The recent collapse of the crypto exchange FTX caused the price of cryptocurrency to plummet. Bitcoin fell by 16000 dollars at one time, and then it was repaired. Although the digital currency sales market has been disordered recently, Samson Mow, a supporter of BTC, still believes that the failure of large and medium-sized encryption enterprises is not easy to destroy Bitcoin.

In an interview with CoinTelegram, Mow said that the crypto financial market is still experiencing the impact of FTX infection wave, and it is estimated that in the near future, it will continue to experience a large number of crashes of similar attributes.

The management added that the collapse of Terra ecosystem may be an element of FTX diffusion, which has formed Donomi domino effect on the market and major crypto loan companies such as Celsius and Voyager.

Mow felt: "The encryption industry will continue to produce a lot of similar situations, because all such projects are useless card houses.". He said that the collapse of FTX was "very easy to see" because of the connection between the crypto exchange and Alameda.

He added: "The general rule of thumb is that if a company prints a token for no reason, and then sells it to a retail company, or uses it as a property, perhaps you should expect that they will eventually collapse.". Samson Mow is CEO of JAN3, a new Bitcoin technology company.

According to Mow, unless the debt can also be proved, it is meaningless to make unremitting efforts to create credibility in the field (such as the confirmation of the continuous disclosure of risk reserves by the exchange). The statement refers to that participants transfer funds to each other to fabricate their own reserves before providing direct evidence. "All software that can be played will also be played."

Mow also believes that unless it is to confirm the debt, the unremitting efforts in this field to confirm the credibility - including more and more risk reserve confirmation published by the exchange - are meaningless. "All software that can be played can be played," he said. He means that investors hide their reserves by transferring funds to each other before taking out direct evidence.

He said: "Then you must take into account the legal requirements, which requires financial audit, but it may not help, because FTX also has an auditor.".

With the spread of FTX in the whole market, you may think that some of the largest encryption enterprises in the world may face the worst results. However, Mow firmly believes that Bitcoin can overcome other problems even when dealing with the hypothetical scenario of unsuccessful encryption giants such as Tether or Binance.

He said: "Bitcoin will get rid of other problems only because of its design and the indisputable need to improve the currency in the history of human development. The failure of all giants is a temporary setback, just as the harm of Mount Goastri will no longer be critical.".