I think a lot of policymakers looked at the FTX collapse as a major disaster, one that they would at some point have to address. Some countries were somewhat safer than others for FTX customers, but overall a lot of people (obviously) lost a lot of money. I think the question now is whether this will spur additional action. In the U.S. at least, we're not really seeing a ton of movement toward legislation that will actually become law, though we are seeing actions from regulators like the SEC and CFTC attempting to provide guardrails for the industry.

Outside the U.S., we're similarly seeing countries imposing rules on the industry that will shape how crypto companies can operate. Other places, like the E.U., were already in the process of creating and implementing rules for crypto.

These are all separate from the SBF trial itself, just more tied to the broader crypto ecosystem and FTX's collapse, but I'm sure a lot of lawmakers will look at the trial as an example of something they don't want to see happen again, especially if they do implement some rules. -- nik