In recent weeks, shockwaves have been sent through the cryptocurrency world, with major crashes affecting some of the largest and oldest currencies and platforms. Making matters worse, the popular exchange network FTX plunged into bankruptcy and legal mayhem late this year, leaving thousands of investors high and dry with their assets defunct or destroyed.

So bad are matters of late that Changpeng Zhao, the CEO and founder of the Binance cryptocurrency exchange, was quoted as saying that a comparison between the crypto market today and the 2008 Financial Crisis was 'probably an accurate analogy.'

It seems that as blockchain technology hits hurdle after roadblock, and with no sign of the end of this turmoil in sight, the way forward for crypto investors today is likely through truly decentralised platforms. To find true DeFi, it's wise to look to the unlikely niche of Meme Coins, where development teams are mostly intrepid amateurs, rather than hardened FinTech executives or 'money men.'

In the following article, we'll break down what exactly went wrong with the large and well-respected FTX exchange, and how these dramatic events affected the progenitor of blockchain currencies: Bitcoin (BTC).

We'll then analyse an example of a Meme Coin that offers genuine DeFi: Rocketize Token (JATO). We'll take a deep dive into this currency to show you that there are still crypto projects aiming for the ideals of decentralised finance.

FTX Collapse: Sun, Surf and Sanctions

Last year, the global cryptocurrency exchange FTX relocated its headquarters to the Bahamas. Quotes from the FTX executive team were positive, with Sam Bankman-Fried, a key player in FTX, saying the Bahamas were: 'one of the few places to set up a comprehensive framework for crypto.'

The reality proved to be starkly different. Not long after this upheaval, the platform was found to be in a financial crisis of its own making. This was followed by an offer of purchase by the Binance Smart Chain, FTX's largest competitor in the exchange industry.

During the discovery process of this deal, the Binance team discovered that further difficulties were lurking beneath the shiny surface of FTX's business model and work practices. Changpeng Zhao, CEO of Binance, said that it was likely FTX had 'misappropriated' users' funds and assets, and added that this was not a one-off or recent issue.

The deal fell through without result, leaving FTX bankrupt and with no choice but to shut its doors. News worsened when authorities in the Bahamas announced that they would be investigating the platform for financial wrongdoing.

A criminal investigation into a major cryptocurrency exchange dealt a massive blow to consumer confidence in decentralised finance in general. Read on to find out how this affected the biggest coin of all: Bitcoin (BTC).

Bitcoin: Caught in the Undertow

Bitcoin (BTC) was founded by an inventor using the alias 'Satoshi Nakamoto' in 2009, and upon its launch, generated a trillion-dollar industry. Bitcoin (BTC) has been the most valuable cryptocurrency asset since its inception and leads the market. It can be seen as the ultimate blue-chip stock of the cryptocurrency market.

This position at the tip of the cryptocurrency spear has been very beneficial for Bitcoin (BTC) and investors who've held assets of it, particularly in the long term.

However, it's also left Bitcoin (BTC) with a difficult hand to play: when confidence in blockchain technology falls, so does BTC. Heavy is the head that wears the crown.

With the collapse and subsequent investigation of FTX, the cryptocurrency market took a beating: Bitcoin (BTC) has fallen in value by more than 60% this year, with a heavy margin of this percentage being after FTX's crisis. Some analysts have predicted that BTC could fall below a value of $10,000, which would mark a grim milestone for the token, which has long rested above this figure. 

Rocketize Token: Bona Fide DeFi

It would seem that the place to look for cryptocurrencies that aren't leashed to this malfunctioning system is in the oft-overlooked Meme Coin space.

One such project is Rocketize Token (JATO). The token's stock symbol 'JATO' stands for 'Jet-Assisted Takeoff.' The JATO token is a BEP-20 standard and runs on the BSC platform. Taxes on transactions involving JATO are fixed at 2% of the total worth.

Half of this tax is redistributed among those holding Rocketize Token (JATO) wallets, providing a stream of passive income for investors. The other half is burned, making JATO a deflationary currency – one that will appreciate over time as its circulating supply diminishes bit by bit.

Most impressive, however, is Rocketize Token's (JATO) fully decentralised operation. The team behind the project all bought into it via the open market, ensuring their investment is transparent and they are also community members.

As such, approximately 100 people are instrumental in the development of the token, all of whom are volunteers.

One of Rocketize Token's key mission statements is to ensure complete community integration. According to the project's whitepaper, the 'Atomic Nation' is considered the same as the coin and its platform.

With this extreme dedication to the principles of decentralised finance, certainly, Rocketize Token (JATO) won't suffer the same fate as Bitcoin (BTC) and the FTX exchange.

If you'd like to know more about Rocketize Token (JATO), please follow the links below to explore the project's website.

Rocketize (JATO)

Presale: https://rocketize.io/buy  

Website: http://rocketize.io  

Telegram: https://t.me/RocketizeTokenOfficial