reading this, it struck me how ironic crypto was built to "stop the doublespend" but here we have all these crypto exchanges doing things way worse than that.

company minting their own token and then using it as collateral, accounting it as if they had billions. the "stable coins" cannot produce basic accounting audits that a low level book-keeper could do on any normal business.

there has been so much fraud in crypto the past few years. and the algorithm did not help to stop that.