Does This Hurt the Credibility of Crypto?

For the individual investor, does this hurt the credibility of crypto as a legitimate asset class? That sounds too glib to say, no, ignore it. They could know they can ignore it because there have been blowups in crypto since day one. This is a feature, not a bug. And what the true believers in cryptocurrency would say is, look, they keep trying to erect these centralized businesses and every one of them fails. The one thing that keeps going is the blockchain.