A certain Bloomberg article caught my eye this evening as btc finally busted through $6k. The topic: eradicating bad actors from crypto.
“The biggest cryptocurrency traders are calling time on the horde of con artists & criminals that have flocked to their largely unregulated market.
Firms including DRW Holdings Inc.’s Cumberland crypto unit, Mike Novogratz’s Galaxy Digital Holdings and Ripple discussed creating a blacklist of counterparties known to renege on trades or engage in nefarious activities.
Said Darius Sit, a Singapore-based managing partner at crypto trading firm QCP Capital: “A self-governance initiative like this is something that regulators are keen to see.’’”
If you’ve spent any time in the crypto space, you’ve almost assuredly been ripped off by someone. I’d love to call it a badge of honor, but this is serious stuff and I don’t take it lightly, either.
As Mike Novogratz said in an interview today, scams hurt the entire ecosystem.
Women & men of honor, of which fortunately there are many, are banding together to work hand in hand with regulators to root out evil misdeeds.
This movement is well-funded, capable, litigious, and adept at tech.
Crypto maturation is a chore and inconvenience. But the good gals and guys will come out on top.