Cardano co-founder Charles Hoskinson recently took to Twitter to emphasize that short-term events will not derail the crypto revolution.
Hoskinson went on to say that cryptocurrencies and blockchain technology are transforming the world.
The CEO went on to say that today is Wednesday, and that there will be more Wednesdays to come. A GIF of a honey badger attempting to attack a king cobra is also included in the tweet.
He may be implying that no matter what happens in the cryptosphere, one should continue to build, grow, and innovate.
The Cardano founder‘s statements surfaced following the agony that the crypto market is experiencing as a result of the FTX drama.
The FTX story has been developing over the last week. As FTX and their native token, FTT, crashed quickly, they appeared to be in desperate need of assistance.
Following this, Binance agreed to sign a letter of intent to acquire their competitor.
However, Binance has now formally abandoned the acquisition following reports that the deal was in jeopardy throughout the day.
In a statement, it was revealed that FTX’s problems are far more serious than previously thought.
Binance also stated in a recent tweet that the deal is no longer in effect due to an investigation by US regulators into alleged mishandling of customer funds.
Moreover, Binance exchange hoped to help FTX customers by providing liquidity. But the exchange stated that the issues are beyond their control or ability to assist.
The entire crypto market suffered as a result of the FTX collapse. As the FTX empire crumbled, major cryptocurrencies such as BTC and ETH fell to $15,682 and $1,083, respectively.