The permanent problem of crypto

I'm sorry to say that Bitcoin has not been cancelled. After the FTX collapse, I had written that I was happy that crypto had not been officially regulated in India. It's clear that apart from taxation-based measures, there won't be an actual crypto ban in India, unlike, for example, China. This is fine. Crypto should not be regulated, and those who dabble in it should be left to their own devices. They should be free to go bankrupt in the manner and time they choose. At the same time, the FTX scam has not been proven to be the death knell of crypto, something that one could have hoped for. This implies that the cryptocurrency market may now be a permanent fixture in the global financial landscape. FTX has demonstrated that it's possible to attract billions from investors around the globe and squander it all, and yet, this doesn't fundamentally challenge the under