The FTX debacle is still fresh in our minds and probably the shock wave is still on its way to topple other crypto companies as well. But we can already take stock and estimate what the consequences will be for bitcoin (BTC). Jaran Mellerud, a researcher from Norway, listed three of these consequences.

You want to earn $500 a day with only a few minutes of work. Click on the link for more information

Bitcoin faces stricter regulations

An obvious consequence is that legislators and regulators will now focus extra on the crypto industry. Sam Bankman-Fried (SBF), the ex-CEO of FTX, has long been a figurehead of the crypto industry. American regulators trusted him, partly because he worked closely with them. He also made large donations to the Democratic Party. That trust has now been violated, says Mellerud. But investors are also disappointed, of course:

Large investors will have less interest in crypto

You want to earn $500 a day with only a few minutes of work. Click on the link for more information

Mellerud goes on to say that SBF was not only loved by regulators but also large institutional investors saw him as a trustworthy person. Crypto is already a somewhat tricky subject for this group of investors because it is so new. But now that SBF has damaged the confidence of these investors, it is more likely that the investors prefer to remain on the sidelines.

The fact that interest from this angle will decrease due to the actions of FTX could have negative consequences for the entire industry. How large these consequences will remain to be seen. For example, Mellerud states that interest in the crypto industry had been declining considerably for months before everything erupted. As a result, the final effect of the FTX drama may be smaller.

Bitcoin bullish: Investors are fed up with scams

Not everything is negative in this story, by the way. Mellerud emphasizes that none of this had anything to do with bitcoin. “Fundamentally, FTX meant nothing to Bitcoin. Sam Bankman-Fried has even stated that he doesn't like Bitcoin," the researcher said. He adds:

“I suspect that after this carnage, Bitcoin dominance will increase significantly as more and more people get tired of participating in the crypto market and settle for holding Bitcoin instead.”

You want to earn $500 a day with only a few minutes of work. Click on the link for more information