Crypto is Aging Like Milk, Now What’s Next?
Bernie Madoff would be proud
The next Warren Buffett:
Cathie Wood … nope
Vlad Tenev … nope
Chamath Palihapitiya … nope
Sam Bankman-Fried … nope
False idols. Golden calves. All of them.
Every single one of them were investing superstars only a year ago. They were hailed as geniuses, oracles, and visionaries. And now? They’re all washed up. Done. Bankrupt like a Lehman Brothers bond trader.
The worst, however, is FTX CEO Sam Bankman-Fried who — due to overleveraging user funds that were supposed to be back 1:1 on his exchange — filed for bankruptcy this week potentially destroying 130 other companies (including BlockFi?) and celebrity careers in the process.
Jesus tap dancing Christ, what a mess.
Do you understand the implications of this?
Crypto just erased years of progress. Poof. Gone.
Tom Brady. Stephen Curry. Shaq. Dozens of high-profile celebrities, politicians, and institutions were connected to FTX and now all their money is gone along with their faith in crypto.
This is a disaster.
