Warren and Durbin, both longtime, outspoken crypto skeptics, said the collapse of FTX – which, until recently, had a $32 billion valuation and was largely perceived as one of the most stable exchanges in the industry – “justify our long-standing concerns that the crypto industry ‘is built to favor scammers’ and ‘designed to reward insiders and to defraud mom-and-pop investors’.”
Source: https://www.coindesk.com/policy/2022/11/17/us-senators-warren-durbin-probe-ftx-collapse/?utm_medium=referral&utm_source=rss&utm_campaign=headlines