The thing that annoys me the most regarding the FTX collapse is that MSM is trying to blame crypto for this event too! This is obviously bad management as you have pointed out and it could happen in any other "niche", but unfortunately, it happened to a "crypto-based" company... Regulations are probably needed, especially for centralized entities as decentralized exchanges and projects are almost always audited and checked by many firms and individuals... And they are transparent and not hiding behind dozens of companies...
Also, it's crazy to see people who were running FTX and Alameda... I can't believe that so many people trusted their money to them... And of course, I have no doubts that they will not be accused or prosecuted at all, with all those family and buddy connections in high places... 😤
I have picked this post on behalf of the @OurPick project which will be highlighted in the next post!
I know it is absolutely crazy to see how they behaved and managed to pull off such a thing. Interesting how willing the industry is to support those with little to know experience or integrity