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

1.5k views6 Upvotes6 Comments

Director in Manufacturing, 1,001 - 5,000 employees
Thus far the testimony of the FTX CEO assigned by the court says it’s basically fraud and poor business practices. The failure didn’t have much to do with Crypto at all

However most will link the fraud and crypto and be much more hesitant in the currency space

Crypto for other purposes should be fine once more people understand what FTX did
Chair and Professor, Startup CTO in Education, 5,001 - 10,000 employees
I hope it’s the end of cryptocurrency. Cryptocurrency is the largest Ponzi scheme of human history.
Senior Accountant in Consumer Goods, 201 - 500 employees
I Think it will be more limitation 
Director of IT in Software, 10,001+ employees
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.
CEO in Finance (non-banking), 2 - 10 employees
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 Tech and Cyber Strategy in Finance (non-banking), 1,001 - 5,000 employees
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.

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CTO in Software, 201 - 500 employees
Without a doubt - Technical Debt! It's a ball and chain that creates an ever increasing drag on any organization, stifles innovation, and prevents transformation.
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