Cryptocurrency: Don’t blame the medium for the scam
Published 1:07 pm Wednesday, November 23, 2022
BY THOMAS KNAPP
As cryptocurrency exchange FTX falls into bankruptcy and its principals seem likely to face various criminal charges over the activities leading to that bankruptcy, it’s time for another round of crowing from opponents (and would-be regulators) of cryptocurrency. Which means it’s time for another round of pointing out where those opponents and would-be regulators are all wet.
It’s too early in the day to even try to untangle what happened with FTX, but what SEEMS to have happened is a “Ponzi scheme.” That is, older investors in FTX and related enterprises such as trading firm Alameda Research seem to have been paid supposed…