This episode of the HODLCast was recorded on Wed, Nov 9, 2022.   The FTX exchange has imploded, it turned out they were gambling with user's funds while lobbying for industry regulation in DC. FTX global, US, and Alameda Research all filed bankruptcy on Friday, and then got hacked late in the evening, draining all accounts to zero.   Decentralized exchanges fix this intermediary risk. People can hold their own assets, and transactions are fully transparent and operate on code. Anyone in DC who actually cares about protecting people should promote self-custody. Sadly, this type of situation gives the takeaway that crypto is the wild west and needs policing. However, perhaps this situation can be an example of the industry settling its own issues. FTX’s insolvency was exposed by the market and maybe it will be solved by the market.