I wrote the other day about being happy that I chose to use Coinbase as an entry point into buying cryptocurrencies. I know there are other exchanges that appear to be safe as well, but I felt that was a good one due to it being public and having had dealt with the SEC. I appreciate the feedback from others about some of it's limitations.  Like everything, not everything is good about it.

Now, I have been thinking a lot about what happened with FTX and the fraudster Sam Bankman-Fried.  If this were a regulated business, I believe he would have already been criminally charged, or it would be in the works.  As I was writing this, it appears he may be sued in the state of New York https://coingape.com/sam-bankman-fried-criminal-charges-for-fraud-ftx/ with possible criminal charges by the end of the year.  

I do not know the man personally, but SBF is a fraud. He admits it here: https://finance.yahoo.com/news/fallen-crypto-billionaire-admits-persona-014225429.html

As I have been learning about cryptocurrency, I am believing in it more and more. The major problem I seem to find over and over again is the public presentation of cryptocurrency as being something for the masses, an alternative to the "bad" fiat system.  The problem is, much of the crypto world is predatory, ie FTX. I even read today about Algorand, one that I like that reports large holders of Aldorand own 99.7% of the total supply. https://dailyhodl.com/2022/11/15/one-of-ethereums-top-rivals-showing-several-concerning-signs-according-to-top-crypto-analyst/ If that is true, I need to get out immediately. One dump by a major owner and the price tanks. That would not be fun.  

Mr. SBF, Sam Bankman-Fried or Sam Bankman-Fraud is not the problem in cryptocurrency, he just makes the problems brighter. With this, I do think cryptocurrency survives and then thrives as it drives out the criminals.