On one aspect: Democrats (some, not all) say SBF’s misdeeds are a operate of crypto, highlighting its supposed laxness and irresponsibility. How else do you clarify the rise of a massively wealthy and highly effective man-child? “The collapse of one of many largest crypto platforms exhibits how a lot of the business seems to be smoke and mirrors,” Sen. Elizabeth Warren (D–Mass.), a longtime crypto critic and customary bearer for this wing, has stated. On the opposite aspect is the concept that SBF is an old school fraud, the kind seen many instances earlier than – and, subsequently, not a operate of crypto. “Sam Bankman-Fraud and his colleagues are as previous as finance. That is about centralization. They managed all the pieces,” Rep. Tom Emmer (R-Minn.), the brand new Home Majority Whip and agency crypto champion, tells CoinDesk’s Jeff Wilser in an interview for “Coverage Week” at present.
