There is a palpable feeling of relief in the cryptocurrency industry. Evangelists are preaching the good news that the industry has been purged of the Sam Bankman-Frieds, the Alex Mashinskys, the Do Kwons and the Changpeng Zhaos of the world. They proclaim that crypto can finally ascend from its purgatorial, “wild west” days to become a respectable sector of the financial world blessed by regulators and speculators alike.
That exultant attitude has contributed to surging cryptocurrency prices, which surpassed previous all-time highs in the weeks leading up to Bankman-Fried’s sentencing of 25 years in prison on Thursday.
