Second, is crypto’s regulatory future in jeopardy? FTX, after all, was one of only a handful of U.S. crypto firms that had invested heavily in lobbying, and Mr. Bankman-Fried was seen as a “white knight” who stood the best chance of persuading skeptical lawmakers of crypto’s value. Now, it appears that those efforts have stalled, at best — and that regulators who want to portray crypto as an out-of-control Wild West will have one more example to point to. Katherine Wu, a crypto investor, tweeted on Tuesday that it was a “truly sickening news day- can’t even begin to assess the potential damage our industry will have to face.”Third, will FTX’s collapse set off a broader market failure, as the collapse of Lehman Brothers …
