Reasons Why The Crypto Dream Is Turning Into A Nightmare

FTX Crash

The FTX Crash is every casual crypto investor’s worst nightmare because it shows that nothing in this digital world is safe. FTX made it easy for traders to hold and deal in crypto. But now everybody sees what happens when it goes wrong. Sam Bankman-Fried’s $32 billion empire collapsed like a souffle.

This has a serious effect on established cryptocurrencies including Bitcoin. It may also lead to increased regulation and government oversight. Many crypto developers dreaded this moment because it defies their ethos. But that’s the consequence of one of the worst financial oversights ever (via The Guardian).