We're getting there.

This is not all bad news. I know many people who lost money to the "Big 3 Scams of 2022" (Luna, Celsius, FTX) and I feel for anyone who trusted these "projects".

However, some things need to break before something meaningful rises. Every time an implosion of this magnitude happens, people start becoming more aware of risk management, security and "doing this the right way". And yes, there is a right way in crypto and if you don't know what that is then you probably shouldn't put your money in anyway.

1. With LUNA collapsing, we've had people increasing awareness of the risks of algorithmic stablecoins and unsustainable yields.

2. With Celsius collapsing, people learnt the importance of not trusting anyone with their money because they're promising high yields and fake custody.

3. With FTX, people realize the importance of self-custody and are now pushing for CEX transparency and actual proof of reserves (and liabilities).

The most important thing: There were actual warnings before any of this collapses happened. There are people who actually DTOR and publish stuff in various social media platforms.

Was anybody around when Mt. Gox, or Quadrica, or any other shady exchange collapsed? Nobody saw it coming.

But now we can. We CAN see it happen and we can warn others. We can educate each other on the risks and the tools we can use to gamble safely (lol).

In all seriousness though. The space requires education. We learn from our mistakes and from the mistakes of others. Regulators still have no idea how to approach this and every collapse is an opportunity for those who actually understand how this thing works to educate and advise.

Please, learn more, we're getting there.