U.S. Congressman Tom Emmer said FTX’s collapse was not a crypto failure; instead, it was a failure of centralized finance (CeFi), Sam Bankman-Fried, and SEC’s Chairman Gary Gensler in a Nov. 22 Fox Business interview.

Emmer said FTX’s collapse was also a failure of business ethics, government oversight, and regulatory oversight.

(By Oluwapelumi Adejumo)