The thought of an even bigger "FTX" moment is saddening. Throw in full Coinbase collapse, taking out most ETFs as well. Would be a massive blow, we'd recover of course.
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Fake coin rug pulls aren't a blow to those of us who use our own coins
They and the price drops associated with them are nothing but the same symptom of people pretending "not your keys but yes your coins"
We always recover 🫡
The downward volatility every few years is important to flush The sewage that builds up.
Bitcoin production and network unaffected
A cleansing calamity.