The head of Laser Digital believes that the collapse of FTX will increase confidence in cryptocurrencies

The CEO of Laser Digital, Jez Mohideen, shared a very non-standard opinion regarding the recent fall of the FTX cryptocurrency exchange. He believes that the collapse of the American platform has indeed become one of the most important events in 2022.

The situation with FTX gave the market a volatile character, which allowed Bitcoin to fall to its two-year low. Unlike many experts in the cryptocurrency industry, Mohideen believes that the resilience of BTC, hinted at by further price increases, proved to investors that the industry can withstand even such blows.

Many cryptocurrency enthusiasts and big players have begun withdrawing their funds from exchanges and converting them to fiat in order to save their fortune. According to Jez, after some time, investors will notice that bitcoin has not dipped as expected and, due to its persistence, BTC is very worthy of continuing to invest in it.

The CEO of Laser Digital also noted that the cryptocurrency industry needs legalization and proper regulation. In the future, this will help attract more funds and further strengthen confidence in the direction of cryptocurrencies.

He also noted that Web3 technologies, along with the metaverses, are likely to become the main ecosystems that will attract money:

Web3 and metaverse projects will be the main ecosystems that will show growth in the coming years. Social networking and gaming services will also retain growth potential if they use Web3 technology.

Laser Digital is a subsidiary of the Nomura holding. The team is engaged in advising companies and creating solutions for trading platforms and venture capital companies, as well as doing analysis.

FTX ran into financial liquidity difficulties on October 7 last year. In 3 days, their native token dropped from $25 to $3. At the time of writing, the cost of one FTT is $0.93 and over the past day it has sagged to $0.87. Sam Bankman-Fried, who served as CEO of FTX, is in turn accused of massive fraud. Not all experts in the world of cryptocurrencies agree with the opinion of the head of Laser Digital. For example, Arthur Hayes, the creator of the BitMEX cryptocurrency exchange, recently said that he conducted his research, according to which, due to the collapse of FTX, the US will receive a strong blow to the economy in the long term, and China in the coming years can become the new world leader in economic literacy. You can read about it here .