There was also a lot of fraud and mismanagement. People's crypto vanished and no one at the exchange was able to reconstruct how because there was no sufficient

There was also a lot of fraud and mismanagement. People's crypto vanished and no one at the exchange was able to reconstruct how because there was no sufficient security and no real bookkeeping. There is a lot of regulatory capture in the financia sector, but that does not in imply that no regulation is necessary at all