By Adiel Barzel, Co-Founder of Crypto Index
Despite the lingering shadow of FTX’s collapse and the ongoing trial of its founder, Sam Bankman-Fried, it seems that we are finally putting this chapter behind us in the crypto industry’s efforts to regain its footing.
Although we certainly aren’t in a bull market quite yet, crypto’s recent down period, summed up by declining prices, exchange collapses, fraud, and a general feeling of crisis, has been transformational for the industry, allowing it time to consolidate and reflect. Already we are beginning to see signs of a future breakout.
Revamping the foundation
Crypto went from an industry seemingly on the verge of collapse and lampooned by many, to one where asset managers and mainstream financial institutions eagerly seek exposure. While BlackRock’s spot Bitcoin ETF doesn’t necessarily reflect an industry charging towards a bull market—or one even on the mend—it does show confidence in crypto’s staying power. But what has driven this shift?
As cliche as it sounds, the crypto winter forced the industry as a whole to self-reflect, refocus, and reorganize priorities. This ultimately led to a…
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