TAIPEI (Taiwan News) —The recent collapse of FTX proved a stark warning to investors once eager to invest their life savings in cryptocurrencies, coins, and tokens.
A Twitter Spaces discussion recently brought together journalists, venture capitalists, and those providing Web 3.0 services to debate the state of the crypto industry and impending regulation, with a recording of the discussion available.
“Everyone knows about the collapse of FTX. It was the second largest exchange and was endorsed by lots of governments and institutions who had strong confidence in the exchange,” said CK Wang (王俊凱), founding partner and Co-CIO of MK2 Capital.
Wang says it is unfortunate the exchange collapsed as it was the first step into cryptocurrency for many cryptocurrency newcomers. As the exchange imploded in real time, many investors lost everything, leaving them reluctant to undertake future investments.
An online discussion was recently held to debate future Web 3.0 regulations. (FormosaVerse image)
To regain investor confidence, the obvious course of action is more government regulation, though others believe the blockchain and decentralized finance (DeFi) could solve the problem.
“Something is not fundamentally wrong with crypto. The nature of blockchain is decentralization and governance by code which is transparent,” said Consola Finance Head of Business Development, Antoine Tsao (曹).
Tsao believes many people are primarily concerned about the custody of cryptocurrencies at the moment….
