One by one the dominoes have fallen this year. Sam Bankman Fried, along with his trading arm Alameda, caused the collapse of the world’s third largest centralized exchange, FTX.
We had Do Kwon’s Terraform Labs wiping $45 billion from the markets, and of course the failed equity of crypto hedge fund Three Arrows, whose founder Su Zhu just had the audacity to claim that the recent FTX contagion took crypto by years thrown back.
It’s unclear what comes next, but I think most analysts and investors will bet on increased regulatory scrutiny of crypto following these events. Last week, JPMorgan released a report stating exactly that, and I think it’s worth checking out their analysis as about a third of the report is devoted to arguing why DeFi won’t capitalize on this year’s crash and the big ones Winners emerging from all of this, doing this will be centralized exchanges.
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