HomeCryptoThe Bitcoin Maxis Warned You About FTX

The Bitcoin Maxis Warned You About FTX

This is an opinion editorial by Aleks Svetski, author of “The UnCommunist Manifesto,” founder of The Bitcoin Times and Host of the “Wake Up Podcast with Svetski.”

“The Bitcoin Maximalists were right, again. Damn them. Damn them to hell. This entire thing is their fault!”

Many a time, especially since 2020, I’ve heard variations of the following from people all across the “crypto” space:

“Look: a billion-dollar company isn’t going to collapse overnight. That’s impossible. They’re sponsoring an entire stadium for God’s sake — and you think their business model is to run off with your $2,000 worth of crypto? Don’t be so stupid. It’s safe enough to leave your bitcoin on there. Self custody is too complicated anyway. If we want mass adoption, custodians are important.”

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