Hoskinson Says Short-Term Events Won’t Stop Crypto Revolution

• Charles Hoskinson recently tweeted that cryptocurrencies and blockchain technologies are changing the world.
• Hoskinson states that short-term events won’t stop the revolution.
• The recent statement comes amid the fall of FTX and its impact on the wider crypto market.

Charles Hoskinson, the co-founder of Cardano, recently took to Twitter to highlight that short-term events won’t stop the crypto revolution. Hoskinson added that cryptocurrencies and blockchain technology are changing the world.

The CEO went on to add that today is Wednesday, and there will be another Wednesday and another. The tweet also has a GIF of a honey badger that is trying to attack a king cobra. It can be believed that he is implying that no matter what happens in the cryptosphere, one should continue to build, grow, and innovate.

The tweet by the ADA co-founder surfaced after the agony that the crypto market is going through because of the FTX drama.

Over the past week, the FTX story has been developing. They appeared to be in dire need of assistance as FTX and their native token, FTT, crashed quickly. However, Binance consented to sign a letter of intent to acquire their rival.

Although now, Binance has formally abandoned the acquisition after reports that the deal may be in peril circulated throughout the day. It was revealed in a statement that the problems FTX is experiencing are much more serious than previously believed.

Binance also expressed in one of the recent tweets that the deal is no longer in place due to the probe from US regulators for alleged mishandling of customer funds. CZ’s exchange also hoped to support FTX’s customers by providing liquidity. However, Binance mentioned that the issues are beyond their control or ability to help.

As a result of the FTX collapse, the entire crypto market experienced bloodshed. Major cryptocurrencies, including BTC and ETH, dropped to $15,682 and $1,083, respectively, as the FTX empire fell.