And that’s why banks are heavily regulated and get protections. If FTX wanted protections against a bank run they could also choose to be regulated as a bank.

And that’s why banks are heavily regulated and get protections. If FTX wanted protections against a bank run they could also choose to be regulated as a bank. Cryptocons want us to both treat crypto scams as banks and not banks depending on what suits them in the moment, just like they want us to treat cryptocurrencies as assets or currencies based on what suits their argument in the moment. All to hide the fact that it’s a mediocre technology which has been surpassed by many other technologies for most of its possible uses and is nothing more than a Ponzi scheme designed to enrich its original backers.