On one side: Democrats (some, not all) say SBF’s misdeeds are a function of crypto, highlighting its supposed laxness and irresponsibility. How else do you explain the rise of a hugely rich and powerful man-child? “The collapse of one of the largest crypto platforms shows how much of the industry appears to be smoke and mirrors,” Sen. Elizabeth Warren (D–Mass.), a longtime crypto critic and standard bearer for this wing, has said. On the other side is the idea that SBF is an old-fashioned fraud, the sort seen many times before – and, therefore, not a function of crypto. “Sam Bankman-Fraud and his colleagues are as old as finance. This is about centralization. They controlled everything,” Rep. Tom Emmer (R-Minn.), the new House Majority Whip and firm crypto champion, tells CryptoX’s Jeff Wilser in an interview for “Policy Week” today.
‘We Haven’t Seen Anything Yet’: Introducing CoinDesk’s ‘Policy Week’
