WILL THIS DRAWN-OUT CRYPTO WINTER EVER END? : FTX Trading Ltd, a leading cryptocurrency exchange based in the Bahamas, suffered a devastating collapse earlier this week. The company filed for bankruptcy, and top leader Sam Bankman-Fried resigned as the CEO. Crisis befell FTX earlier this month after prices for the exchange’s native crypto token, FTT, plummeted, and users raced to withdraw their assets. Binance Holdings tentatively agreed to buy FTX.com amid the exchange’s liquidity crunch. Still, they backed out of the deal following a short period of due diligence. Investors were describing cryptocurrency as the future of money only a year ago. Non-fungible tokens (NFTs) were exploding in popularity. It seemed people couldn’t get enough of Bored Apes and the CryptoPunk series of NFTs. In the 12 months since, the world’s two most significant digital currencies have lost three-quarters of their value, collapsing with the riskiest tech stocks. No one is talking about NFTs anymore. Once valued at roughly $3 trillion, the industry now sits at around $900 billion. FTX’s rapid collapse suggests that no company in the barely regulated world of crypto industries are safe. [Comment by Dhanusha Gokulan, Chief Reporter]