Many of the centralized crypto platforms that collapsed throughout 2022 had something in common. It’s a cheeky young leader with many followers on Twitter. However, while their perceived success made a huge impact on the cryptosphere, public trust in them ultimately proved misplaced, with disastrous results each time. As a result, the priorities of cryptocurrency leadership must change.
Twitter’s attention economy tends to reward tweeters with their most controversial opinions, but as an industry, we need to recognize that the loudest voice in the room isn’t necessarily the one to be heard. Therefore, the crypto industry needs to realign its leadership priorities if it wants to avoid repeated FTX meltdowns in the future.
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Before FTX’s demise, CEO Sam Bankman-Fried’s Twitter antics (which frequently got into arguments with others in the industry) garnered him over a million followers. However, no matter how much his audience grew, he was frequently found picking bones with other Twitter users of his, and couldn’t seem to resist the sh*tposts.
Mostly post shit on twitter tbh
—SBF (@SBF_FTX) October 12, 2021
Corrupt platform leaders aren’t the only ones guilty of reckless tweets. His CEO of Binance, Changpeng Zhao, is also known for his Twitter style with Sam Bankman-Fried right before FTX collapsed. last monthThis is just the tip of the iceberg, and while many of these tweet-loving commentators are purged with each bear market, their influence is too strong to ignore.
So here is the solution. You can’t keep paying attention to boastful behavior. Instead, as a community, we should invest in platforms and leaders building products that effectively solve problems. It’s time to ditch the cult of individuality.
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*All investment/financial opinions expressed by NFT PLAZA are based on the personal research and experience of the site moderators and are intended for educational material only. , the product should be thoroughly investigated.
Corey Wilton is the co-founder and CEO of Mirai Labs, the international game studio behind Pegaxy. Renowned speaker and P2E thought leader, he founded the first company in the cryptocurrency industry in 2018. This is a customer support company designed to help ICO companies with customer service.
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