What’s important to consider here is the fact that FTX.com was an unregulated exchange. What was going on behind the scenes was unknown. This allowed the exchange to lend out customer funds, which only banks are allowed to do in the U.S. The industry term for this is, leveraging liquidity.
There’s controversy within the Cosmos and 3 new governance proposals to vote on. We at Blocks United have voted in favor of ATOM 2.0, which is Cosmos proposal 82. We have voted no on proposals 81 and 83, which were meant to oppose ATOM 2.0 by Cosmos co-founder and former team member, Jae Kwon.