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I think that the gov would like their own version of crypto, or to have the same sort of influence. China now has their own type of cryptocurrency, and it can be instantly debited by the government. This also interacts with the social credit score.

*posts Ukrainian flag*

FTX has probably opened the door wide for government regulation. Like Enron and the 2008 mortgage crisis, government beaurucrats now have their reason to jump in and bring it under their control.

DXing wrote:FTX has probably opened the door wide for government regulation. Like Enron and the 2008 mortgage crisis, government beaurucrats now have their reason to jump in and bring it under their control.

There have been several "rug pulls" over the past couple of years (I lost a couple of thousand $$$ on Luna), if that and all their unanswered questions about XRP didn't do it, I doubt FTX will.

FWIW, the WEF and all its ilk are slobbering to get CBDC so they can further control the populace.

This has been pretty quiet.

NY Fed launches 12-week CBDC pilot program with major banks

Banking giants including BNY Mellon, Citi, U.S. Bank and Wells Fargo will be issuing tokens and settling transactions through simulated central bank reserves as part of the pilot.

Queso wrote:There have been several "rug pulls" over the past couple of years (I lost a couple of thousand $$$ on Luna), if that and all their unanswered questions about XRP didn't do it, I doubt FTX will.

Big difference. Luna collapsed because the investors themselves lost confidence in the currency. That can happen to any regularly traded stock.

XRP went under because of an actual suit brought by the U.S. Securities and Exchange Commission for supposedly violating SEC rules about selling unregistered securities, which is allegedly the way XRP executives marketed their cryptocurrency.

Neither of those made the media splash that FTX did because one was initiated by the customers, the other is a technical violation that most people don't understand. FTX is something that most people can understand. A group of individuals took investors for a ride using their money to finance the "executives" (I use that term loosely) lavish lifestyles. What will drive the regulation bus will be the fact that they made several high-profile politicians and media stars look really bad in the process.