"White is also sceptical about solutions purporting to show which crypto companies represent a risk for banks and their customers. “It’s hard to individually predict which companies might later become a problem because, if banks knew a project was fraudulent, then people wouldn’t really be putting money into it,” she says."
and this quite validating:
"As financial institutions and the crypto industry continue to grapple over the right amount of regulation, others in the private sector have begun questioning the longevity and relevance of the industry itself after back-to-back scandals. Earlier this month in The Economist, the FTX collapse was described as a ‘catastrophic blow to crypto’s reputation and aspirations’ while a Reuters podcast similarly declared that the incident ‘consigns crypto to fringes of finance’. "