The last few months have borne witness to major failures in the cryptocurrency space, among them FTX. As FTX crashed, centralized platforms like BlockFi, which had deep relationships with FTX and its sister company Alameda Research, also hit the ground face first. These recent spates of failures highlight several important issues in the cryptocurrency space - lack of regulation, commingling of funds, unvetted borrowing and lending, and the problems of custodial wallets and centralized platforms within the crypto space, to name a few.
