One downstream impact is likely to be fewer Wall Street firms/banks getting involved with crypto. Already, we have seen the repercussions of FTX's collapse hit other crypto exchanges, and that gives a cautionary tale for traditional finance. The Federal Reserve recently warned financial institutions about investing in crypto, and though they didn't mention FTX by name, they said "contagion risk" stemming from poor oversight among crypto companies pose a risk to banks.

Increasingly, investors and users are questioning the safety and trust of companies and tokens, even companies that have been around for a relatively long time. FTX was so embedded with so many different crypto companies, it's hard to know where its financial influence stopped.-PR