Billionaire investor Mark Cuban said he told cryptocurrency advisers to Vice President Kamala Harris over lunch that the FTX collapse could have been avoided had the Securities Exchange Commission (SEC) chair not been Gary Gensler. Mark Cuban pointed to Japan's regulatory framework for cryptocurrency businesses, which requires crypto businesses to provide collateral for digital assets held by customers as a model to prevent a crisis that will rock the industry in 2022. Cuban argued that if SEC Chairperson Gary Gensler could act like Japan, companies like FTX and Three Arrows Capital would not go out of business. He criticized the SEC for relying on litigation enforcement rather than imposing aggressive regulation for the crypto industry.