In this clip from Chain Chatter, we talk about the fallout of the FTX drama and how it impacts us as crypto founders.
Q: With all the FTX/BNB drama everything is down, we are definitely going through rainy days, what were your contingency plans?
Josh (Castles):
- The market is red, feel bad for those who are losing. Castles keeps on building - engage when people feel the pain but don't let it get to you
- There will be rainy days all the time but the arrow is still pointing up, the sun will come up at one point
- Even this week a new release
**Ian (WOO): **
- Been building WOO for 1 year now, launched a few days before the FTX/BNB drama
- Whole building during bears
- Three sales so far, all have fully sold, the last lasted just 99 seconds
- The best time to build is the bears. In crypto since 2013, LTC miner
- Rainy days are frequent
- The bears allow building without the market demanding
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▶️ 3Speak
Thanks for the insightful discussion! 😊
The wide publicity of the FTX would certainly have an effect on the general public's reaction and attitude towards cryptocurrencies of different kinds. A lack of knowledge of different aspects of the market would also play a substantial role. However, as history has shown, these black swan events tend to have transient effects on the market, and aside from regulatory changes to exchanges, we're likely going to see more renewed interest in cryptocurrencies as the general market recovers and we're headed towards the end of the impending recession. That's going off of the natural market cycle.
There's certainly room for optimism in the years ahead. That's why I'm glad to be involved now.
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It certainly didn't help it any but regardless I think we were in for a bear market.
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