💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

We could use crypto regulation after FTX — but let's start with basic definitions

Published 12/01/2022, 02:35 PM
Updated 12/01/2022, 04:20 PM
LUNAt/USD
-

As a crypto CEO, I know how often our sector is misunderstood and criticized. Sometimes, the criticism is deserved because we have not always done our part to shine a light on the utility and use cases powering positive change. But other times, it’s based on the assumption that all players in this industry are the same, which is just not true.

Recently, skepticism reached new heights with the epic crash of FTX, one of the largest crypto exchanges in the world — and perhaps the largest-ever example of the need for regulatory oversight. Given the positioning of FTX, it was an incredible leap to see them face insolvency. When the news broke, we saw a massive downturn in the digital assets market. Consumers were left to decide whether FTX — or any entity in our space — is a safe steward of their funds.

Denelle Dixon is the CEO and executive director of the Stellar Development Foundation. She previously served as a legal director at companies including Terra Firma and Yahoo! after graduating from the University of California Hastings College of the Law. She completed her undergraduate education at the University of California, Davis.

Continue Reading on Coin Telegraph

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.