I think a wire fraud/bank fraud charge is on the table for people who give in to the temptation. We only need one case to be successful for the precedent to be

I think a wire fraud/bank fraud charge is on the table for people who give in to the temptation. We only need one case to be successful for the precedent to be set that you cannot fraudulently issue unbacked stable coins for there to be a sufficient deterrent effect. It seems that with the FTX bankruptcy, SDNY is looking to set that precedence now.