Crypto cons are frequent, and the sector’s loudest and most well-known leaders have faced substantial legal trouble in recent years.

You know the names:

• Sam Bankman-Fried, sentenced to 25 years
• Changpeng Zhao, released after four months
• Nader Al-Naji, arrested and (if convicted) faces a maximum sentence of 20 years in prison
• Arthur Hayes, six months of home confinement
• Do Kwon, arrested and could potentially face significant jail time
• Mark Karpeles, arrested in Japan over Mt. Gox legal trouble
• Alex Mashinsky, arrested in 2023 and is currently on trial
• Charlie Shrem, pleaded guilty in 2015 and served a year in prison

Crypto.news collected some commentary about whether the crypto industry has a serious leadership problem, or simply suffers from a few bad apples. At a glance, it does seem like fertile ground for shady goings-on.

But then again, “is it worse than anything else that’s out there?” asks Anthony Scaramucci, founder of SkyBridge Capital.

“You could say there are bad apples in other parts of finance,” Scaramucci told us via Saxo. “I would maintain it’s not worse than anything else. I would say that we’re in the process of cleaning this up.”

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Author: Anthony Patrick