Welcome to the first episode of the Degen Dads Podcast, "FTX Drama is About to Get a lot Worse | Millennial Money canceled". In this episode, we dive deep into the recent FTX collapse and its potential ramifications for the crypto industry.We begin by critiquing the centralized system of FTX and highlighting the lack of trust and transparency. Drawing a parallel to the infamous Theranos situation, we assert that FTX resembles a Ponzi scheme. We also argue that Gary Gensler, the head of the government agency overseeing crypto, shares some responsibility for not promoting true decentralized finance and innovation. Moving on, we discuss the contrasting safety and security of decentralized finance (DeFi) compared to centralized platforms like FTX. We express our uncertainties about the future of crypto, raising the possibility of a crypto ice age and ...