Talk about blood in the water. Washington, D.C., regulators and lawmakers have been chomping at the bit to put Silicon Valley in its place for years—and the moment they’ve been waiting for has finally arrived.
The U.S. Department of Justice and the Securities and Exchange Commission are tripping over themselves to investigate FTX CEO Sam Bankman-Fried, who is facing allegations that he essentially treated billions in customer deposits made on the crypto exchange like they were his personal Venmo account.
Even Elon Musk seems to be handing Washington a softball, showing clear disregard for Twitter’s agreement with the Federal Trade Commission over how it protects user data and openly antagonizing lawmakers such as Sen. Ed Markey on Twitter. Let’s see how that goes.
