As opposed to the ponzi schemes & fraud that other 'non crypto' financial institutions practice on a daily basis?
Like I get the concern, but it is quite amusing how you think 'oh these crypto ponzi schemes' when banks & financial institutions have been fined to the tune of trillions of dollars because of their illegal practices.
The issue with FTX is it was run by scam artists who from day 1 were in it to defraud their customers. It was then propped up by all kinds of idiots like Tom Brady & Kevin 'only place I know I'm safe is at FTX' O' Leary, along with countless other government officials and who knows who else. This is no different than Enron, Theranos and countless other companies who basically ran ponzi schemes to steal from their customers.
At the same time there are legit Crypto Exchanges who process million and perhaps billions in crypto transactions each day, and they have been doing so without issue for a long time.
To me what FTX is just crony capitalism, and I think as the story is further exposed we'll learn just how deep in many high ranking public figures and government officials were caught up in manipulating everything to their favor.
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