🔔Crypto News Flash🔔: Remember the FTX exchange collapse of November 2022? It was a chilling time, like a Game of Thrones winter but with more Bitcoin. The fallout led to a crypto winter so cold, Bitcoin's price hit rock bottom at $16,000. 😱 FTX's downfall triggered a domino effect of bankruptcies and layoffs among Web3 firms.

But every cloud has a silver lining! The incident sparked regulatory action, leading to more transparent, investor-friendly frameworks for crypto exchanges. Even Binance, despite being slapped with one of the largest fines in history, stepped up its game with a Proof-of-Reserves system.

In the aftermath, global regulators collaborated to prevent another FTX-like meltdown. The European Council adopted the first comprehensive legal framework for the crypto industry, and Hong Kong and Dubai introduced crypto-friendly regulations.

So, while we remember the FTX collapse as a dark time, it also led to significant strides in crypto regulation and transparency. Here's to learning from our mistakes! 🥂