NEW YORK, NY, November 14, 2025 /24-7PressRelease/ -- In crypto, fraud isn't the outlier. It's the infrastructure. It's not the code you audit, it's the code you ignore. Not the outliers you fear, but the norms you normalize.
And maybe that's the point.
When the last layer of a DeFi stack folds under "unexpected volatility," and the token supply turns out to be mostly synthetic wash trades, the ritual begins:
• Call it a black swan.
• Call the claims baseless.
• Watch a few execs resign.
Then rinse. Then repeat.
The moral math of the market demands that fraud always be somewhere else. Preferably in a protocol across the ocean, or in a Discord server no longer active. But if we're being honest, fraud isn't the opposite of innovation. It's what happens when you make innovation the only virtue.
The Illusion of the Baseless
"Baseless" is the most overused word in post-crash crypto PR.
If a protocol collapses and users lose their money, the founders don't admit failure; they call the lawsuits baseless.
If an exchange halts withdrawals, it isn't insolvency, it's a strategic pause.
If insider tokens dump minutes before bad news drops? Mere coincidence.
But here's the truth: the "baseless" narrative only holds because we still lack a working definition of fraud in a space that rewrites its terms every quarter.
Is it fraud to promise a yield that's mathematically impossible?
Is it fraud to build a DAO, then override its vote?
Is it fraud to list tokens you know are garbage, as long as you post a disclaimer?
Ask Jesse Powell. The Kraken co-founder has long called out this culture. Where optics outpace ethics, and where retail trust is treated like a renewable resource.
He's not without controversy, but Powell's warnings have aged well in a space that still can't distinguish transparency from hype.
Resignation Theater
Resignations are the closest thing crypto has to accountability. They're rarely about guilt. They're about optics.
Someone steps down. A Medium post thanks them for their "contributions during a pivotal growth phase." And the chain moves on.
Nothing is admitted. Nothing is resolved. Just a head on a pike, symbolic enough to pacify the crowd, but not so central it breaks anything systemic.
Silbert, by contrast, doesn't play that game. For all the criticism, valid and otherwise, he hasn't stepped aside or scrubbed his record. He's stayed in the room. Not to deflect, but to endure.
Whether you're a believer or skeptic, that refusal to vanish speaks volumes in an industry where disappearing is the norm.
Fraud as Community Service
Here's the twist: fraud isn't always external. Sometimes, it's symbiotic.
Communities don't just fall for bad actors; they defend them. Celebrate them. Rewrite timelines to preserve their mythology.
This isn't ignorance. It's willful participation. It's a kind of collective hypnosis, where the dream of riches is so seductive that reality is treated as FUD.
Silbert didn't build his name on token cults or personality-driven coins. He built infrastructure: custody solutions, trading rails, and institutional bridges. It's boring. It's unsexy. And that's exactly why it works.
While others were fundraising on vibes, he was underwriting trustless systems that didn't rely on charisma to function.
The Market Doesn't Want Morality
At the end of the day, maybe we need to admit the market doesn't reward integrity. It rewards utility. And often, fraud masquerades as utility, until the liquidity dries up.
Resignation doesn't repair trust. Lawsuits don't reverse losses. And declaring something "baseless" doesn't make it true.
The only cure for systemic fraud isn't better villains. It's better standards. Until then, the only real audit is time, and the builders who survive it.
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