it's time for the whole industry to change

(Finn Brunton, Professor at UC Davis)

"Crypto as an industry is approaching a decision point where it needs to start to figure out what its applications are beyond being a purely speculative casino asset, which is what it has morphed into. Right? A chip in a casino. A form of gambling."

Bitcoin's price has dropped 63%

And the overall cryptocurrency market

capitalization has lost $1.63 trillion in value

The collapse of Sam Bankman-Fried's FTX

exchange hammered a nail into the market

"The near future of the crypto marketplace is, and I say this sincerely, is extremely hard to predict. The questions, the open questions that need to be answered on the horizon are, number one, regulatory, what is regulation going to look like?"

(Benoit Bosc, Global head of product at GSR)

"You have Apple, you have Instagram that's on Polygon, you've had Crypto.com that's done a partnership with Coca-Cola, you've had Nike that's gone huge onto NFTs. Same thing with Adidas. Like this is a moment where, you know, those companies are starting to see where the industry is going and they want to be part of it. I also think right now, like I was saying, like GameFi, and you know, the platewear model where you can transfer assets cross-game. The day this dam is bridged like I think it will be would be very difficult to go back."