Ok, I just meant, when SBF comes out and says, "liquidity crunch, bank run", he means, he stole the money, or charitably, let someone steal it on his watch. Or even more charitably, invested it in an unacceptably stupid way.

For Kraken the slowdown is less business. Crypto is down, as are equity markets, and these are highly correlated (go figure - "inflation hedge").

I'm not even sure if FTX blow up itself is bad for them. Not only is a competitor out, but also people might appreciate a regulated crypto exchange.

So I think maybe "geopolitical" is not outrageously wrong a term to use here.

Any other critiques of crypto are not affected.

Didn't I read recently that Meta, Google, and all those companies are laying off people? Not going to talk about Twitter because that's a special case ;).