Many of us used to count certain time on digital assets market as appealing only at the time of sensational price movements. As FTX collapsed and the hodlers and market participants confidence changed, it's not only about value anymore. Now, the attention is drawn to the stability (sic!) of stablecoins and processing the FTX crash consequences. As you know in recent weeks we've found ourselves flabbergasted by the announcement of Porsche NFT collection in times of Non-fungible tokens winter. We're happy to talk all these news with Zhong Yang Chan, Head of Research at CoinGecko.

Are USDT and other stablecoins at risk?

Zhong Yang Chan, Head of Research at CoinGecko: Despite the shrinking market capitalization of stablecoins, centralized stablecoin issuers are still able to honor redemptions and withdrawals. As long as users remain able to redeem 1:1 and redemptions are processed in a timely manner, there should still be confidence in the major centralized stablecoins, including USDT.

Read next: We predict that nothing radical will happen in the crypto market by the end of the year says Geco.one COO | FXMAG.COM

Porsche has just announced their own NFTs. It's one of the most prominent brands in the world - would it mean the NFT market isn't 'dead' yet and prices may bounce some time in the future?

Porsche's new NFT collection is a great initiative, and this follows suit from other established brands like Starbucks and Reddit announcing their own NFT collections. NFTs are still nascent, and there is space for its proposition to evolve beyond what people see today (PFPs or 'just a JPEG'). In spite of the bear market, projects are still building to bring about NFTs with utilities, phygital NFTs, and others, and we remain bullish on its future.

It is said all the consequences of FTX collapse are in prices. Would you agree or disagree?

While the price drop has been significant, it is not the only consequence of FTX's collapse. User confidence—including that of institutions—has been shaken, and there are on-chain projects that have been impacted and may be forced to fold. FTX's demise may have also likely impacted venture capitalists and funds in terms of investments in the blockchain or Web3 ecosystem, and developers may similarly be less keen on building in this space. Finally, the handling and demise of FTX have ultimately set the ecosystem's facilitative regulatory agenda and adoption efforts back.

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