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This is precisely why the outrage is so apoplectic. A threat to the establishment monopoly on a class of scams 😆 If it were a unique/weird crypto scam they’d laugh it off. The threat is that it rhymes uncomfortably precisely with establishment criminality they’re complicit in.
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2/ the #FTX set up of exchange+ hedge fund mirrored the exact problems of prop trading that played such a large role in the global financial crisis, in other words, not at all specific to #crypto
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I’m mildly pleased we’ve achieved parity in at least one business sector. Our investment scams are now as good as your scams.
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Maybe an underexplored view is maybe he lobbied for much more regulation due to the fact that he knew he was doing bad things and quickly wanted to gain some form of insurance, and also tried to fund policitians to help absolve some future charges.