Is Bitcoin the only crypto that will survive FTX? | Interview with Bitcoin maximalist

The failure of FTX and a variety of other CeFi platforms in 2022 has actually strengthened a Bitcoin maximalist story, according to which the majority of the crypto environment will ultimately collapse due to its centralization.

Jeff Cubicle, Bitcoin supporter and author of “The Rate of Tomorrow”, thinks central crypto platforms such as FTX and Celsius have actually wound up duplicating the standard monetary system with all its intrinsic defects.

“All of crypto is attempting to restore a monetary system that we currently have actually based upon adjustment and centralization,” stated Cubicle, in a special interview with Cointelegraph.

Even Defi platforms, which look for to supply a peer-to-peer, trustless option to standard monetary services, are bound to stop working, according to Cubicle, given that they are being constructed on procedures that have actually compromised decentralization and security in order to improve scalability.

To Cubicle, Bitcoin is the only crypto that stays decentralized and protected enough for being the base layer of the future monetary system.

“The whole crypto environment is going to go to absolutely no besides Bitcoin”, Cubicle stated.

To discover more about why Bitcoin might outlast the remainder of the crypto environment, take a look at the complete interview on our YouTube channel, and do not forget to subscribe!