Cryptocurrency

Sen. Mark Warner, the tech millionaire who has become one of the loudest voices in Congress calling for stricter regulation of the industry, shows no signs of letting up.

The meteoric rise and fall of FTX founder Sam Bankman-Fried will likely be followed by a lengthy journey through the criminal justice system — with a potentially serious sentencing if SBF is convicted.

Cryptocurrency has existed for over a decade, and Washington remains at a loss over how to regulate the industry, which at its peak last year was valued at $3 trillion.

The sudden and stunning collapse of FTX last month has potentially put Sam Bankman-Fried, the founder of the Bahamas-based cryptocurrency exchange, in legal jeopardy proportional to the historic scale of his company’s crash.

Matt's old defense of the FTX cofounder is this week’s “bad take.” Matt agrees now that SBF is bad, but Matt still thinks the technical crux of his point stands. Laura is partly swayed.