The world of cryptocurrency is infamously unregulated, but what happens when a major crypto exchange crashes, uprooting almost the entire crypto ecosystem, and there’s no regulatory body in charge? You have the FTX crash of 2022. And it’s hard to ignore the elephant in the room: why don’t we have a regulation framework for crypto? It seems like an obvious solution, but as The Verge’s Liz Lopatto (@mslopatto) and financial regulation expert Yesha Yadav explain, it’s not as simple as it sounds. References: Sam Bankman-Fried tries to explain himself The collapse of FTX and Sam Bankman-Fried’s shocking downfall How FTX played both parties and almost won Washington Man who cleaned up Enron says FTX is worse Binance to sell rest of FTX token holdings as Alameda CEO defends firm's financial condition Hosts: Jonquilyn Hill (@jonquilynhill) Credits: Sofi LaLonde, producer Patrick Boyd, engineer Libby Nelson, editorial adviser A.M. Hall, deputy editorial director of talk podcasts Want to support The Weeds? Please consider making a donation to Vox: bit.ly/givepodcasts Learn more about your ad choices. Visit podcastchoices.com/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.

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