Text size About the author: Kevin Werbach is the Liem Sioe Liong/First Pacific Company professor and chair of legal studies and business ethics, and director of the Wharton Blockchain and Digital Asset Project, at the University of Pennsylvania’s Wharton School. The sudden collapse of leading digital asset exchange FTX is spurring fresh questions about risky behavior in the volatile world of crypto. It will take time for the full impacts to be felt and all the facts to come out. However, this incident is a resounding endorsement of the U.S. approach to digital assets, while also demonstrating how much work...