Sam Bankman-Fried

Nishad Singh, former head of engineering at FTX, took the stand this week in the fraud and conspiracy trial against Sam Bankman-Fried.

"There were red flags all over FTX," said the New York Times' David Yaffe-Bellany. "Even in the kind of renegade world of crypto, these sort of lessons from traditional finance still apply."

The founder of bankrupt cryptocurrency exchange FTX faces fraud allegations in New York.

The cryptocurrency industry seeks to create a decentralized, peer-to-peer means of exchange, but is it really just a speculative bubble?

Despite a raft of prosecutions and losses to investors in the billions, some say the industry has what it takes to find its feet.