Why You Can’t Blame Bitcoin, Ethereum for Crypto’s Existential Crisis

"For the time being, the [crypto] industry has really kneecapped itself," says Nicholas Prouten, chief operating officer of global payments platform LODE Payments International. For something like FTX to take place at such a crucial time for the industry, "is really bad a devastating loss for those who lost funds in the fiasco," he tells Daniela Cambone. Prouten speculates, "this is a shining moment for the decentralized finance space," and this is an opportunity for this side of the industry to say, "we are the future of finance." "The shift is happening and you can't bury your head in the sand any longer," he continues. "LODE is all about autonomous function," Prouten stresses, "we don't have control of your funds, that's what it's all about and that's so important." We can't freeze or withdraw your money, and this helps build trust, he says and argues, "gold backed currency is stability and peace of mind." "LODE has always been about restoring silver and gold to the monetary system," Prouten concludes.

#FTX #blockchain #gold

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