It seems they were not always so independent. Former FTX auditor Prager Metis sued by SEC for hundreds of alleged violations
The U.S. Securities and Exchange Commission filed a lawsuit against auditor Prager Metis, who they allege violated auditor independence rules and aided and abetted their clients' violations of federal securities laws. According to the SEC, Prager Metis included indemnification provisions in more than 200 audits, reviews, and exams, which renders the firm no longer independent in its investigations of those clients.
The SEC has not released a list of clients, or tied this suit to the collapse of FTX.
The "Grift Counter" on Web3 Is Going Just Great stands at $68.24 billion dollars as I type this. That is the amount that people who were sure they understood crypto have lost, through scams, fraud, hacks, etc. I don't believe that counts the collapse in value of various NFTs, but I could be wrong.
Crypto was the new Get Rich Quick scheme. "Get Rich Quick" falls under the heading: There ain't no such thing as a free lunch.
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