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Unpacking the FTX Crypto Collapse

Ones and Tooze

CHAPTER

Will Cryptocurrencies Ever Come Back?

Is this maybe like the kind of pets.com bust in the late 90s that preceded a longer lasting rally of internet companies? Is there some fundamental sense in which the world needs crypto? Well, I mean crypto loyalists will tell you that what went bust here is an exchange, not a coin, not a token. So if that's your game and you like that gamble, then it's still there for you. And Bitcoin has not gone away. If you join the monopoly game to continue that analogy early enough, you're still sitting on really large monopoly board gains. You bought the, you bought the, your monopoly chips, three, four, five, six, seven years ago

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