Quote:
Originally Posted by superdog
End of Crypto?.
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Not only no... HELL NO.
getting rid of shady players and adding the overlay of Governmental regulation is going to be positives that were really needed for the space to be even more legitimate.
In case anyone is interested I can explain the nuances, but it's slightly complicated and requires a history lesson. Suffice to say, Sam Bankman Fried is probably going to jail for a long time. They are just starting the investigations, but his company was Rehypothicating customers funds and raising liquidity by printing tokens and selling them to investors under the guise of a high rate of return even though those tokens were stable coins (Tokens pegged to the dollar and supposedly backed by assets at 1 to 1)
Thankfully, due to my personal cost basis, I am only down 15.41% over 24 hours... but it still stings and more importantly it puts a haze of uncertainty over the entire Crypto space just as we were getting back to normalization after the Terra Luna fiasco several months ago... and this one is much worse.