The bankruptcy of FTX, once a giant in the cryptocurrency market, not only shook financial structures, but also incited a heated debate about the need for greater regulation and supervision in this digital space.
Dennis Kelleher, CEO of Better Markets, has vocalized a strong stance in suggesting that FTX executives face harsh penalties, including life in prison and exclusion from financial markets. This opinion is echoed in an interview with Bloomberg, where Kelleher minced no words in describing the crypto industry as a “lawless” territory, devoid of any legitimate utility.
The conviction of Sam Bankman-Fried, co-founder of FTX, for money laundering and fraud, culminated in a 25-year sentence, determined by Judge Lewis A. Kaplan. This sentence generated wide repercussions, especially considering that Bankman-Fried, at 32 years old, almost faced a much more severe sentence, up to 110 years. His association with the downfall of FTX, once valued at over $30 billion, underscores the magnitude of his fall from the corporate pedestal.
In parallel, Gary Gensler, chairman of the SEC (United States Securities and Exchange Commission), shares the view that the cryptocurrency sector would benefit from more transparency and regulation. Gensler criticized the tendency of crypto projects to limit the information available to investors, arguing that greater disclosure would drive more stable and reliable investments.
The essence of these discussions points to an emerging consensus: the need to implement robust governance and regulatory structures in the cryptocurrency space. This guideline not only aims to protect investors, but also to stabilize and legitimize a sector often marked by its volatile and sometimes obscure nature.
The implications of these influential voices cannot be underestimated. They signal a decisive moment for the future of cryptocurrencies, where the scales of justice and order may finally tip in favor of more transparent and regulated operation. While the debate over the extent and methods of regulation continues, one thing is clear: the era of impunity for shady operations in the crypto space may be coming to an end.
Disclaimer:
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing in or trading cryptocurrencies carries a risk of financial loss.
Source: https://portalcripto.com.br/ceo-da-better-markets-exige-prisao-perpetua-para-executivos-da-ftx/
