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Join Our Telegram channel to stay up to date on breaking news coverage It has been over three months since FTX, once one of the largest and most dominant crypto exchanges in the world, filed for bankruptcy. The filing was submitted on November 11th, and it impacted the crypto world strongly, leading to further crypto price drops, while a number of other businesses in the industry also suffered additional losses, which led to failures of even more companies. With the start of 2023, the prices have started to recover somewhat, but the effects of the FTX collapse are still being felt. The newest example of this is the recent report involving Galois Capital, one of the world’s largest crypto -focused quantitative funds. The fund announced that it would have to shut down due to the severity of the FTX situation. Its co-founder, Kevin Zhou, said in a note that it is not tenable to continue operating the fund, both culturally and financially. The end of the road for Galois Capi...

Crypto-friendly cities throughout the world report growth and innovation despite recent events. The sudden failure of FTX has left many people questioning the impact this will have on the cryptocurrency ecosystem. For instance, it remains questionable whether or not crypto hotspots will continue to flourish or if there will be a decline in innovation.  While it may be too soon to fully understand the impact of the FTX collapse, industry leaders within crypto-friendly geographies believe that the FTX failure will not hamper innovation. For example, Dubai — which has been dubbed as one of the most innovative regions for crypto and blockchain development — continues to see ecosystem activity. Most recently, The Algorand Foundation, the organization driving the growth of the Alogrand blockchain, hosted its second annual Decipher conference in Dubai. The event took place Nov. 29–30, just weeks after FTX former CEO Sam Bankman-Fried stepped down and announced bankruptcy. While a number of d...