2 posts tagged with "Crypto"

FTX is gone. Filed for bankruptcy on November 11, and within days the picture went from bad to catastrophic. Roughly $8 billion in client funds, not lost to a market crash or a hack, but moved. Transferred to Alameda Research, a trading firm also run by Sam Bankman-Fried, and spent on trades, investments, and who knows what else.

I had what felt like a straightforward question. What are the actual rules around crypto?

Even after spending real time on this, I don't have a clean picture. Multiple agencies have authority over different pieces, the federal framework is still being developed, and the right thing to do is acknowledge that and think out loud about what I can see from where I sit.