It's not a legitimate criticism at all in this case. It's a low-effort hot take by someone who doesn't understand what actually happend and just wants to take a

It's not a legitimate criticism at all in this case. It's a low-effort hot take by someone who doesn't understand what actually happend and just wants to take a potshot at crypto. There's plenty of things to criticise about crypto, FTX, alameda, etc, but the fact that to do leveraged finance you have to post collateral with counterparties meaning those counterparties can freeze those assets isn't an inditement of crypto. The exact some thing happens in conventional finance eg search for all the hedge funds who had prime brokerage funds trapped when Bear Stearns collapsed and had to wait years to get their money back - and that's without any fraud involved.