[wumpus]

Remember the Wirecard collapse, where there was a fake bank account in the Phillipines that allegedly had $2.1 billion USD in it?

This is the crypto equivalent.

[odiroot]

I wonder if (some of) SEC will play the same role in this story as BaFin played in Wirecard's.

[wyclif]

Yes, it was actually two accounts: BDO Unibank and Bank of the Philippine Islands.

[everybodyknows]

Has there been any attempt at reform of BaFin in the aftermath -- or has bureaucratic inertia absorbed all such impulses?

[_fat_santa]

The hole in Wirecard's balance sheet almost doesn't seem that bad when you see what kind of hole FTX has.

[KirillPanov]

Garnished with a dash of Bernie Madoff.