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The psychology of this is fascinating. Here we have crypto golden child SBF worth billions of dollars. He literally never had to do anything for the rest of hi
by jmyeet 4y ago
The psychology of this is fascinating.
Here we have crypto golden child SBF worth billions of dollars. He literally never had to do anything for the rest of his life. Even if he lost billions on Alameda and/or fTX he'd still be completely fine. Instead, he seemingly stole FTX customer assets in a failed attempt to save Alameda, run by his girlfriend.
The upside here was what? More money? How much money do you need? Or is it not about the money but rather he simply values how he's perceived? So instead he's going to be a John McAfee like figure or spend a significant chunk (if not the entirety) of the rest of his life in prison because this will absolutely end in US criminal prosection.
As an aside, crypto-skeptics such as myself will point out using an exchange like this still requires trust (like TradFi). DeFi Andys will say DeFi doesn't. Crypto Andys will still argue crypto's imagined benefits but one of those "benefits" is the irreversibility of transactions, which means in cases like this where assets are stolen, backdoored, hacked (I'm being generous) or whatever, you have no recourse to get them back.
- Eisenstein 4y ago> Here we have crypto golden child SBF worth billions of dollars. He literally never had to do anything for the rest of his life. Even if he lost billions on Alameda and/or fTX he'd still be completely fine. Instead, he seemingly stole FTX customer assets in a failed attempt to save Alameda, run by his girlfriend. You can see that the same drivers and personality traits that allow a person to succeed at such an enterprise are the same ones which would lead a person to fail at such an enterprise.