The FTX saga is a great reminder that if you have to use a for-profit company as a medium to invest, do your own DD. Even then, be cautious.

When the world was going gald, and crypto was at its peak, a lot of people just wanted to YOLO their way into crypto. A whole chambers was dedicated to the same. While there were a lot of successful stories, this is what happens when the hungry crowd piles into an unchecked space.<br><br>What happened at FTX is what happens when you use a for-profit company to invest in something, without putting in the effort to do your own DD. Sure, the Ui u/sazineo and marketing might have been great, but DD should have told you that this is a company run by a single person, and has no real track record of success. It's a miracle that many people were able to get their money out before the crash. <br><br>This is what happened when a lot of people put their trust in a company that was run by a single individual, without putting in the effort to educate themselves about the company. This is what should happen to anyone who is so reckless with their money. This is not to be pity them or anything. It's a warning to anyone who still wants to invest in crypto. Just be more cautious.<br><br>Yes, the system was indeed corrupt, but a lot of people in the space still managed to make a killing. They didn't rely on a single company to do their investments. They took matters into their own hands and made their own decisions. The difference between them and the ones who got rekt, is that they took the effort to learn.