Ben Mcshane | Sportsfile | Getty ImagesBinance's agreement to salvage rival cryptocurrency exchange FTX from collapse shows how no one is safe from the chill of crypto winter, according to industry experts.
"It shows that no one is too big to fail," said Pascal Gauthier, CEO of crypto wallet firm Ledger.
On Monday, the CEO of cryptocurrency exchange FTX, Sam Bankman-Fried, took to Twitter in since-deleted tweets to play down concerns his crypto trading empire was at risk of collapsing.
The debacle highlights how the crypto industry is becoming more centralized and straying from its decentralized roots, according to Gauthier.
"FTX is a very big warning for everyone," Gauthier said in an interview on CNBC's Squawk Box Europe Wednesday.