1.
Allowed negative = allowed fraud. When you exempt one player from the rules everyone else follows, you're not running an exchange — you're running a scam.
2.
Cause-washing enables theft. Wrapping greed in effective altruism or any grand mission lets fraudsters justify anything, even stealing customer deposits.
3.
No audit = no trust. Billions from elite VCs, zero independent oversight, no functional board. When institutions skip diligence, small-time reporters catch what they miss.
