Sam Bankman-Fried has been arrested. That hasn’t happened to financial hall-of-shamers that are more mainstream. The decentralised nature of crypto makes isolating people easier, says AntonyMCurrie
into the ground in 2011, a congressional report found. And executives from Lehman Brothers to Bear Stearns to mortgage lender Countrywide Financial were all tainted by the actions that laid their banks low in the financial crisis.
Part of the issue is that ineptitude and hubris by themselves aren’t against the law. Large, complex institutions, though, can also make it harder to trace precisely who did and said anything illegal, even in a relatively forensic investigation like the one Valukas undertook. Sometimes, as with the financial crisis, the system is to blame too. Whether prosecutors pick the right targets, or are successful in court, is another matter. But recent history shows that running a systemically risky financial institution increases your chances of avoiding the slammer.Sam Bankman-Fried, the former chief executive of now-bankrupt crypto firm FTX, was arrested in the Bahamas on Dec. 12.
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