The roots of the problem, says Emmer, is that Bankman-Fried was incentivized to set up shop in the Bahamas, which let FTX’s execs hide their shenanigans. For this he partly blames, well, Sen. Warren. “They [FTX] manipulated this thing from offshore because of people like the senator from Massachusetts, who will not get anything of substance done so that we can have this investment, this innovation, right here in this country. It’s [a crypto legal framework] got to be in the Caribbean, for goodness sake, when stuff should have been here all along.”