Between Kraken’s $1 million spend on subpoena responses in 2019 and stories like the $2 million it cost Blockstack to raise $23 million in an SEC-compliant token sale (8.7 percent of the raise), it begs the question: Will compliance costs fundamentally limit innovation by demanding big war chests to play? Will the most successful companies be those that (like Block One) simply raise enough to pay off the regulators on the back end?