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I think the celebs like Tom Brady who promoted FTX should be held personally responsible for some of the losses and be sued. There are people who invested in this stuff just because Shaq or Brady said so. That should carry some weight. Real financial institutions have all sorts of regulations before someone can hand over their life savings. With crypto its enough that Tom Brady said to do it?
And maybe running a fraudulent crypto scam should be a capital offense? I am down with that.
A lot of our major banks were getting their feet wet in crypto as well. No way the contagion doesn't spread on this one. Lot of people are going to be holding empty bags. I was just getting ready to start accepting crypto payments. Think I'll wait a few years now... Or decades for the industry to evolve. Cash may be trash, but at least it's physical and I can hold it in my hand on demand.
As crypto collapse was happening Musk said he would put Tesla profits in.
You have to wonder if he lost a large share of his wealth in an attempt to shore up the market.
As crypto collapse was happening Musk said he would put Tesla profits in.
You have to wonder if he lost a large share of his wealth in an attempt to shore up the market.
He is the richest man in the world. I think he will be ok. Buying Twitter (a company never designed to make a profit) was likely a much greater financial mistake.
He is the richest man in the world. I think he will be ok. Buying Twitter (a company never designed to make a profit) was likely a much greater financial mistake.
Looks that way. I do not think it will do well as a subscription service.
In before, the usual "well if you invested in Bitcoin when it was $20 you still made a ton of money".
Bitcoin down 72% since a year ago.
It worked out very well for SBF. His key his coin. Bitcoin acted exactly how it should have. That's kind of sad but yeah I am sure he has cold keys around the world. If he can make it out of the Bahamas he will be beyond the reach of law enforcement or the irs.
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