Pick the culprits: The Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and their array of lawsuits, the US Congress’ inability to pass a major blockchain law, a lackluster “President’s Economic Report.” ‘ the Biden administration with 30 pages bashing the industry, the closure of two of the most crypto-friendly US banks (Signature and Silicon Valley Bank), the Terra implosion and its domino effects, the FTX failure and its domino effects, the ongoing tide of decentralized finance (DeFi) exploits in vulnerabilities, blockchain bridge failures, falling token prices, rising negative public opinion, reduced institutional ownership – to name just the major issues facing the blockchain industry today.
