Crypto is full of use cases and is not mostly scams. It can be very valuable insurance against authoritarianism. However, everything about the crypto economy is worse than the regular economy.

The U.S. Department of Justice is investigating Binance for possible money laundering and criminal sanctions violations. Some DOJ prosecutors believe there is enough evidence to file charges against Binance executives, including CEO Changpeng Zhao, while others argue that more evidence is needed. If the investigation goes against Binance, it could have major implications for the cryptocurrency industry.

Sam Bankman-Fried, the ex-CEO of bankrupt crypto trading firm FTX, was arrested in the Bahamas after the U.S. Attorney for the Southern District of New York shared a sealed indictment with the Bahamian government. His arrest is the first concrete move by regulators to hold individuals accountable for the multibillion-dollar implosion of FTX last month. If the federal government pursues wire or bank fraud charges, Bankman-Fried could face

The article discusses the findings of a study on the demographics of crypto users and their investment behavior. The study found that most crypto users made their first transactions during spikes in prices, and that usage is more common among men, younger individuals, and those with higher incomes. The study also found that most investors in crypto have only small holdings, but some have taken on significant financial risk.

The SEC has charged Samuel Bankman-Fried with orchestrating a scheme to defraud equity investors in FTX Trading Ltd. (FTX), the crypto trading platform of which he was the CEO and co-founder. The SEC alleges that Bankman-Fried promoted FTX as a safe, responsible crypto asset trading platform, while concealing his diversion of FTX customers' funds to his own private hedge fund, Alameda Research LLC.