The cryptocurrency industry should use innovation to regain lost trust
- It has been ridden by sandals lately, though this domain was once about transparency and decentralized accounts. Redemption will also lie in making use of blockchain technology to deliver what others cannot.
The vertiginous fall of Sam Bankman-Fried—the disgraced founder of the cryptocurrency exchange FTX who was recently convicted of fraud and money laundering in New York—has cast a harsh light on a largely unregulated market. For all the supposed wonders of the blockchain technology underpinning cryptocurrencies, the headline-grabbing events of the past few years indicate an industry in turmoil.