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dynorphin t1_ivs3afj wrote

Should look into binance while they're at it.

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Bunnywabbit13 t1_ivsk4z9 wrote

binance isn't operating in the US though (only few exchanges are), so nothing US regulators can do about it.

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dynorphin t1_ivt3lrs wrote

Trust me, if the us government wants to shut something down they'll find a way.

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WexfordHo t1_ivrrxdg wrote

FTX right now: “Hehe, I’m in danger!”

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csguydn t1_ivub1w0 wrote

From what I read, they've known for a while. They made a bet. The market tried to pull out money. They couldn't cash flow it. Binance won't bail them out, and no way in hell the government steps in to back this.

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Steaknkidney45 t1_ivu4odr wrote

Good; I'm sick of hearing of the whiz-kid paper tiger billionaires behind it all.

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tsuke1 t1_ivsw8yi wrote

I mean why are you investigating something after it collapses? Shouldnt the scrutiny have come before?

Makes me think of the police showing up to the crime scene hours after the deed is done

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i_simp_4_tedcruz t1_ivtgnpw wrote

Hilarious. Umpires in MLB start wearing ads like NASCAR cars. Turns out like this

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nova9001 t1_ivs9zgb wrote

Crypto the future where its decentralized asset. I mean wtf is crypto for now?

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pacific_beach t1_ivrs9i5 wrote

Just shut the SEC down and start over. They aren't protecting anyone.

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SoflaSF t1_ivrwxr7 wrote

you wouldn't believe the number of ponzi schemers there are in america - SEC does as a majority suck but it's a necessary evil that occasionally helps

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frizzykid t1_ivt5ece wrote

FTX falling because of liquidity issues and costing investors 10's of billions of dollars is a prime example of why the SEC exists to protect people. SEC isn't perfect and I'm sure there are many retail investors out there that hold a similar point of view, but FTX's collapse is quite literally a result of a lack of regulation to protect investors.

FTX would almost certainly be fine right now if they were regulated by the SEC which would have mandated they had adequate liquidity and could have prevented the "Bank run" that essentially happened.

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