There are no clean hands here. Binance does sketchy things that screw over their customers. FTX apparently does too (although anyone else have their referral in

There are no clean hands here. Binance does sketchy things that screw over their customers. FTX apparently does too (although anyone else have their referral income dry up suddenly in July-ish?). This happens because it's blatantly clear that the tech is moving quicker than the legislature by years and the only 'tool' they can wield is punitive, with arguments designed via circular logic that would only justify more regulation, but have no clue what and how to regulate in a manner that actually protects consumers and minimize potential side-effects that may last for decades - because it's likely impossible thanks to congressional ignorance and the narrow mandates of executive branch agencies largely focused on punitive measures uber alles. This might have gotten a bit personal, but effectively this is a lobbyist fight. Whoever wins, we lose. Keep your crypto in self-custody and remember that what the state and those with billions to spend on gaining influence are ultimately corseted by the myopia that comes with power. There are people who use crypto everyday now - I am one of them - and maybe the preoccupation over schoolyard slights and performative regulatory capture will simply result in more and more people moving crypto off the CEXes.