Could FTX’s Collapse Signal Even Tougher Times for Crypto? Here’s What to Know
www.nytimes.com/2022/11/09/technology/cryptocurrency-binance-ftx.html?unlocked_article_code=IkvMP6oU5T2pl5La_uYnz86Y8hrxxYlf6OgDCVL016__TRvF18c0ExLzut9Wknt-vzh_j7JRrkynYEx962z83KsGCoxR9Ay2w-zjVEKfWOuRXdQlPJfKeuGWhSXdE98l_U6CeYA5n5y7UF3ld20wJizDmG4ap00rXg4qp0p_94rUjwK3MyVa3BPwXYip6TEMpH7SpCW_W5GbBWg6FDOiwq51Bf4TbOxweXUcDvfTxVVDH8fQrIQ_2LiHJW7VqBpSdWbd1Xcott1d0DSWhAH1RpRIkk_XnR0j2eYz9a9JzbLeGWfZlR35iGodMwicpaTN3JWnD_TKcIMlGOPtZkSnfnKl2ZkMEoI&smid=share-url
What Jamie wrote
I've read a ton about the fall of FTX this week, and it is still playing out. I’m active in crypto and find the tech compelling so have paid close attention. One of the most important tenets of crypto is to self-custody your tokens. "Not your wallet, not your crypto" is how the saying goes. We are again learning that centralized exchanges on a decentralized platform have the potential for big problems.
This article has a good tlmeline. I’m saddened by the losses that many folks are going to take as a result of this. But I also still see the long-term potential in what can be built. Realistically, I think the FTX blow up pushes back crypto 2-3 years in adoption.
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