The collapse of FTX sent shockwaves throughout the crypto space, triggering the downfall of some crypto firms and prices crashed along with it. However, the market is picking up once more and confidence is returning.
Bitcoinist caught up with Bitrue’s Chief Strategy Officer, Robert Quartly-Janeiro and he shared his thoughts on how crypto exchanges have been faring in the wake of the FTX decline, and how Bitrue is working to regain user trust after this.
Bitcoinist: Can you tell us your thoughts on the whole FTX debacle? Do you think this was preventable?
Robert Quartly-Janeiro: Ironically, I read the insider story in the Financial Times on the final days at FTX not too long ago. It makes for grim reading, although Ryne Miller is a consummate professional. FTX was operating way outside of its remit, and if you are on the road of embezzling money, as they did through Alameda trading, then, eventually, you’re going to hit a bump.
Could it have been avoided? Yes, of course, it could — and should have been — by not doing it in the first place. I feel for FTX users and their losses, but also for the…