February 5, 2023

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

History of the collapse of the empire SBF very 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 crash happen after the US midterms and not before? Why did a perfectly working business model suddenly turn out to be unviable? From 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, it is not enough to have access to the latest nootropics, it is not enough to meet the daughter of the head of the MIT Department of Economics, it is not enough to be a donor to the Democratic Party. For complete success in the most delicious areas of the American digital economy, you must first have mentor from strictly real people.

— and finally the moral aspects of short-selling and crypto-regulation. The SBF empire did not collapse on its own initiative, but only after a carefully organized leaks, which could be arranged as competitors incrypto business, and the US Democratic Party, covering their tracks, and short sellers, or all interested parties at the same time. It is noteworthy that, fearing to short the FTT crypto token itself, shortsellers bet on the fall of the stock SI on the New York Stock Exchange and covered themselves with high-flown arguments: 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 the subsequent loss of funds of all hamster investors. It is also curious how the professional shortseller Marc Cohodes (a type that is completely absent in the Russian “stock market”) builds the 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?