Developments in the world of cryptocurrency have accelerated since the fall of Sam Bankman-Fried's FTX exchange. What does the future hold for ICP?
Developments in the world of cryptocurrency have accelerated since the fall of Sam Bankman-Fried's FTX exchange. As the fallout spreads, a massive loss of confidence has gripped investors and traditional financial institutions. For example, on Friday, 11/18/2022, Bank of America downgraded Coinbase from "buy" to "neutral." Meanwhile, cryptocurrency holders are migrating away from centralized exchanges in favor of hardware wallets and emerging decentralized exchanges similar to the upcoming Infinity Swap marketplace.
But that's not the most interesting story.
BitBoy, the New Champion of ICP
According to information from Crypto Leaks, it would appear that Sam Bankman-Fried or his associates may have colluded with misinformation specialists to create Arkham Intelligence. Moreover, the end game may have been a coordinated campaign to discredit rival blockchain projects, including ICP. Part of this potential collusion purportedly involved arranging for an alleged hit piece against ICP to appear in the New York Times.
Ben Armstrong (BitBoy) recently sat down with Dominic Williams, Founder, President, and Chief Scientist at the DFINITY Foundation, to dig into the details of accusations of intrigue that have been levied against Sam Bankman-Fried's FTX crypto empire. The conversation also provided valuable insight into Dominic's perceptions of price action, the expertise behind the Internet Computer, and blindspots among big institutional investors. It's well worth watching in full, especially if you're a fan of spy thrillers and corporate espionage.
Seriously, the unfolding plot seems as twisty as a Stieg Larsson novel. For those needing a recap of the FTX drama thus far, even Joe Rogan is talking about it.
Positive Re-evaluations of the Internet Computer
Suffice it to say, the drama surrounding FTX has breathed new life into the Internet Computer community. It's great to discover that the game may have been rigged against us. Despite everything, based on metrics like GitHub commits, we're still the largest blockchain ecosystem with the greatest number of developers. Best of all, that growth has been entirely organic and grassroots. With Sam Bankman-Fried and his collaborators no longer capable of alleged collusion against competitors, now is the Internet Computer's chance to shine!
- Robbie Kenllis from Cryptomode.com says ICP is one of the top three "must-have cryptocurrencies to build a lucrative portfolio for 2023." Among the Internet Computer's distinguishing features, he notes, "Because of its original technology, Chain Key Cryptography, Internet Computer (ICP) remains one of the most secure and scalable Blockchains."
- Forbes ranks ICP among its top 6 metaverse coins. Although the magazine's assessment of the project is mixed and based on incomplete information, once can hope the image of the Internet Computer will continue to improve after the downfall of FTX and its associated business partners.
Conclusion: A Bright Future Awaits
Curious about what comes next for the Internet Computer? Don't get the details secondhand. Instead, go straight to the source! The DFINITY Foundation will be holding another global R&D meeting this Wednesday that is completely open to the public. Come, learn more about the Internet Computer's bright future!
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