March 19, 2024

The collapse of the FTX crypto exchange lifted the curtain on the structure of American society

The story of the collapse of the empireSBFvery informative, but not at all in the part that lies on the surface.Loud headlines"Wah-wah, another crypto exchange turned out to be insolvent!” for cryptoskeptics will serve only as a reflexa reason to strengthen their convictions: “I knew that the whole crypt is a scam! BTC to zero!” But there are at least three points here that Amer sources ignore:

- First.Why did the collapse occur precisely after the midterm elections in the United States, and not before them? Why did a perfectly working business model suddenly become unviable? With whose, so to speak, final go-ahead, the price of tokens/shares suddenly drops several times, despite the fact that all the critical information (compromising evidence) was known to everyone who really needed it back in the summer.

– The very type of crypto businessman.It turns out that it is not enough to be born into a family of Stanford professors, to have access to the latest nootropics, to date the daughter of the head of the MIT economics department, and to be a donor to the Democratic Party. To be completely successful in the most delicious areas of the American digital economy, you must first of all havementorfrom strictly real people.

— and finally, the moral aspects of shortselling and cryptoregulation. The SBF empire collapsed not at all on its own initiative, but only after carefully organizedleaks, which could have been arranged as competitors incrypto business, and the US Democratic Party, covering its tracks, and short sellers, or all interested parties at the same time. It is noteworthy that, fearing to short the FTT crypto token itself, short sellers bet on the stock fallingSIon the New York Stock Exchange and covered themselves with pompous reasoning:we only saved the clients of the FTX exchange from a scam and in no way stained our hands with earnings on someone else's misfortune!Although in fact it was the FTX balance leak that causeddomino reaction and subsequent loss of funds of all hamster investors. It’s also interesting how professional short seller Marc Cohodes (a type completely absent from the Russian stock market) builds his argument:where does some 30-year-old Sam Bankman-Fried get the money?

Where do they come from, say, Justin Sun? or the founder of Binance?