The collapse of the FTX network caused a lot of problems in the world of cryptocurrencies, as many currencies deteriorated at that time, which caused great concern in the market, and the matter continued until the past few days after the conviction of the founder of FTX, when the outlook became different for the platforms and their managers.
After the conviction of the founder of FTX, things became somewhat better, as confidence increased among many capitalists who had money in the platforms, as there was fear of fraudulent operations from the founders of the platforms, but I think the matter changed a little after that.
At these times, there is a good performance of cryptocurrencies in the market, as the price of Bitcoin reached about 34 thousand dollars. Despite this, this price is not what we all aspire to at the present time, but we are waiting for the beginning of next year, when everyone is optimistic about a good future for cryptocurrencies.
Michael Saylor, CEO of Microstartegy, indicated that it is time for mature supervision of cryptocurrencies so that we are not exposed to fraud again and so that users can guarantee the safety of their money. Saylor stressed the need for major banks to supervise and for Wall Street to take an active role in this matter.
As for me, I believe that with initial approval for the ETF, what Saylor said must be implemented. This does not specifically mean that cryptocurrencies turn into centralization, but so that it does not happen like what Sam Bankman did, who is close to being tried, as he embezzled billions of dollars.
So as not to be scammed
I think that, apart from the previous suggestions, each user must do his own role to protect his money from fraudulent operations from the platforms, by not keeping a large amount of currencies on the trading platforms, but rather you must have a special wallet in which the encrypted currencies are stored and stored. Transfer it to the platforms for quick trading and then return it to the wallet again, where, as they always say, “Not Your Keys, Not Your Money.”
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And you, what do you think ?
Thank You
