Vitalik: FTX thing is a huge tragedy, open and transparent code over individuals

Nov 21,2022
KingData News: The collapse of FTX contains lessons for all of crypto, according to Ethereum co-founder Vitalik Buterin. What happened at FTX is certainly a huge tragedy, he said, but many in the ethereum community also see it as a validation of what they have always believed, that anything centralized is suspect and that open and transparent code trumps the individual. Commenting on the Luna crash, Vitalik said that such a crash is necessary for the ecosystem on the one hand, and I really hope the crash happens when Luna is much smaller on the other.
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