FTX Crash is Good for the Industry, says Michael Saylor

FTX Crash is Good for the Industry, says Michael Saylor

FTX Crash is Good for the Industry, says Michael Saylor
FTX Crash is Good for the Industry, says Michael Saylor
Type: Bankrupt
1668270503 12 Nov / 16:28

MicroStrategy founder Michael Saylor said the FTX crash could spark further growth in the crypto industry.

In an interview with CNBC, Saylor said that the collapse of Sam Bankman-Fried‘s FTX crypto exchange would likely speed up U.S. regulations.

He also shared that these regulations may lead to greater digital asset adoption as more traditional financial institutions enter.

If there is progressive regulation, there won’t be 20,000 tokens, there will be dozens, but they will be properly registered tokens.

The industry will develop much faster. And ultimately, we’re moving from the entrepreneurial stage, when it was the wild west offshore, where anything is allowed, to the institutional digital asset stage, where the big players like Bank of America and Fidelity, BlackRock and Goldman Sachs, and JP Morgan will come into this space. We will all grow, and the world will benefit from it.

Saylor warned that if regulators act too aggressively in response to the FTX collapse, it will hurt the industry.

That will push the regulators into action and speed up their intervention. There is regressive regulation, which means you can’t do anything, and it will shrink the industry. Bitcoin will be the winner because it is a digital commodity and is the least controversial.

He also believes that U.S. regulators must clearly define how cryptocurrency activities can be regulatory compliant.

Regulatory intervention lately has been increasingly negative as enforcement. Still, the market is waiting for regulators to say: this is how to register a digital currency, this is how to note a digital security or a digital commodity, and instead of saying that all crypto exchanges must register, we must write crypto exchanges because the future of the industry is registered digital assets that are traded on regulated exchanges where everyone has the necessary investor protection and investors, in general, understand the difference between Bitcoin and a stablecoin and security token.

On November 8th, 2022, FTX and its intermixed parent company Alameda Research started taking steps for their Insolvency and eventual Bankrupt. We at CryptoTeka have removed all FTX referral links from the Platform.
Early Bonus Program

Starting on 01 January 2024, and goes for the next 365 Days.

Every day remaining equals 10 CryptoTeka Tokens multiplication.

226 Days Remaining.
2260 bonus CryptoTeka Tokens.

CryptoTeka Connect

Crypto Deals
Register on Binance Register on Coinbase Register on KuCoin Register on Huobi Global Register on Bitfinex Register on Gate.io Register on CoinList
Crypto Movers

Get Notifications on the Top 1000 Cryprocurrencies every 10 minutes.

Crypto Subscribers

Get on our contact list, and we'll keep you up to speed.

The latest Crypto news and expert insight sent to your inbox for free.

Subscribe for push notifications.

Free Crypto push notifications to your computer or phone.

Subscribe for Blockchain projectsSubscribe now

CryptoTeka contain links to third-party websites, resources, and advertisers. CryptoTeka does not control, sponsor, recommend or otherwise accept responsibility for any third-party content because we are not responsible for the availability of these outside resources or their contents or privacy practices. It will help if you direct any concerns regarding any third-party content to such a third party. We don't accept responsibility for the content of external websites linked to through the Site or the Services. Third-party content is accessed at the user's own risk. CryptoTeka distributes content from third-party publishers as indicated on the site from time to time mainly in Airdrops, News / Media, Whale Alerts, and Rumors. In these circumstances, CryptoTeka only provides limited stylistic input to the content. CryptoTeka does not verify and takes no responsibility for the accuracy of the content provided by any such third-party publishers.
Powered by
Coingecko Marketstack Metals-API World Bank

Change Default Currency

Fiat Currencies


Precious Metals