While SEC chief Gary Gensler claimed there are “parallels” between FTX and Binance, the community is left wondering: Why hasn’t FTX been sued?
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offered a different perspective. Speaking to Cointelegraph, he explained that before FTX crypto was not seen as a major threat to U.S. financial stability.“It wasn’t a priority to fix or stop the crypto rails initially,” said Thielen. “People realized that after FTX, it’s really billions of dollars.”
Thielen also believes there’s a notion of “embarrassment” for those that did not foresee the issues at FTX, including lawmakers.“You can make an argument that those people feel a little bit embarrassed and therefore they have to work double hard to really distance themselves from it.” It should be noted that while the SEC has not announced a lawsuit against the FTX exchange itself, the regulator has laid charges against its founders and former executives.and former FTX director of engineering Nishad Singh.
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