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Crypto space is seriously unfair for the average Joes out there

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by COINS NEWS 93 Views

It really strikes me as odd. Most of us view crypto as a legit investment to make money. However, I think the space and the way the things are handled is unfair. Many scams have been coming out, exchanges collapsing, rugpulls, etc. Majority of the bad actors didnt get punished, probably because of their connections. Im fully aware that connections with powerful people can net you a lot, but for a space that is supposed to be decentralized it is just unfair.

Logan Paul - most famous scam "Cryptozoo" - openly plotted to rug the people with his team while also avoiding SEC. Millions of dollars lost, no plan to return anything whatsoever even though he is "working on it".

Consequences: None.

Jake Paul - promoting scam NFTs without the "#ad" while playing as hes legit investor. Millions of dollars lost as well.

Consequences: 400k dollars fine, which is arguably nothing for the money he scammed and the way he did.

Sam Bankman-Fried - the CEO of a collapsed exchange FTX which was using customer funds to gamble their trades while claiming all the funds were safe. Billions lost. Customers likely to get back only a fraction of what they originally had.

Consequences: Maybe a jail time, however, he was given luxuries that no average Joe would have. A laptop and much more. This is after considering the fact that he tried to flee the country, withdraw the funds that were under investigation, witness tampering, etc. He is one of the biggest donors to political parties in US, so he will probably get away light.

There are many more scams going on with the owners getting no or very light punishment, but I dont want to drag it too much so I listed some of the more popular ones. Do you guys think any of this is fair? Are the bad actors getting away with what they did because they have connections and money good for crypto? Let me know your thoughts.

submitted by /u/ivanowastaken
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