WTH Happened with FTX? with Tonya Evans
Last year's Super Bowl featured a who's who of celebrities hawking cryptocurrency and crypto platforms like FTX. In retrospect that looks like the boom before the bust. This year, crypto prices have tumbled and one of the most valued exchanges, FTX, collapsed in a cloud of alleged fraud and federal indictments. So is it all a scam? A pyramid scheme? Will crypto endure? Our guest this week thinks it will, but says accused fraudster Sam Bankman-Fried has shown the world just how risky the market can be for new users. It remains unclear if FTX customers will ever get their money back or if crypto can ever be seen more broadly as a trustworthy store of value. Tonya Evans is a tenured full professor at Penn State Dickinson Law School whose work focuses on the legal, regulatory, policy and economic justice implications of new technologies and innovation. She also hosts a weekly podcast called “Tech Intersect,” all about the intersection of law, business and tech. Evans joins WITHpod to discuss why, in her view, the collapse of FTX isn’t a crypto problem, rather a fraud problem, what the future of regulation in the space could look like and more.