Barry Silbert and the Cost of Bitcoin’s Malfeasance Culture
The Bitcoin ETF didn’t pass this month and it hurt us and many others who were long Bitcoin and have been long time hodlers. The SEC ruling was a stern rebuke of Bitcoin’s backroom dealing, unsavoury culture. This article exists to list how bad Bitcoin compliance, fiduciary, and ethical culture has gotten, and why we need to police ourselves better lest we risk having harsh regulation foisted on us by the FSA or the SEC or other financial regulatory bodies. If we don’t do better and now, we will all lose money in the long run and some of us will go to jail or be sanctioned.