Exchanges going under proves that people are greedy and/or stupid, but it doesn’t inherently mean every crypto project is bad. It doesn’t seem like people holding their own keys are having a bad time right now. Sure, prices of these assets are down, but a hardware wallet is an easy way to make sure your assets don’t end up being given away during a bankruptcy proceeding.
No, but it’s lost the benefit of doubt.
Starting from the position that crypto is likely fraud, and those participating in it are facilitating (wittingly or not) money laundering, is spreading from financial peripheries to money centre economies.
Considering that, instead of owning productive assets that make society better as a whole and provide real value to people, they own tokens that so far do nothing and are only useful due to the exchanges, then yes... that's a pretty bad time.
I don't think that will be a very large market.
Governments are modernizing trade and settlement systems. Other areas of tech are booming, and one could conceivably still get in at the ground floor. And who knows, we may have yet to even see the bottom of where crypto will drop.
If I were in crypto, I'd be looking at AI/ML with hungry eyes.
I do suspect that blockchain's killer app may not be tradeable securities, or rights, but something more mundane like Walmart's inventory reconciliation system.