Bubbles burst, but steady wins the race
Recently the crypto industry was rocked to its core with the collapse of the third largest cryptocurrency exchange in the world, FTX, and the still-developing scandal revolving around the alleged securities fraud committed by its founder and CEO Sam Bankman-Fried. With a value as high as $32 billion weeks prior to its collapse, federal authorities including the SEC and Justice Department are investigating the company and its leaders for wrongdoing. In the aftermath of this monumental collapse, confidence in the legitimacy of the whole crypto industry has been shaken, and only time will tell if it is able to recover.
