Though crypto markets are in a downturn, members of the group have expressed their timeless confidence that Bitcoin (BTC) and crypto are right here to remain.
Even because the FTX and Alameda Analysis debacle highlighted points within the crypto market, one group member urged others to not stress. The Twitter person argued that the disaster was only a black swan occasion that solely FTX CEO Sam Bankman-Fried (SBF), Binance CEO Changpeng Zhao and some others may have seen coming. The group member believes that crypto is right here to remain anyway.
Whereas individuals are feeling burnt out because of the present state of the market, some stay hopeful and reaffirm their love for crypto. A group member tweeted:
F..ok the dump & the entire fud. I like #crypto. It is right here to remain.
— $SHIB KNIGHT (@army_shiba) November 9, 2022
In the meantime, crypto analyst Michaël van de Poppe additionally shared his ideas on the event of the crypto market. In response to van de Poppe issues shall be higher going ahead. Citing Mt. Gox, Terra and FTX, the analyst pressured that errors should be made to enhance the system. “It might really feel like we’re on the verge of an entire collapse of crypto, however bitcoin and crypto are right here to remain,” he wrote.
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Amid fears of crypto market contagion stemming from the current FTX and Alameda debacle, executives at outstanding crypto corporations have reassured customers that they haven’t any liaison with the struggling corporations. Tether Chief Know-how Officer Paolo Ardoino, Circle CEO Jeremy Allaire, and Coinbase Alternate CEO Brian Armstrong all took to Twitter to defuse any FUD rising amid the FTX disaster.
On Nov. 8, Binance and FTX introduced that the corporations will conduct a strategic transaction aimed toward serving to FTX take care of what Zhao described as a “vital liquidity disaster.” The Binance CEO additionally expressed the corporate’s intention to totally purchase FTX and assist resolve the liquidity issues.