The Crypto Winter Is A Good Thing, Because...

Article source, here.

TL;DR

• Over the past year or so, people have started to be more cautious than ever with regards to which projects to invest in and whether or not the team behind them are good or bad actors.

• With the fall of companies like FTX, it has forced regulators to make a move - for better or worse - and clarify the rules around the crypto industry that may have otherwise taken years to be brought into effect.

Full Story

For years, many in the crypto world have been hoping, no pleading, for two things to happen:

1. Less/no scams

2. More regulation (let people know the rules, so they can play by them)

According to Marathon Digital’s CEO, Fred Thiel, that's exactly what the crash of the past year or so (it was 12 months since LUNA depegged from the dollar, yesterday) has done.

Speaking at the Financial Times’s Crypto and Digital Assets Summit, Mr Thiel said this:

"I think this period of stress that the crypto market has gone through is cleaning out a lot of unsavory operators,"

"It's also forcing the regulators to react, which otherwise they would have been too slow to do."

And he has a point...

Over the past year or so, people have started to be more cautious than ever with regards to which projects to invest in and whether or not the team behind them are good or bad actors.

With the fall of companies like FTX, it has forced regulators to make a move - for better or worse - and clarify the rules around the crypto industry that may have otherwise taken years to be brought into effect.

Maybe we're just 'glass half full' kinda guys, but, just as the Covid-19 pandemic pulled forwards the timeline for remote work to be normalized, it seems the crypto winter has forced regulators to get on their bikes too.

Let's hope scams stay low (or disappear!) and regulation continues to be refined in the next bull run.