This month marks one year since the Terra-Luna fallout and six months since the implosion of FTX. These spectacular events, which marked the beginning and culmination of several other collapses respectively, severely shook confidence in cryptocurrencies and arguably triggered the industry’s most daunting existential crisis in its 15-year history. While the asset class has recovered this year, with bitcoin up almost 65% year-to-date, these milestones are nevertheless an opportune moment to reflect on the setbacks of last year and how the industry can build back better.
First, we should acknowledge that these events are not failures of blockchain technology but are instead a result of poor risk management and corporate governance, with fraud taking place in some of the companies that failed. The market continues to recognize the integrity and innovative potential of blockchains, as evidenced by
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