The collapse of cryptocurrency exchange FTX has been widely talked about and dissected intricately in recent weeks. The private wealth sector was already fairly sceptical of crypto assets, but some firms were beginning to dip their toes into the crypto waters. Has the FTX collapse halted this movement?

For crypto supporters, the FTX scandal is frustrating. A bad actor – or team of bad actors – has led to a pile on against the crypto industry and has led to more scientism a...