It’s time to prioritize governance, transparency and accountability — or we may face another catastrophic FTX-like collapse.
Opinion by: Debra Nita, associate director and head of growth at YAP Global
FTX’s collapse is a stain in crypto’s history, reminding us of the dangers of unchecked ambition and lack of accountability and governance controls. The company’s downfall catalyzed a loss of over $200 billion in the industry’s market capitalization. It also shattered public trust, painting crypto as fraudulent rather than transformative.
It was not crypto’s first rodeo. Similar patterns emerged in the Mt. Gox breach of 2014 and the 2017–2018 initial coin offering (ICO) craze. The industry has seen entities gain market share and influence in an environment that lacked oversight.
