You can go into regulated instruments with little research because they’re regulated.

I had friends in Luna. We all told them over and over it was a scam. They could not listen. “Dock your stuff at terra station, 20%, how are you not in crypto, look at my account size, here are ten explainer videos showing complex gamified mechanics for why I’m a savvy insider” etc

I agree regulators dropped the ball, but also at some point people really are almost willfully blind to downsides. We even had the example of Iron and Titan which collapsed similar to Luna and UST.