The Hubris Of FTX And The Humility Of Bitcoin

By akohad Nov9,2022 #Exchanges #Marty


This is an opinion editorial by Josef Tětek, the Trezor brand ambassador for SatoshiLabs.

So FTX is rekt after all. As we’ve witnessed throughout the year, even the “reputable” industry actors are basically just high rollers who got lucky for some time — until reality catches up with them.

Bitcoin is an unforgiving phenomenon. The sheer reality of its 21 million limit and the intrinsic inability to print any more should put everyone’s ego on mute; but from time to time there come individuals who think they’re larger than bitcoin. Zhu Su and Kyle Davies. Alex Mashinsky. Do Kwon. Sam Bankman-Fried. The one factor they had in common is called leverage.


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By akohad

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