Usually the government gets its way when it comes to regulations and the determination of how a company or an asset should operate. Largely we see companies comply and sometimes cower at the big stick of regulations hitting them very hard. It isn't quite often we see companies bold enough to actively slug it out with the government. This is why crypto is a bit interesting, as we're like radicals in the regulatory space despite our relative inexperience. Usually when you fight a crypto project unjustly, it fights back.
I use the word 'unjustly' to highlight an important point. Not every regulation is unwarranted and some are even necessary. Consider the FTX case for instance, or the fall of UST Terra. Surely these projects would have objected to something or fought back if they operated honestly and transparently in the space with genuine intentions. Yet that doesn't mean others should be victims for crimes they didn't commit, as we so often see. The victimized are fighting back quite strongly and saying no. When you have nothing to hide there really isn't much to be afraid of.
I have always seen decentralisation as a huge win for transparency and honesty. It is quite sad that we still have quite a number of players who don't follow the rules or aren't really decentralized but operate in the space. This is a free for all for now, but very soon the squeeze is going to be put on this space and we'd see quite a number of shaky projects go down. Many are simply trying to cash out now before that impending squeeze comes, which is another reason why we must be weary about where our money goes. Those who survive the onslaught will prove beyond reasonable doubt to be the legitimate transformers in the crypto space.
Any project that buckles under uncertainty should be avoided. Falling doesn't mean having our prices decline but having our fundamentals questioned and dissected. Imagine the PR FTX was getting from the activities they embarked on before the entire project was called into question. If that were Hive the story will be a lot different, as we can see in the case of XRP which has fought back and won. For FTX there's absolutely nothing to fight back, and perhaps no amount of re-branding will ever win the trust of users for that particular and associated exchanges again.
The crypto journey is a marathon both for the individual and projects that call the Blockchain home. One can say adversity is our true test in this space and we could fail quite badly from the start by our intentions. It takes nerves to really pledge to this space for the long haul, but I can see why those who do are ready to slug it out to the very end. Am sure the regulators themselves are quite surprised by the crypto space and our willingness to fight back when we believe in our project. Nobody is just going to lay down and watch the space revolutionize everything without a fight.