Regulate Crypto or It'll Take Down the Economy - Warren WSJ op-ed

[question everything]

The dramatic collapse of Sam Bankman-Fried’s crypto exchange, FTX, may have come as a shock to the Miami Heat, Tom Brady, Twitter bots and financial-news talking heads. But crypto is following a well-worn path of financial innovations, such as subprime mortgages and credit-default swaps, that began with dazzling rewards and ended with crippling losses.

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https://www.wsj.com/articles/regulate-crypto-or-itll-take-down-the-economy-fraud-reporting-know-your-customer-loophole-energy-disclosure-ftx-bankman-fried-ftx-11669123750 (subscription)

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I don't know the first thing about this topic to even select the most relevant paragraphs, so perhaps someone can post the archive story