54517

Web3 is in FTX's blast radius

The collapse of Sam Bankman-Fried's is diminishing public confidence in Web3 projects. Web3 uses blockchain and crypto tokens to organize decision-making, governance, and financial incentives. Crypto's supporters say that the trading platform's failure shouldn't discredit the entire concept of blockchain-based tech. However, FTX's collapse suggests crypto is still at the starting point of its vision.