[darawk]

This is a nice story but it's just not true. The amount of leverage built up in the derivatives market on Binance is completely transparent. The trading shops named in the CFTC suit are very unlikely to blow themselves up in anything remotely resembling the way 2008 unfolded, and the CFTC regulations are not designed to catch anything important that might realistically be going on under the surface here.

The point of this CFTC lawsuit is to attack crypto, no more, no less. If you don't like crypto, you may think that's a good thing, but I'd argue that it's always a bad thing when regulators leverage technicalities to achieve political ends. And make no mistake, that is exactly what is happening here.