FTX was one of the world's largest cryptocurrency exchanges until it was shut down earlier this month.
Following the demise of Sam Bankman-Fried's crypto empire, the government has increased its scrutiny.
Increased regulation threatens to end the free-wheeling, Wild West era of digital assets.
"The FTX crash has gained international attention," Gerard, David
Al Jazeera spoke with a strong critic of the crypto sector and the author of Attack of the 50 Foot Blockchain.
"The regulators don't care if cryptocurrency self-destructs." They are concerned if it impacts anyone else."
BlockFi, a cryptocurrency lender, stated it has "substantial exposure" to FTX and warned of a probable bankruptcy case.