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I think all these failures point to why regulation exists in the traditional financial system. The information imbalance in a free market is sufficiently large
by AlexandrB 4y ago
I think all these failures point to why regulation exists in the traditional financial system. The information imbalance in a free market is sufficiently large that even large actors that "should know better" can be fooled for years.
- MacsHeadroom 4y agoThese failures point to why trustless public ledgers (blockchains) were invented. Exchanges that run on them (DEXes like Uniswap, Bisq, ShapeShift, etc.) are completely transparent, providing no room for the kind of information asymmetry which is required for frauds like FTX.