The End of Wildcat Exchanges
The digital asset industry has often been likened to the Wild West (SEC Chair Gensler sure sees it that way) and it’s easy to understand why. In the euphoria of a booming bull market, investors engage in rampant speculation hoping to strike gold on the next token, platform offering too-good-to-be-true interest rates, protocol, or asset class. Social media influencers peddle altcoins to their millions of followers and the frothy markets hide the massive cracks in the foundation of the entire system. Empires are built only to collapse under their own weight after the top is in.