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FTX is done — What’s next for Bitcoin, altcoins and crypto in general?

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2022 was a tough year for crypto, and November was especially hard on investors and traders alike. While it was incredibly painful for many, FTX’s blowup and the ensuing contagion that threatens to pull other centralized crypto exchanges down with it could be positive over the long run.

Allow me to explain. What people learned, albeit in the hardest way possible, is that exchanges were running fractional reserve-like banks to fund their own speculative, leveraged investments in exchange for providing users with a “guaranteed” yield.

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