The collapse of FTX will continue to affect the cryptocurrency industry in 2023

Experts from the analytical company CryptoCompare conducted a study on the impact of the fall of FTX on the cryptocurrency market in 2023. The researchers published a report indicating that the digital asset industry will be moving away from the October events with the collapse of the American cryptocurrency exchange for a long time to come.

The reason for this was FTX's connection with other companies, which are also now experiencing great financial difficulties and continue to close. This trend, according to CryptoCompare, will continue next year, and we will continue to watch the news of the closing of exchanges as before.

Despite the fact that the American Sam Bankman-Fried exchange has undermined the trust in the digital asset industry, such events should push the cryptocurrency sphere to various improvements. After what happened, a lot of companies will think more carefully about improving precautions.

Investors, in turn, will think about saving their funds and will keep money outside the exchange. Along with this, the popularity of hardware cryptocurrency wallets should grow even more. Following the collapse of FTX, Ledger reported that they were able to show the most successful week of device sales in the history of the business. They did not disclose exact amounts.

CryptoCompare warn investors that government agencies will take up the regulation of cryptocurrency processes more tightly. Thus, global rules for the industry may appear, which, on the one hand, can complicate operations on cryptocurrency exchanges, and on the other hand, make the life of fraudsters more difficult.

According to experts from the analytical company, the rules have the potential to become effective if they are divided into two categories: for centralized exchanges and decentralized platforms.

According to some cryptocurrency experts, the events that took place in 2022, including the collapse of Terra, FTX and Alameda Research, have a direct relationship with each other. This opinion was recently shared by representatives of the analytical company Nansen.