Orlando based Private Investigation firm F3 Intelligence Corp has been featured in a recent Newsmax article regarding the latest cryptocurrency scandal involving FTX and Sam Bankman-Fried. F3’s CEO Richard Ring was interviewed by Newsmax reporter Marisa Herman due to the firm’s unique ability to conduct both on-chain and off-chain investigations into crypto crimes. Richard Ring is both a licensed Private Investigator and Certified Crypto Forensics Investigator (CCFI). In the article, Herman asked Richard Ring about the FTX scandals overall affects on the crypto market in both the short-term and long-term.
The following is an excerpt from the article:
……. “Richard Ring, the CEO of F3 Intelligence Corp, an Orlando-based crypto and corporate investigation firm, said many crypto investors believe there would have to be a few “black swan moments” like the FTX scandal in order for crypto to become a more widely accepted “legitimate” asset class. He called the FTX story of potential fraud and scamming a “tale as old as time” that has nothing to do with the technology behind crypto and everything to do with those at the helm of the exchange “playing fast and loose with other people’s money.” After financier Bernie Madoff scammed investors out of nearly $65 billion, Ring said “no one was screaming over the U.S. dollar.” And in the case of FTX, he said a “bad egg exchange” has nothing to do with the tech behind crypto.
He noted that the rise of crypto is no different than any emerging tech that has faced “early Wild West days,” comparing those who lost huge sums with FTX to early oil rig scammers who promised to drill on people’s land if they invested before running off with their money without ever running a pipe. “It happens in any type of new industrial revolution, scammers, fraudsters take advantage of the new marketplace,” he said. While in the short-term the economy may feel a pinch from the bankruptcies of these exchanges, Ring said such growing pains are necessary because they will usher in exactly what the crypto industry needs to thrive: regulation. “…….
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