What's Next for Crypto in the MIT Technology Review

[The] sudden implosion of the popular cryptocurrency exchange FTX has intensified a political war for the soul of crypto that was already raging. 

In the coming year, we are likely to see that fight come to a head in US courtrooms and in Congress. The future of finance hangs in the balance. […]

Although crypto enthusiasts may now be inclined to distance themselves from FTX, the episode reflects “the crypto we created,” says Neha Narula, director of the Digital Currency Initiative at MIT.

To begin with, she says, the industry is over-reliant on centralized exchanges like FTX. But it’s not just the centralization. “It’s also this token casino economy,” says Narula.