According to a Canaccord research report, the digital asset industry has resumed growth since the collapse of the FTX exchange in November 2022. FTX's bankruptcy was a major factor in the cold winter and bear market in the cryptocurrency market.
Analyst Joseph Vafi pointed out that over the past year, the digital asset industry has shifted from a post-FTX consolidation/recovery phase to growth and business model/total available market (TAM) expansion. The launch of spot exchange-traded funds (ETFs) in the United States earlier this year was a positive catalyst for the crypto market. The approval of BTC and ETH spot ETFs heralds broader institutional adoption of digital assets, and this trend is expected to continue. (CoinDesk)