Financial innovation is a tricky one because the problems it solves only appears after that initial mass speculation happens and that first fraud happens. FTX was something started three years ago by essentially a guy living in the Bahamas. It's completely unregulated. And while they claim to have done significant due diligence, I can't see how that's possible. The person who's taken over now to lead the bankruptcy process, I forget his name, but he's done this for Enron.

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