Recent fall of FTX shook the crypto ecosystem Also It has come as a lesson for crypto world, though an expensive one.
if you turn off social media.. (quieten the noise of voices)
you will notice that in the real cryptospace of crypto currencies.
(coins have no voice) it was not a massive earthquake. it was just a shudder
if you add up all the user accounts of coinbase binance,bitfinex, and all other exchanges. estimates as 300m users
so. FTX shook just 0.4% of people
99.6% of people(including me and you) were unaffected and are just gawkers and gossipers
bitcoins market price pre drama seen a $17k price. so a $16k price is not a ground breaking cavity for people to fall to their death in.
its just a wave of normal tidal movement being at low tide.
as for regulations
well alot of people think "regulations" is just KYC
its not.
regulations come in different forms:
(-)user oversight
(-)business protection (cant litigate them if under a shield)
(+)business oversight
(+)user protection(make business actions illegal to protect users)
we do need to see more user protection regulations and less sweep a business practice under the carpet (ignorance)
but there are other regulatory things itching at the door trying to get into the crypto space
CFTC+EPA want to limit or restrict mining.
limit/restrict how much users can invest