The collapse of FTX has managed to shake the crypto industry lately, and crypto enthusiasts are doing their best to put the trust back on the table. Check out the latest reports about what happened below.
Coinbase and Binance to repair FTX damage to the crypto space?
Skybridge Capital CEO Anthony Scaramucci says he expects other crypto exchange leaders will step up to fill the void left by the collapse of the troubled FTX.
In a new interview at the Bloomberg New Economy Forum in Singapore, Scaramucci says that while FTX founder Sam Bankman-Fried was once driving the conversation on potential crypto regulation, there have been other leaders who will now take over the discussion.
He named Coinbase CEO Brian Armstrong and Binance chief Changpeng Zhao (CZ) as likely candidates to do the right job.
“I’m hoping people like a Brian Armstrong, a CZ internationally, Brian in the United States or people like Brian will step into the vacuum and try to lead in that space and see if they can implore the regulators in the United States to provide more guidance. I think the crypto industry has learned why we have banking regulation. Because you had the Wild West in the 1920s.”
He continued and explained the following:
“You had another incident with the S&L (savings and loan) Crisis in the late 80s into the early 90s. And so, yes, you need regulation. Unfortunately, we have primordial instincts, and we got a lot of greedy people. And you can set things up without the right guardrails and cause a lot of damage which is happening right now.”
Check out the original post that has been shared by the online publication the Daily Hodl.
MicroStrategy’s Michael Saylor also had some important issues to say about this matter.
Here’s the tweet that he shared on social media below.
The failure of FTX & FTT represents the collapse of a corrupt crypto-bank fueled by an inflationary fiat crypto-currency. #Bitcoin is an incorruptible, deflationary asset and ethical network offering property rights & freedom to billions of people.
— Michael Saylor⚡️ (@saylor) November 14, 2022
A lot of fuss has been created online following the latest events that involve FTX.