TL;DR
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In the past year or so, people have become more cautious than ever regarding what projects to invest in and whether or not the team behind them are good or bad actors.
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With the fall of companies like FTX, it has forced regulators to step up — for better or for worse — and clarify the rules surrounding the crypto industry that would have otherwise taken years to take effect.
Full story
Many in the crypto world have been hoping for years, no pleadbecause two things happen:
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Less/no scams
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More regulation (let people know the rules so they can follow them)
According to Marathon Digital CEO, Fred Thiel, that’s exactly what the crash of the past year or so (it was 12 months yesterday since LUNA broke away from the dollar) has done.
Speaking at the Financial Times Crypto and Digital Assets Summit, Mr Thiel said:
“I think this period of stress that the crypto market has been through is cleaning up a lot of unsavory operators,”
“It also forces regulators to respond, which they otherwise would have been too slow to do.”
And he has a point…
In the past year or so, people have become more cautious than ever regarding what projects to invest in and whether or not the team behind them are good or bad actors.
With the fall of companies like FTX, it has forced regulators to step up — for better or for worse — and clarify the rules surrounding the crypto industry that would have otherwise taken years to take effect.
Maybe we’re just ‘glass half full’ guys, but just as the Covid-19 pandemic brought forward the timeline for normalizing remote work, it seems the crypto winter has forced regulators to get on the bike as well.
Let’s hope scams stay low (or disappear!) and regulations are further refined in the next bull run.
