FTX’s collapse will continue to influence the crypto industry in 2023
The crypto market will need some time to recover from the consequences of the collapse of FTX and other large companies, as CryptoCompare noted in its latest report on the results of 2022 in the crypto industry.
According to analysts, FTX has been tied to numerous crypto firms, so the crypto sphere may face other bankruptcies next year.
However, experts believe that due to the situation with FTX, other crypto companies will begin to work on the sustainability of their business more seriously. Next year, the management of such companies will pay more attention to ways to save money. In addition, they will build applications with a market-product fit.
Experts note that regulators will pay closer attention to the regulation of the crypto market in order to protect investors. Global regulation of the crypto industry may also become more advanced. At the same time, experts at CryptoCompare believe that centralized and decentralized projects should be distinguished for more effective control.
Experts also think that the crypto winter will give companies the opportunity to focus on development and prepare for the next growth of the market. They noted that the market downturn will help to separate investors working in the long term from those who focused on speculation and short-term benefits.
Earlier, CoinGecko’s analysts reported that the collapse of FTX might lead to a greater number of layoffs in the crypto sphere.