On Dec. 4, Vitalik Buterin responded to a question from a popular community member who said they had grown tired of the scammers and fraudsters in crypto after nine years.

Crypto is used primarily as a vehicle for speculation at the moment, and that is where fraudsters thrive. The FTX meltdown was caused by a bank run catalyzed by major overleveraging and lending.

Buterin suggested distancing from trading and investing and focusing on technology and applications.

(By Martin Young)