Here's a lenghty blogpost by Martin Armstrong about FTX, the looming chaos and how their conduct & subsequent collapse marks the beginning of the end for (most or all?) blockchain projects.
Armstrong concludes his text with:
The collapse of FTX will now become a contagion for the crypto world. This 20-something group of inexperienced traders has signaled the demise of an industry that was getting all the hype with no substance. This crypto world will be seen as the DOT COM Bubble of 2000. With a recession on the horizon, the collapse of sovereign debt, and the monetary system as a whole, people will be looking for more of the safe bets rather than roll the dice on crypto. Nothing ever goes straight down. But by year-end, the volatility should perk up everyone’s view of the world.
I think I'll buy some gold next.