Could FTX Declare Bankruptcy? Crypto Will Still Survive - 0 views
-
John Kiff on 13 Nov 22When guessing at the future of crypto, keep in mind that the future of crypto exchanges and the future of crypto assets are very different things. For many pure crypto bugs, the exchanges are a sellout and a concession to older methods of finance and settlement. The exchanges can be regulated, controlled and co-opted, even turned against the notion of individual monetary sovereignty. Instead, the pure crypto vision stresses the notion of "every person their own bank," through the medium of a personal wallet and beyond easy purview of the central authorities. So if the major exchanges are damaged or co-opted by the establishment, pure crypto bugs might celebrate rather than mourn. It is thus a mistake to see the possible demise of crypto in the possible demise of FTX. Instead, the purer crypto vision will be given more of a chance to flourish - or, for that matter, to fail.