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I imagine the ability of those in crypto, big or little, to identify or pursue criminality will remain limited. The problem hasn't been solved in traditional f
by psychlops 4y ago
I imagine the ability of those in crypto, big or little, to identify or pursue criminality will remain limited. The problem hasn't been solved in traditional finance. SBF testified in front of Congress. I have no attachment to FTX and didn't even know its name a week ago, but it seems pretty legit knowing that one fact.
As for Tether, a few moments of reflection on how a stablecoin stays stable in crypto should be enough for people to worry. I won't even go into the trust placed in exchanges. But there is evidently an endless supply of fiat that will continue to go into these scams.
Perhaps a better focus would be on pursuing negligence on the part of the founders and investors such as Sequoia and a16z. Frequently these scams are only obvious after they fail and are merely unprovable suspicions before.