The world’s third largest Crypto exchange is now insolvent. Here’s as quick a synopsis as I can make, and why I think it’s a net positive. Sam Bankman-Fried, aka SBF, child of Stanford professors, MIT grad yadda yadda, finds an arbitrage opportunity to exploit a JPY/BTC premium and makes like a billion dollars. He then proceeds to go on a stated mission of effective altruism, making him the golden boy of Crypto, pledging to (at a future date) give all his money back to charity. Cover of Forbes, Fortune, etc, etc.
Why the FTX Blowup is Good for DeFi
Why the FTX Blowup is Good for DeFi
Why the FTX Blowup is Good for DeFi
The world’s third largest Crypto exchange is now insolvent. Here’s as quick a synopsis as I can make, and why I think it’s a net positive. Sam Bankman-Fried, aka SBF, child of Stanford professors, MIT grad yadda yadda, finds an arbitrage opportunity to exploit a JPY/BTC premium and makes like a billion dollars. He then proceeds to go on a stated mission of effective altruism, making him the golden boy of Crypto, pledging to (at a future date) give all his money back to charity. Cover of Forbes, Fortune, etc, etc.