Crypto industry was 'judge, jury and executioner' for FTX: Pompliano

Crypto investor and Bitcoin bull said that in crypto, market forces tend to weed out bad people as quickly as bad companies.

Prolific podcaster and cryptocurrency investor Anthony Pompliano has not lost faith in people or the crypto industry despite the disappointing conduct of former FTX CEO Sam Bankman-Fried.< /p>

Bankman-Fried, once widely regarded as the "white knight" of crypto, is now an outcast in the crypto industry due to - by his own admission - "reckless" mismanagement of client funds FTX and its continued strange behavior on Twitter.< /p>

Appearing Nov. 17 at the Texas Blockchain Summit, Pompliano was asked about ensuring high-quality representation “in the halls of power,” responding that market forces weed out bad people as quickly as bad people. companies:

“It might be a bit counterintuitive, but the free market is a fucking arbiter. If you look at what just happened, it was this industry that held the industry accountable. […] CZ is the one who used market forces to bring down this company [FTX],” he said.

"In the end, judge, jury and executioner were the free market and the industry itself."

Pompliano continued, "Good people, they survive, bad people, they eventually get swept away."

Always have fun visiting the great state of Texas, where citizens understand the importance of private property, personal defense and economic freedom pic.twitter. com/5POeuSDuex

Speaking on CNBC on Nov. 15, Pompliano said, "I think there's...