What the FTX is happening in crypto?

Wondering what exactly is going on in the crypto world? Expert Dan Wilk breaks it all down. Plus what recent events mean for the future of the space.

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December 5, 2022 | 28 minute read

About this episode

In this episode, Director, Investment Research, Kara O’Halloran, is joined by FS Investments digital asset specialist and Client Portfolio Manager, Dan Wilk, to discuss the future of the crypto industry after the catastrophic collapse of FTX. The two discussed what happened and how this massive failure occurred, the likelihood of future regulation and Dan’s long-term outlook for the crypto space.

Transcript excerpt:

[00:00:00] Dan Wilk: Think about how many times Bitcoin has been deemed, dead or gone and battle tested over the 12-year life cycle. It’s pretty remarkable. But the software continues to exist and thrive on. Different humans are just interacting with it cause they’re all tattered, broken, and bruised.

[00:00:19] Kara O’Halloran: Welcome back to FireSide, a podcast from FS Investments. My name is Kara O’Halloran. I’m a director on the investment research team here. On today’s episode, the collapse of one of the world’s largest crypto exchanges, FTX has dominated headlines in recent weeks. So today we’re going to talk about what, and more importantly, how this massive failure happened and what this means for the broader crypto landscape moving forward. So to talk through all of that, I have brought on FS’s own crypto expert and client portfolio manager, Dan Wilk. Dan, thanks for joining me.

[00:00:51] Dan Wilk: Great to be here. I’m amazed you invited me back. Well, but I guess it took a pretty big event to get me here, huh?

[00:00:56] Kara O’Halloran: Well actually, I have to say, I think this is long overdue because our Spotify wrapped came. I’m a big Spotify Wrapped fan, so it can tell me how much Taylor Swift I listened to during the year. But we get a Spotify Wrapped for our podcast, and you are our most popular episode ever. So I think the listeners are going to be very excited that you are back.

[00:01:14] Dan Wilk: Yeah, it could be me, it could be the topic. I’ll probably lean more on the topic, but…

[00:01:18] Kara O’Halloran: No, we’ll go 50/50.

[00:01:19] Dan Wilk: There you go.

[00:01:20] Kara O’Halloran: You were a great guest though.

[00:01:22] Dan Wilk: I like it.

[00:01:22] Kara O’Halloran: And I know it’s been a quiet couple weeks for you, right? Nothing going on.

[00:01:25] Dan Wilk: Really quiet. Not a lot to, uh, to look at, which, we won’t have much to talk about to it.

[00:01:29] Kara O’Halloran: Oh yeah. Perfect. So we’ll, we’ll get done in a couple minutes. No. Right.

This information is educational in nature and does not constitute a financial promotion, investment advice or an inducement or incitement to participate in any product, offering or investment. FS Investments is not adopting, making a recommendation for or endorsing any investment strategy or particular security. All views, opinions and positions expressed herein are that of the author and do not necessarily reflect the views, opinions or positions of FS Investments. All opinions are subject to change without notice, and you should always obtain current information and perform due diligence before participating in any investment. FS Investments does not provide legal or tax advice and the information herein should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact any investment result. FS Investments cannot guarantee that the information herein is accurate, complete, or timely. FS Investments makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information.

Any projections, forecasts and estimates contained herein are based upon certain assumptions that the author considers reasonable. Projections are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will vary significantly from actual results. The inclusion of projections herein should not be regarded as a representation or guarantee regarding the reliability, accuracy or completeness of the information contained herein, and neither FS Investments nor the author are under any obligation to update or keep current such information.

All investing is subject to risk, including the possible loss of the money you invest.

Kara O’Halloran, CFA

Director, Investment Research

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