Why should driving priorities change in cryptography

Several centralized crypto platforms collapsed throughout 2022 There was one thing in common: a cocky young leader with a large Twitter following. However, while their perceived success has given them a huge impact on the crypto world, the public’s trust has been found to be misplaced – every time, with disastrous effects. As a result, the priorities of cryptocurrency leadership must change.

While Twitter’s attention economy tends to reward tweeters for the most controversial opinions, we as an industry need to recognize that the loudest voices in the room aren’t necessarily the ones we should be listening to. Therefore, if we want to avoid a repeat of the FTX collapse in the future, the digital currency industry needs to rearrange its leadership priorities.

Trouble at the top

Before FTX’s collapse, CEO Sam Bankman-Fried’s Twitter antics — which often involved altercations with other industry figures — had garnered him more than a million followers. However, no matter how much his audience grows, he can’t seem to resist posting, and interacts frequently with other Twitter users who have picked to bone with him.

The leaders of collapsing platforms aren’t the only ones guilty of reckless tweeting. Binance CEO Changpeng Zhao is also known for his Twitter style, as he fell out with Sam Bankman-Fried before the FTX crash. Last month. This is just the tip of the iceberg, and although many of these tweet-happy commenters are sanitized in every bear market, their influence is too powerful to ignore.

So here is the solution. We cannot continue to reward ostentatious behavior with our attention. Instead, we as a society need to invest in platforms and leaders to build products that efficiently solve problems. It’s time for us to abandon the cult of personality.

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*All investment/financial opinions expressed by NFT Plazas are derived from the personal research and experience of our site managers and are intended as educational materials only. Individuals are required to fully research any product before making any type of investment.

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