Editorial: Cryptocurrency stars can flame out. But they can’t take their customers with them.

Samuel Bankman-Fried, founder and CEO of FTX, testifies during a Senate Committee on Agriculture, Nutrition and Forestry hearing on Capitol Hill in Washington, D.C., on Feb. 9, 2022.

Media reports are drawing comparisons to the fall of Enron Corp. or the Bernie Madoff Ponzi scheme. Everyone from police in the Bahamas to U.S. Sen. Dick Durbin, D-Ill., is demanding answers from SBF, who sentIt’s too soon to know exactly what happened, and whether criminal conduct was involved. The insolvency expert appointed to shepherd SBF’s businesses through bankruptcy says he’s never seen such a “complete failure” of corporate controls.

We believe stronger rules and greater participation from mainstream financial firms will help this promising marketplace achieve its potential, minus the shady conduct that is giving it a bad name.

Trib editors, the manipulators of their Pravda. FTX was a ponzi scheme to funnel US tax dollars given to Ukraine back to the DNC to finance their midterm advertising. However the Trib will never investigate nor will tgey print facts other than sports scores,

How much is this going to effect the traditional banking industry?

Flame out? FTX was a straight grift.

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