Despite FTX crisis, it's not the end for the crypto sector, says industry insider

It's been a wild week in the crypto market following the collapse of exchange platform FTX, but an industry insider says that while the situation is probably one of the most unfortunate events in the history of the asset class, it's not the end for the sector.

Crypto prices sank dramatically after rival exchange platform Binance pulled out of a deal to purchase FTX earlier this week, citing significant concerns around reports of mishandled funds and regulatory investigations.

And on Friday, FTX filed for bankruptcy and CEO Sam Bankman-Fried stepped down.