US Senators Warren, Durbin Probe FTX Collapse

Warren and Durbin, both longtime, outspoken crypto skeptics, said the collapse of FTX – which, until recently, had a $32 billion valuation and was largely perceived as one of the most stable exchanges in the industry – “justify our long-standing concerns that the crypto industry ‘is built to favor scammers’ and ‘designed to reward insiders and to defraud mom-and-pop investors’.”