everyone's waiting for "this cycle's FTX" but what if we're already living in it?

2022 = loud explosions, everyone panicking
2026 = slow bleed, nobody notices

no dramatic collapse this time. just 100+ projects silently shutting down. exchanges pulling out of markets. zombie L1s pretending they're still alive. the whole industry just... emptying out.

and while you're watching for the big bang? your data's getting stolen. your net worth's leaking. walls are wide open and nobody's guarding them.

the crash isn't coming. it's already here. just happening in slow motion so nobody's screaming about it yet.

maybe the real FTX was the projects we lost along the way 💀