I disagree that the SEC is going after “scammers”. SBF had many friends in Washington, including Gary Gensler. The SEC didn’t shut down FTX; FTX shut down when it ran out of money to fund its Ponzi scheme.

The SEC worked on behalf of Lubin and Buterin to shut down their main competitor, and the SEC gave ETH a free pass because they said it was “decentralized”.

Where is the evidence that the SEC is protecting ordinary American investors? Every scam, from Madoff to FTX, seems free to run its course, while the SEC pursues Martha Stewart and Kim Kardashian.