It's hard to take the @FT seriously when its editors let a piece like the one @RanaForoohar wrote on crypto get through their review process. She seems to confuse stablecoins (which are pegged to the dollar and backed by Treasuries) with other crypto assets. She argues that risk in the sector is at dangerous levels and crypto people are reckless, and yet says Congress establishing a regulatory framework for crypto markets is bad because derivatives regulations in the 1990s didn't prevent the financial crisis. She argues that Bitcoin is used by bad people, yet she doesn't grapple with the reality that far more illicit activity in percentage and absolute terms occurs in the traditional financial system. And she seems to say that allowing people to own crypto will fuel populism, completely oblivious to the fact that it is exactly this type of mocking disdain from the elites is what causes populism. The Financial Times is a good paper and should put its writers through some sort of review process before publishing barely researched hit jobs.