The U.S. Securities and Exchange Commission has charged Sam Bankman-Fried, the former CEO of defunct crypto exchange FTX, for defrauding investors of his platform.
Braden Perry, Kennyhertz Perry partner and former CFTC senior trial lawyer, discusses the filing and what this means for the crypto industry. "These SEC charges don't move the needle when it comes to the regulation of the spot market for bitcoin."
FTX_Official bradenmperry SECGov SBF_FTX Pass
FTX_Official bradenmperry SECGov SBF_FTX Will there be a race to outlaw commingling & rehypothecation Sam brought his wallstreet tactics to crypto. This issue is crypto does not have a lender of last resort like Wallstreet does. Any regulation not outlawing commingling/rehypothecation in all markets is not serious.