So many of the biggest fraudsters in crypto came from tradfi and their scams were discovered because they picked the one asset class where being unable to process withdrawals implies a 100% chance of fraud. It makes you wonder how much fraud occurs in tradfi but it goes undiscovered because nobody can self-custody their paper metals or paper stocks.
You can't invest in unregulated FTX and then whine when they went and lost all your money -- (not ai emdash) because it was -- wait for it -- UNREGULATED!
Also, unrelated minor pet peeve, but what's the deal with the "not ai emdash"? You can just use dash or comma, you know.
I thought "Code is Law". So now crypto bros want to fight this out in TradLaw just like the TradFi institutions do?
Better not mention the FinCEN files either. [0] Where over $100B to $2TN dollars worth of illicit transations from criminals and fraudsters were knowingly allowed by banks and even ponzi schemes were freely allowed as well [1].
[0] https://www.icij.org/investigations/fincen-files/global-bank...