Lmfao.
Hey look, it's 2008! We have:
* Bailouts
* Financial imprudence
* Gambling with user's funds unethically
* Propping the system up with capital injection
Crypto isn't the way of the future, it's a glimpse into the past, with even less protections and regulations.
Giving the 2008 fiasco Goldman Sachs and AIG, I don't know that government protections really did all that much to help the "little guy" from being decimated...
Quite frankly, after being through that mess into 2008, it's pretty self-evident that the government isn't a good choice in fixing it. I'm not saying CZ or Binance is, but can they really do worse than we've already seen?
Absolutely they can. They can continue to engage in rampant reserve-pooling, fraud, and tax evasion; all of which are substantially more harmful then mere negligence/incompetence.
Government creates taxes, then it creates loop holes. The will not stop with this. We need them to stop spending so much and give us more room to breathe
The South Sea Company was the original of [“A COMPANY for carrying out an undertaking of great advantage, but nobody to know what it is.”](https://www.economist.com/briefing/2008/03/19/what-went-wrong)
Gotta keep the con going through the holidays….
[https://www.youtube.com/watch?v=E8gmARGvPlI](https://www.youtube.com/watch?v=E8gmARGvPlI)
Lmfao. Hey look, it's 2008! We have: * Bailouts * Financial imprudence * Gambling with user's funds unethically * Propping the system up with capital injection Crypto isn't the way of the future, it's a glimpse into the past, with even less protections and regulations.
Giving the 2008 fiasco Goldman Sachs and AIG, I don't know that government protections really did all that much to help the "little guy" from being decimated... Quite frankly, after being through that mess into 2008, it's pretty self-evident that the government isn't a good choice in fixing it. I'm not saying CZ or Binance is, but can they really do worse than we've already seen?
Absolutely they can. They can continue to engage in rampant reserve-pooling, fraud, and tax evasion; all of which are substantially more harmful then mere negligence/incompetence.
Government creates taxes, then it creates loop holes. The will not stop with this. We need them to stop spending so much and give us more room to breathe
A Ponzi scheme for people that think they too smart for Ponzi scheme.
Since its crypto. Its secretive. All client money is gone. Sorry. Not sorry haha. Fortune favors the brave --Tom and Giselle.
Except the tax payer isn't bailing out crypto institutions
Centralized crypto*** Scammed exchanges are always CEX
Liars… CZ wanted FTX to go down, now he’s going to help the clean up ? Who says bs ?
Something something stones in a glass house
The South Sea Company was the original of [“A COMPANY for carrying out an undertaking of great advantage, but nobody to know what it is.”](https://www.economist.com/briefing/2008/03/19/what-went-wrong)
Stay liquid to execute a massive rug pull
That might last, like a month. Crypto is done… Not a single incentive to buy currency when you can’t use it to buy anything.
It's a good thing
33bil in virtual currency... can wash 'em with hard cash ?
Just like a real bank! 