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> It was no secret that SBF hated traditional finance. Uh? The guy worked in traditional finance for a few years and was pushing for more regulations on crypto
by olalonde 4y ago
> It was no secret that SBF hated traditional finance.
Uh? The guy worked in traditional finance for a few years and was pushing for more regulations on cryptocurrency. His parents were compliance lawyers. He donated tons of money to the democratic party to push for regulations. He ran a centralized exchange. This does not exactly scream DeFi... He was just an opportunist who saw crypto as a means to get rich quick and apparently, getting rich from trading fees was not quick enough for him.
There are a lot of "gold bugs" types in crypto but they mostly self-custody BTC and stay away from shitcoins and day trading.
- oldgradstudent 4y ago> The guy worked in traditional finance for a few years and was pushing for more regulations on cryptocurrency. He was definitely not pushing for bank supervisors examining the books of Crypto exchanges. FTX could not withstand a bank supervisor momentarily glancing at their books from a distance.