SBF was the second biggest individual donor to Biden's election campaign, and he donated 8 times as much in the 2022 midterms to democrats. Newspapers close to

SBF was the second biggest individual donor to Biden's election campaign, and he donated 8 times as much in the 2022 midterms to democrats. Newspapers close to democrats have made very positive pieces about him and his scam. Now after the collapse, the government is still after him. He will probably meet the fate of most upper class blue collar criminals, with low security prison for a low single digit number of years. The political class protects you if you bribe them, and you can get really rich thanks to such cooperations. They will defend your shady real estate deal, your NIMBY-ism, your neo feudal constitutional amendments from 1978, or pro-corporate legislation. But this has limits, e.g. when you appear in newspapers as someone who has scammed tens of thousands. I do think however that a thing such as "good" (in the sense of quality, not in the sense of impact on the world) elite capture exists, even for crypto currencies. Ultimately we might end up with one or two private crypto currencies that have managed to bribe the elites of the gun owning apparatus well, and then that apparatus will use the guns to eliminate the crypto currencies that didn't manage to do such elite capture. We might end up with privatized, state sanctioned currencies, just as large parts of the banking system are private, or how certain parts of the elite got first row access to massive Fed loans while the masses had nothing. In the end, elite captured crypto currencies will just be the people with guns deciding to use a different mechanism to distribute the goods the guns are protecting, instead of being the innovation the pro-crypto people have been dreaming about that deprecates the need for people with guns.