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Cryptocurrency firm FTX’s fall pains industry, but Texas stays optimistic

FTX’s bankruptcy has been a painful setback for the industry. But many legislators, investors and enthusiasts remain believers in making Texas crypto’s top destination.

Lee Bratcher, president of nonprofit trade association Texas Blockchain Council, makes the opening remarks at the Texas Blockchain Summit in Austin on Nov. 17 2022.
Sam Padilla, a member of ATX DAO, speaks at a panel discussing smart contracts and decentralized autonomous organizations (DAOs) at the Texas Blockchain Summit in Austin on Nov. 17, 2022.
U..S. Sen. Ted Cruz (right) speaks to Peter McCormack on a panel entitled "Bitcoin & Freedom" at the Texas Blockchain Summit in Austin on Nov. 18, 2022.
From left: State Sen. Royce West, D-Dallas, state Reps. John H. Bucy III, D-Austin Rep. Giovanni Capriglione, R-Southlake, and state Sen. Angela Paxton, R-McKinney, speak at the Texas Blockchain Summit in Austin on Nov. 18, 2022.

“There’s going to be a lot to unpack”

Sam Bankman-Fried, CEO and Founder of FTX, walks near the U.S. Capitol in Washington on Thursday, Sept. 15, 2022.

“We have work to do”

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