I would like to start by saying that FTX is fraudulent. They don't represent the Canadian cryptocurrency industry. They don't represent any of the exchanges we currently have in Canada. They had poor governance and were fraudulent from the get-go.
It would be good to separate that there are fraudulent entities such as Enron, as you stated, out there, and then there are good actors working towards clear regulation. The cryptocurrency industry, especially in Canada, has members like NDAX and others that have been working very closely with regulators.
There were failings of groups like Quadriga and the Einstein Exchange in Canada. This happened many years ago. Based on that, our Canadian regulators came in and we have been working very closely with them, law enforcement, IIROC and OSFI for years to not only make sure that Canada has the strongest regulations, but that we have safeguarded and made sure that consumers are protected.
While I cannot speak for other jurisdictions, I would say that Canada's very stringent and strict regulations are somewhat difficult for this industry to be able to navigate. However, because we had failings like that happen very early in the Canadian space, it would be extremely unlikely that an incident like FTX could happen in Canada again.