This isn't about Mark Cuban's losses per se, I also have no issue with him (an accredited investor) getting bilked for some change between the couch cushions - the issue is even if an incredibly sophisticated investor like Mark could fall for such a rug-pull/failure then how can we possibly expect unsophisticated investors not to get bamboozled? Remember, those who wash out of trading end up beneficiaries of the state bankruptcy and welfare programs, so the state very much has an interest in this.

Crypto now is like trading stocks was before and leading up to the great depression: a bunch of hucksters, shills, snake-oil salesmen and unrestricted margin. And a few well-intentioned people. Before the Securities Act, the Securities Exchange Act, Regulation T and the SEC.

The great finance speed-run has reached mid-1929.

[edit] Seriously if the Fed has to cough up $60 billion dollars to bail out Tether, I'm going to be incredibly pissed off.