There is just something about Silicon Valley that makes people think they’re doing God’s work; it’s bonkers. A friend of mine is in the tech industry and a Stanford grad and kept telling me how great blockchain technology is and how it’s the future. I still don’t get it - it’s an entirely subjective, speculative device that is simply too volatile to function as anything more than an easily accessible stock. That accessibility and volatility is why everyone is trying to get rich off of it.
In terms of FTX, SBF losing means CZ and his Chinese backed Binance market wins - maybe that’s a good thing, who knows? But, he’s against crypto regulation and probably the guy who outed FTX (his sell off of FTX issued FTT tokens was the first red flag for FTX - then the ‘leak’ - most likely by CZ - showing FTX was using customer funds improperly was the dagger). Any company set up in the Bahamas - like FTX - is up to no good. Extra cash? Buy art.
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