Commentary: We should celebrate, not bemoan, the swift collapse of FTX

Published by
Tribune News Service

If indeed all the reports are true— that the cryptocurrency exchange FTX lent out billions of dollars in customer deposits for risky bets without their consent — then the world should celebrate its swift demise. Markets are ruthless in rewarding success and punishing failure. And FTX’s fall from grace over just a few short days shows the market’s remarkable ability to deliver economic justice. This is by far the most effective means of raising awareness among investors and customers, and of ensuring long-term viability of the cryptocurrency economy, far more than any government regulation coul…

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