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The inverse take on this is that entrenched rich interests made all their money during such periods and have now used regulation to "pull up the ladder behind t
by corey_moncure 5y ago
The inverse take on this is that entrenched rich interests made all their money during such periods and have now used regulation to "pull up the ladder behind them". People who are foolish with their money will always find a way to lose it.
- SpicyLemonZest 5y agoCoinbase is worth $50 billion. I like Brian Armstrong more than I like the typical finance CEO, but his company is definitely an entrenched rich interest, and if we treat them as a scrappy underdog we're going to let them get away with things they probably shouldn't. You should be skeptical on principle when a billionaire tells you that a financial regulator is being unfair to them.
- itsme24543 5y agoin fact they make a lot of money from institutional investors https://www.theblockcrypto.com/post/116855/inside-coinbases-game-plan-to-be-a-one-stop-shop-for-wall-streets-largest-investors https://www.theblockcrypto.com/post/116855/inside-coinbases-..., so def not an underdog.