Speakers and attendees at two events in Miami on Thursday expressed optimism that there could be a silver lining to emerge from the madness.
Hundreds of developers, VC funders and CEOs descended across Miami at two separate conferences on Thursday.
Blockchain.com’s Smith said he didn’t see any immediate winners in the aftermath of the collapse, but he tried to place the event in context, noting that it wasn’t the first exchange to fail. “The top teams will continue to get funded,” Costanoa’s Franklin said, adding that he saw opportunities in security, insurance, and even the now-maligned centralized finance sector as other companies step up to fill in the gap left by FTX. “But there’s no doubt that this will have an impact and a chilling effect for probably a couple of years… The quality deals will still continue to get done. They’ll even be competitive. But a lot that’s not just won’t. And I think it’s relatively healthy.
While Smith said he didn’t believe that there was a single crypto city, he said he loved the energy in Miami. He noted that the majority of the company’s engineering team was in the European time zone and Singapore. Pratima Arora, Chief Product Officer at Chainalysis, said it was “time to build” and still too early to know the full impact the collapse of FTX will have on the industry.
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