A Reckoning for Crypto and FTX

To the Editor:
I’ve been hoping for some sort of catalyst that would implode the crypto market, and it has finally happened (“The Crypto Ice Age Is Here. What’s Ahead for Bitcoin and the Stocks,” Dec. 16). Hopefully, the FTX bankruptcy sends a shock wave through the crypto industry that triggers new regulations to not only keep the everyday investor safe, but also to help further legitimize crypto assets as a true store of value, albeit a risky one. Personally, I cannot see myself investing in any crypto asset (especially in my 401(k)!) until major regulation takes hold. I think the continued volatility and beatdown of the crypto market—coupled with an apparent Ponzi scheme turned bankruptcy—will certainly accelerate reforms. Therefore, let the blood spill.

Alec Bicknese, New York