Kevin_Cornbob comments on The FTX Future Fund team has resigned

[Kevin_Cornbob]

Here’s a quote from former US Treasury Secretary Larry Summers in a recent Bloomberg interview that backs up some of the claims in this comment:

A lot of people have compared this to Lehman. I would compare it to Enron—the smartest guys in the room, not just financial error, but certainly from the reports, whiffs of fraud. Stadium namings very early in a company’s history. Vast explosion of wealth that nobody quite understands where it comes from.

[...] I think this is probably less about the complexities of the nuances of the rules of crypto regulation and more about some very basic financial principles that go back to financial scandals that took place in ancient Rome.