Have celebs learned their lesson from the FTX debacle?

, and sought to create an aura of respectability that much of the rest of the crypto industry — awash with scams and price fluctuations — lacked. This summer, as the sector struggled, FTX offered other crypto firms buyouts and acquisition offers, even as the Federal Deposit Insurance Corp.

For Moskowitz, that question is straightforward: “These are unregistered securities, you promoted them, you’re liable.”“We don’t know if these things are going to ultimately be deemed securities,” said Sheila Warren, chief executive of the Crypto Council for Innovation trade group. “There’s a very strong argument that they are not at all and never are; there’s an argument that they start off as securities. … All those arguments exist, and it is unsettled.

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