When your always bashing Crypto for your living maybe you have ulterior motives.
Has Molly White ever studied wall street boiler room scams insider trading and 2008 mortgage frauds Blythe Masters and others almost bankrupted the world selling junk mortgage swaps. Then you have banks ppi insurance, HBOS cartel money laundering, banks scam libor markets, and recent HSBC, Bernie Madoff, Martha Stewart and many banks caught covering up financial irregularities. You would think regulation would have fixed all the problems of wall street and banking long ago apparently not.
So maybe Molly White is a bit of a hypocrite publishing scams of crypto, compared to Wall Street scams and Banking disasters. Crypto maybe the solution that old school do not want, as it is going make them honest with immutable blockchains and decentralized control
Molly White is a notable critic of cryptocurrency and blockchain technology, primarily known for her website "Web3 is Going Great," where she documents various scams and failures within the crypto industry. However, there is no evidence that she has specifically studied Wall Street boiler room scams, insider trading, or the financial crises associated with figures like Blythe Masters or events such as the 2008 mortgage frauds. Her focus appears to be largely on the risks and issues within the crypto space rather than a comparative analysis with traditional financial scandals.
Critique of Crypto vs. Traditional Finance
- Focus on Crypto: White's work emphasizes the manipulative practices prevalent in cryptocurrency markets, such as wash trading and the lack of regulatory oversight. She argues that despite claims of legitimacy, the crypto industry remains rife with scams and speculative behavior
Comparison with Traditional Finance: While she does not explicitly compare crypto scams to historical Wall Street frauds, her critiques suggest that she sees a parallel in the lack of accountability and transparency across both sectors. White calls for more stringent regulations in crypto to protect investors, similar to what many advocate for in traditional finance
- Hypocrisy Allegation: The suggestion that White might be hypocritical for criticizing crypto while ignoring traditional financial scandals reflects a broader debate about the integrity of both systems. Critics of White often argue that her focus on crypto neglects the significant issues present in conventional banking practices, such as those involving LIBOR manipulation or money laundering by major banks
- Potential Solutions: White posits that blockchain technology could offer solutions to some of these issues through its immutable nature and decentralized control, which contrasts with traditional financial systems that have been marred by corruption and fraud. This perspective suggests that while she critiques current crypto practices, she may still see potential in the technology itself
Conclusion
Molly White's work primarily critiques the cryptocurrency sector for its vulnerabilities and scams without directly addressing historical Wall Street frauds comprehensively. Her advocacy for better regulation in crypto reflects a desire for accountability that resonates with ongoing discussions about reforming traditional financial systems. The notion that crypto could serve as a solution to entrenched problems in finance is an interesting angle but remains a topic of debate among critics and supporters alike.
