Weekly Roundup 11/10/22 (FTX fiasco, Su Zhu and Do attempt comebacks, Proof of Reserves redemption) (EP.370)
On The Brink with Castle Island
Crypto Is a Scam. It Couldn't Be More Scammed
There's one take that I'm starting to see in the popular press that just around, hey, crypto is a scam. It couldn't be further from the truth, guys. These guys were an unregulated offshore entity that got started in Hong Kong and then moved to the Bahamas. There are entities here that are playing by the rules. They've been playing with one hand stuck behind their back competing against an unlicensed offshore venue. No one in the US regulatory apparatus has done anything about it. We've looked at all of these off shore unregulated exchanges and really questioned how much longer can they continue? FTX issued an unregistered securities offering in the form of FTT. Meanwhile, Coinbase is
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