Op-ed: why FTX does not spell the death of crypto

Jonny Fry
4 min readDec 13, 2022

By Philipp Pieper and Timo Lehes, co-founders of Swarm

Sam Bankman-Fried, the once poster boy for crypto regulation by appearing before congress and allegedly donating hundreds of millions of dollars to the Democrat Party, lost his crown and $51 billion worth of collateral from FTX’s balance sheet, leading to the collapse of the world’s second largest centralised crypto exchange in November this year. The dramatic demise of the beleaguered exchange has irrefutably eroded confidence in crypto. The episode was a cruel reminder of how light touch…

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Jonny Fry

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