I first went down the crypto rabbit hole in 2016. I've gone from skeptic to fan to investor to working as a writer and a support rep.

FTX's meltdown feels like the most significant blowup we've seen in the history of this space. Even for an industry often compared to the wild west, this was truly next level. The cold-hearted deceit by someone who represented himself as a charlatan even has OGs questioning their decision to be here.

There is no 'code is law' tangent to this. There is no 'flew too close to the sun' entrepreneur who failed. There is just shameless, criminal, sociopathic behavior. Plain and simple.

The closest parallel I can draw to this event is the beginning of the pandemic. People have lost jobs, lives have been ruined, and the crypto world has been turned upside down, leaving us in disbelief, wondering what's next. For the first time in a long time, it feels like we're not promised a tomorrow.

But in the midst of all of this, I somehow feel more confident in this space and the people in it than ever before.

This is painful, no doubt, but this week we exorcized a demon, and we are lucky that we did it before he caused even more, possibly irreversible harm.

We all knew there were people like SBF in crypto. But while we have uncovered one morally bankrupt predator, that's not my biggest takeaway. The most important thing I have seen this week is the strength and compassion of the real people who make up this industry. From seeing how quickly crypto Twitter came together to investigate and commiserate to watching Dave cry on Bankless, this week showcased a level of raw emotion that I don't think we've ever seen in this space before. This event pulled back the curtain on a bunch of sarcastic trolls to reveal

That type of emotional reaction is precisely why I'm here: because this space is filled with people who actually give a fuck. How many other industries are as densely populated with people going all in on the promise of a better future? With people who actually believe their industry is - or at least can be - good for the world?

The true heart of this space is to build a better world for people where predatory actions like SBF's are no longer possible. And while it's been tough, this event has further proved that we need a decentralized, transparent financial system.

While this tech may have enabled scammers and predators, it's also brought three of the biggest ones this year to their knees. 2022 has clearly shown us that there are bad actors in this space, but it has simultaneously shown us that these bad actors eventually get ousted.

Hopefully, this event puts anyone attempting similar behaviors on notice. If you're not in this for the right reasons, if you're preying on newcomers, you may achieve short-term glory, but it is not likely to end well for you. Which FTX customer who had their net worth wiped out would trade places with SBF right now?

At the onset of the pandemic, I saw the world devolve into chaos. I saw the people around me panicking. But myself… I just felt a strange sense of calm. Something about the chaos felt easy to me. Ironically, as someone who has been through a decade+ of depression, this peaceful clarity has often eluded me in 'normal' times.

That's how I feel now: calm and confident. If we can survive this event - this dumpster fire of an entire year - and still have this many dedicated, passionate people in this space, what can't we survive? We're going to emerge stronger than ever before.

The truth is that we have a once-in-a-lifetime technology that can serve as the foundation for a more just society. We have a means of weeding out corruption and doing away with rent-seeking government and corporate overlords who spy on our every action. And most importantly, we have a group of people who have dedicated their lives to working on building something that actually matters. Don't let one bad actor take that from you.

It's ok to hurt. It's ok to question whether you still want to be here. That makes you a moral person, and it's evidence you're here for the right reasons.

The entire problem with generations prior to this one, and with most other career choices today, is that people aren't questioning the status quo. Being questioning and scrutinizing people who desperately want to do meaningful work is what brought most of us to this space, and it's what makes this industry what it is.

This week was like being diagnosed with and cured of cancer all at once. We're going to be reeling for a while. It feels painful, but we're better for it, and the future is bright. I feel lighter already.