Vitalik Buterin offers lessons for crypto in wake of the FTX collapse

Ethereum co-founder Vitalik Buterin has spoken out in the wake of the FTX collapse, offering his thoughts and some positives from one of crypto’s biggest black swan events.

In a Nov. 20 Bloomberg interview, Buterin said that the collapse of FTX contains lessons for the entire crypto ecosystem.that the underlying stability of distributed ledger and the technology powering the crypto asset economy has not come into question. The problem in this instance has been people, not technology.

Buterin also labeled the FTX collapse as a “huge tragedy” but added that it reaffirms the position of many in the Ethereum community concerning centralization: “That said, many in the Ethereum community also see the situation as a validation of things they believed in all along: centralized anything is by default suspect.”

He added that this ethos includes trusting in open and transparent code above humans. Over the weekend, Buterin posted aHe said rather than relying solely on “fiat methods” such as government licenses, auditors, corporate governance, and background investigations of people running exchanges, the exchanges could create “cryptographic proofs that show that the funds they hold on-chain are enough to cover their liabilities to their users.

This is a jokd from Vitalik... only option...

Cex=🤡

I feel like a this was written by the first AI to huff nitrous. He is the rug that won't quit. Centralization is his point of failure! 💯 you can't rewrite history...even with a reset button. We remember 2016 🙅‍♀️

The hypocrisy lol

Ethereum is the most centralized coin out there

Centralized anything is suspect....says the centralized leader of ETH.....

Etherium is also centralized.

Absolute Power corrupts absolutely.

I thought this guy was done playing in decentralization and moved his blockchain to a more gov-friendly PoS environment? Did I miss something? Ethereum validators won't have the capability of censoring transactions? Someone help me out here, please?

Says the centralized head of centralized ethereum

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