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The Texas Tribune
The Texas Tribune
National
Alex Nguyen

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

FTX Crypto Sam Bankman-Fried Texas United States Lee Bratcher Joe Rotunda Azul Sordo blockchain Texas Tribune
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.
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. (Credit: Azul Sordo/The Texas Tribune)

The crypto community in Austin was buzzing.

Hundreds of investors, legislators, professionals and enthusiasts packed the halls of the AT&T Hotel and Conference Center at the University of Texas on Nov. 17-18 for the Texas Blockchain Summit. For two days, there were discussions on everything from bitcoin mining to cryptocurrency regulations to blockchain innovations. But one thing was on everyone’s minds: the spectacular collapse earlier this month of major crypto exchange FTX and its billionaire CEO Sam Bankman-Fried, who was once the industry’s face in Washington and a Democratic megadonor who gave $1 million to Beto O'Rourke.

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