FTX bankruptcy case — what are the potential implications for crypto adoption?

Regulatory Compliance Governance, Risk & Compliance

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Director of Tech and Cyber Strategy in Finance (non-banking)3 years ago

It may have a few implications:
1. Regulators are taking a closer look at crypto and systemic risk. With that being said crypto is nowhere near large enough to have any systemic impact.
2. (Hopefully) it gets people to really think about what problem(s) cypto actually solves. For the most part it seems to be a speculative commodity where the idea of utility far exceeds actual utility.
3. Financial institutions that were starting to incorporate crypto in their businesses will pause or back off. We are already seeing this.

CEO in Finance (non-banking)3 years ago

There will definitely be more governance around funding for crypto currency companies. Also, looking at the impact across other fintech companies is evident. I think there are still more tailwinds to be determined.

Director of IT in Software3 years ago

FTX is a case of a company engaging in fraud while trying to buy stake in the system.

In my view FTX is the best advertisement for true crypto ethos. Don’t trust third parties with your money, learn to hold your keys securely.

Senior Accountant in Consumer Goods3 years ago

I Think it will be more limitation

Chair and Professor, Startup CTO in Education3 years ago

I hope it’s the end of cryptocurrency. Cryptocurrency is the largest Ponzi scheme of human history.

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