The fact that FTX is perceived as a failure of crypto is ironic

It was a failure of a massive centralized company

experience-building @ MoonPay | investing in the future of the internet

Normies need to understand what a centralized exchange is. Much of the misunderstanding is first a basic failure to understand fundamental non-crypto concepts. Same thing with money when you hear “but it’s not backed by anything.” Another huge fundamental failure to understand money in general. Or even  banking.

Really tough FUD to counter too... Crypto company == crypto in the minds of the normies.

Exactly. It’s like if E*Trade (Morgan Stanley) had a corrupt CEO siphoning/borrowing/leverging money for a side project hedge fund, that would mean Apple stock (that trades on E*Trade) was “bad.” Nonsensical. 

Much of the industry was lobbying against FTX interests at the time. Lots of failures. But not crypto.