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It’s amusing how some people treat the collapse of one fraudulent CEX as the end of crypto. If there was an event that could’ve killed crypto then that would’ve
by jgilias 4y ago
It’s amusing how some people treat the collapse of one fraudulent CEX as the end of crypto. If there was an event that could’ve killed crypto then that would’ve been the collapse of Mt. Gox. Systemically speaking, the collapse of FTX is orders of magnitude less of an issue now than the collapse of Gox was then. I’m not saying crypto can’t be killed. It probably can be. But this is not it, not even close.
- tptacek 4y agoFTX cost investors a double-digit multiple of what Mt. Gox did.
- arcbyte 4y agoIn absolute terms, yes. But in relative terms how much of the crypto pie does FTX have versus MtGox back in the day?
- NotYourLawyer 4y agoNobody outside of crypto enthusiasts had ever heard of Mt. Gox. EVERYBODY knows about Saint Bankman-Fried, the one honest man in crypto. This is a bigger deal for confidence than you think.