According to Mars Finance, on February 11th, Haseeb, Managing Partner of Dragonfly, posted on X, "I've heard a lot of people say this week that market sentiment is worse than when FTX crashed. No, it's not even in the same league. That's just typical 'recency bias.' The FTX crash was an abyss of despair the entire industry hadn't experienced since Mt. Gox; it was a true systemic collapse. At the time, we didn't even know what would survive, let alone whether it would lead to a de facto global ban on the crypto industry. Nobody knew when the industry would recover, and some even worried that the entire industry might be forced into 'hibernation.' Bitcoin prices have fallen since October, which is certainly painful. But in reality, the fundamentals of the crypto industry look perfectly fine. The system has withstood the test. The global regulatory environment is clearly improving, institutional and corporate adoption continues to advance, prediction markets are exceptionally active, perpetual contract DEXs have just hit all-time high trading volumes, and stablecoin adoption is experiencing explosive growth. It takes time. But we'll be fine."