FTX isn’t crypto! This can’t be stated frequently or loudly enough! SBF and his band of shysters have been all over the news. The Crypto exchange and its native token FTT have many shell shocked investors wonder WTF happened.

FTX did not have its own blockchain. It didn’t create, it didn’t program. They were simply some math loving nerds making increasingly riskier bets using Other People’s Money (OPM).

In the early days the bets paid off and they made some money. Ok, a lot of money. However, their luck which they mistook for skill, soon ran out. Remember, when making bets, the house always wins! Those big Vegas Casinos weren’t build by gamblers being successful.

Unlike blockchains, coins and tokens, Crypto Exchanges are not products. They are marketplaces more akin to a bank or brokerage firm.

SBF was a cocky dick. He made brazen bets with OPM while many Investors didn’t know they weren’t actually investing in crypto.

What were the warning signs?

What can we learn from this? … Continue readingBeyond the FUD