A big lesson to be learned after FTX collapse
He has been introducing the idea that after the failure of the FTX exchange it is necessary that the exchanges and in general the crypto market is regulated, however if we want to reflect on the fact if regulation is the solution, then it is appropriate to do a little history and analyze what has happened when regulation has been present, if it has solved some of the problems presented in the past?
Logically it does not mention the cases that perhaps many of you know, the important thing is that historically regulation has not prevented the financial system from being free of fraud and not collapse, with or without regulation has always happened the same, so one of the strong lessons to learn is not to see the regulations as a savior entity for when the cryptocurrency market suffers.
Another important lesson to take into account after this, and one that hopefully the crypto community in general will learn and adopt, is to underestimate the ability to penetrate different entities that have the corruption to do so.
In my country there is a very common saying that goes: "We see faces but we do not know hearts".
This saying alludes to the fact that we should not trust and we should not trust the fate of a market as important as the cryptocurrency in the hands of a leadership, because in the end we are leaving it in the hands of a human being who is prone to make mistakes and to be tempted by the greed of money.
As a society we have the habit of thinking that corruption is only an evil of politics or other scarce systems, it is important that we do not underestimate corruption, as it can escalate and perforate any stratum of society, as was the case of FTX.
I conclude this analysis by saying that the possible cases of bankruptcy and scams in the future will only be reduced by the high awareness of those of us who are active participants of this great crypto community, as regulations are not provided to be able to prevent crime and scam, as institutions that have been regulated have gone bankrupt before and have similarly taken customer funds. A moral high ground that brings to the top the credentials of good men who know how to respect other people's money and are not tempted by greed to swindle others is what is needed for this market to regain the trust of its investors.