FDX Founder Sam Manma Fried - What Happened to BNY Mellon?

The SEC and other regulators have largely been whispering to the rest of the financial industry. What happens as the SEC brings down a stronger arm on the industry, do traditional players start to get a little spooked? And to take it full circle back to why the SEC is so rankled about crypto and why, in many ways, people are saying that acting with hindsight is because of what happened with FDX.