According to Decrypt, Vitalik Buterin, the Ethereum co-founder, said the colossal collapse of FTX was inevitable because of its centralized nature. “This year we’ve seen a huge number of things that break because they have a model which is fundamentally bad,” Buterin said when asked about the collapse of FTX and other cryptocurrency companies this year. Buterin noted that people were more interested in the marketing of FTX and the “personalistic style” similar to that of “1930s dictators” which is the “exact opposite of every ethos of crypto is a project that tries to be decentralized.”