{"id":14816,"date":"2022-11-25T19:23:54","date_gmt":"2022-11-25T19:23:54","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/gavin-wood-says-ftxs-failure-isnt-a-harbinger-of-crypto\/"},"modified":"2022-11-25T19:23:54","modified_gmt":"2022-11-25T19:23:54","slug":"gavin-wood-says-ftxs-failure-isnt-a-harbinger-of-crypto","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/gavin-wood-says-ftxs-failure-isnt-a-harbinger-of-crypto\/","title":{"rendered":"Gavin Wood says FTX&#8217;s failure isn&#8217;t a harbinger of crypto"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1669401931378-fc550a20-8654-4c61-b9a3-00465bbb0309-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1669401931378-fc550a20-8654-4c61-b9a3-00465bbb0309-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1669401931378-fc550a20-8654-4c61-b9a3-00465bbb0309-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1669401931378-fc550a20-8654-4c61-b9a3-00465bbb0309-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><\/picture><\/div>\n<ul>\n<li dir=\"ltr\"><em><strong>Gavin Wood co-founded Ethereum, Polkadot and Parity Technologies among other top crypto platforms.<\/strong><\/em><\/li>\n<li dir=\"ltr\"><em><strong>He says FTX\u2019s implosion offers a chance for crypto to go for \u201cdecentralised, trust-free technology.\u201d<\/strong><\/em><\/li>\n<li dir=\"ltr\"><strong><em>Wood stepped down as CEO of Parity in October, announcing his decision allowed him to focus more on building Polkadot.<\/em><\/strong><\/li>\n<\/ul>\n<p dir=\"ltr\">Gavin Wood, the co-founder of blockchain platform Polkadot, says FTX\u2019s failure isn\u2019t a precursor of what\u2019s to come in the crypto sector. It doesn\u2019t count for the future of <a href=\"https:\/\/coinjournal.net\/cryptocurrencies\/\">cryptocurrency<\/a>, (even if a setback).\u00a0<\/p>\n<p dir=\"ltr\">As for why, he says the collapsed exchange was a mismanaged platform that tried to hide behind a massive marketing strategy.\u00a0<\/p>\n<h2 dir=\"ltr\">FTX was a \u2018mismanaged, heavily-marketed\u2019 company<\/h2>\n<p dir=\"ltr\">The <a href=\"https:\/\/coinjournal.net\/ftx-token\/\">FTX token<\/a> has lost nearly 98% of its value in the past month, all because FTX happened and most people within crypto are extremely irritated that it did. Of particular concern has been the impact to millions of people who didn\u2019t get out as it became clear the Sam Bankman-Fried led exchange was in trouble.<\/p>\n<p dir=\"ltr\">And then 130 FTX affiliated entities filed for bankruptcy \u2013 with all these coming just months after SBF had painted himself as crypto\u2019s \u2018white knight.\u2019<\/p>\n<p dir=\"ltr\">But despite the contagion that has followed the FTX fiasco, Wood says the event is nowhere near being a \u2018<em>harbinger for crypto<\/em>.\u2019\u00a0<\/p>\n<p dir=\"ltr\">According to the Polkadot co-founder, if there\u2019s anything, FTX has demonstrated one thing: the cryptocurrency industry needs to work towards \u201c<em>better decentralised and trust-free technology<\/em>.\u201d Wood\u00a0shared his sentiment on Friday.<\/p>\n<p dir=\"ltr\">\u201c<em>I\u2019m sick of hearing crypto confused with a heavily-marketed centralised, mismanaged exchange. FTX\u2019s failure is far from a harbinger of crypto. Quite the opposite: it\u2019s a concrete demonstration of the need for more, better decentralised, trust-free technology<\/em>.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">I\u2019m sick of hearing crypto confused with a heavily-marketed centralised, mismanaged exchange. FTX\u2019s failure is far from a harbinger of crypto. Quite the opposite: it\u2019s a concrete demonstration of the need for more, better decentralised, trust-free technology.<\/p>\n<p>\u2014 Gavin Wood (@gavofyork) <a href=\"https:\/\/twitter.com\/gavofyork\/status\/1596032393252831234?ref_src=twsrc%5Etfw\">November 25, 2022<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">Wood stepped down as CEO of Parity Technologies, the firm he co-founded and which is behind the development of Polkadot, in October this year.<\/p>\n<p>As we <a href=\"https:\/\/coinjournal.net\/news\/polkadot-co-founder-gavin-wood-steps-down-as-ceo-of-parity\/\">highlighted<\/a>, the Ethereum co-founder noted his move was to help him focus more on Polkadot. He is currently the Chief Architect at Parity. Wood is also the founder of Kusama and Web3 Foundation.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ftxs-failure-is-not-a-harbinger-of-crypto-gavin-wood\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Gavin Wood co-founded Ethereum, Polkadot and Parity Technologies among other top crypto platforms. He says FTX\u2019s implosion offers a chance for crypto to go for \u201cdecentralised, trust-free technology.\u201d Wood stepped down as CEO of Parity in October, announcing his decision allowed him to [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":14817,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14816"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=14816"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/14816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/14817"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=14816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=14816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=14816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}