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I really hope Do Kwon ends up in prison for life.

• smt88 4y ago
  It seems to be the opposite. Major investors and exchanges are trying to legitimize him by supporting the Terra relaunch. It is absolutely amazing how crypto companies and enthusiasts can get scammed by someone and then go right back to trusting them, literally less than a month later. https://decrypt.co/101405/crypto-exchanges-including-binance-ftx-to-support-terra-2-0-relaunch https://decrypt.co/101405/crypto-exchanges-including-binance...
  • pvarangot 4y ago
    It's not trusting them as much as setting legal precedent so that they also don't end up in jail if there's a bank run on their tokens/chains.
  • staticassertion 4y ago
    If you're massively invested in crypto you need to pour a lot of money into legitimizing it and putting out fires wherever possible. Imagine you're running a scam on the street - let's imagine a dozen people playing "guess the card" (and cheating). Someone comes up and goes "woah, I saw that guy cheating, hey everyone this whole thing is a scam" - now you have two options, disavow that one guy and say "well the other card games are legit", or prop that scammer up and say "no no, that's just how the cards are played, it's a very complex system". The latter is appealing since it admits no fault in the system. If people generally see these card games as having a high potential for being a scam, you want to avoid that scrutiny even at a very high cost.
  • georgeecollins 4y ago
    When people's beliefs are refuted they often double down on them. It's a phenomena that people have studied. https://en.wikipedia.org/wiki/When_Prophecy_Fails https://en.wikipedia.org/wiki/When_Prophecy_Fails