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Bitcoin will survive failure of ‘any giant’ in crypto, Samson Mow says

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The collapse of FTX has triggered a notable drop in the price of Bitcoin (BTC), but that in no case means that BTC can be destroyed by failing cryptocurrency firms, according to Bitcoin proponent Samson Mow.The cryptocurrency industry is still seeing the wave of FTX contagion playing out, and it is likely to face more similar crashes in the near future, Mow said in an interview with Cointelegraph.According to the executive, FTX contagion could be part of the Terra ecosystem collapse, which caused a domino effect on the industry, including major crypto lenders like Celsius and Voyager.“More things like this will continue to happen in the crypto space because all of these projects are worthless houses of cards,” Mow predicted.

He added that FTX’s failure was “easy to see coming” due to FTX’s relationship with Alameda.“A general rule of thumb is if a company prints a token out of thin air and either sells it to retail, or relies on it as an asset, you should expect them to collapse eventually,” JAN3 CEO stated.

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