Nortel wasn’t killed by Huawei stealing their IP, which certainly did happen. They tanked themselves with some terrible accounting that hid the terrible situation they put themselves in. Nortel and Enron are the reason GAAP is the gold standard and legally required to be reported these days.

There’s no way we’ll know this soon but, given there’s been a huge push at the SEC to clamp down on crypto-related financial crimes[1], I wouldn’t want to be anywhere near this debacle.

Before I go, I’ll just leave this link: Report Suspected Securities Fraud or Wrongdoing.

1. Dot your i’s and cross your t’s with crypto and dancing with the SEC. LBRY failed to register as a security when they pre-mined and yesterday it sank their company. Charges are pressed in bursts of new cases almost every month.

This is a regulated area, one that the SEC oversees. They’ve prosecuted insider trading on crypto: https://www.sec.gov/news/press-release/2023-98