Cryptos main tenet/proposition is to be a currency free of centralized control(argument as a double edge sword). Its chief benefit being no regulation(Unable to be siezed, no limitations of commerce, and established set of currency supply), and here many are demanding this chief benefit be stripped...
Crypto wants to be perceived with the same or greater legitimacy as banks.
Crypto exchanges want that, majority of crypto proponents definitely want higher adoption.
But exchanges ≠ banks, anyone playing with this long understands to never leave crypto in an exchange, cold wallets are the only safe place for crypto to live long term.
It's guarenteed that more exchanges will go under (like FTX), the fundamentals of crypto will continue with or without them. El Salvadors bitcoin play isn't looking to hot at the moment with BTC losing 60% of its values since El Salvador made it legal tender.
CryptoCurrency needs to be Outlawed on a Global scale via laws/regulation/legislation.
It's hot garbage designed as a Ponzi Scheme.
This. Could not have said it better myself.
If this is what you want, Central bank backed digital currency are out there and more are coming(goodbye privacy). Stick with printing press government controlled ponzi scheme...
If you lost money chasing a scam coin, or gambling on an up market right before this downturn, my condolences.
Only coins I am interested in personally going forward are privacy coins(Monero).
Crypto can be a digital hedge against inflation, a counter to the current ever expanding money supply.