Sam Bankman-Fried, founder of bankrupt crypto exchange FTX, is headed to trial today on multiple fraud and money laundering charges.
The real question about this trial is what happens next because if you take stock in the crypto industry today, and I think all of us should think about this. We're at the thinnest trading voles of Bitcoin in almost a decade. There's so much institutional demand but no buying potential yet because we're stymied in regulatory hell and nobody is moving forward anywhere until all of these issues are put aside as evidenced by the Gensler testimony last week and I went to the hill to listen to him. So we've got a long way to go, but the market's already baked in this trial.