Vitalik Buterin Urges Disillusioned Crypto Investors To Focus On This Instead Of Prices Amid FTX Fallout

Ethereum (CRYPTO: ETH)  co-founder Vitalik Buterin has suggested that the cryptocurrency community should concentrate on the technology and applications rather than the prices of cryptocurrencies.

What Happened: On Sunday, CoinMamba, a self-proclaimed crypto investor said on Twitter, "After 9 years in crypto I’m kinda exhausted. I want to move on and do something different with my life. Tired of all these scammers and fraudsters.”

After 9 years in crypto I’m kinda exhausted. I want to move on and do something different with my life. Tired of all these scammers and fraudsters.

— CoinMamba (@coinmamba) December 3, 2022

Buterin responded stating that it would be beneficial to move away from the trading and investment world and become more involved in the technical and application side of things.

See More: Best Crypto Apps

I'd recommend increasing your distance from trading/investing circles, and getting closer to the tech and application ecosystem. Learn about ZK-SNARKs, visit a meetup in Latin America, listen to All Core Devs calls and read the notes until you've memorized all the EIP numbers...

— vitalik.eth (@VitalikButerin) December 3, 2022

Since the collapse of FTX (CRYPTO: FTT) and the following ripple effect that caused several exchanges to declare bankruptcy, BlockFi being the latest, the crypto sector has been overwhelmed by bearish sentiments. “Being in it for the tech is already a significant and positive culture pivot, relative to being in it for price movements!” Buterin tweeted.

Price Action: At the time of writing, ETH was trading at $1,298, up 2.75% in the last 24 hours, according to Benzinga Pro.
Photo by Duncan Rawlinson on Flickr

Read Next: Sam Bankman-Fried To Testify Before U.S. House Committee After 'Learning and Reviewing' FTX Crash