The article outlines how the industry’s reputation, which was already tarnished, has suffered following the collapse of FTX and amidst trial of Sam Bankman-Fried. Garcia notes that more regulation and strong, ethical leadership are required for for public perception of the industry to change.
Here is an excerpt from that article:
Still, convincing a skeptical public that crypto isn’t inherently plagued by fraudsters will be difficult. Imposing regulation will be paramount, Helio Fred Garcia, a professor of crisis PR at NYU and Columbia, explains. And the SBFs of the world will need to be properly censured. Indeed, says Garcia, the broader public won’t come around “until first there’s a shakeout. And second, there’s the imposition of adult supervision.”
Read the full article here.