FTX funded risky bets with customer funds

November 17, 2022
< 1 minute

By Sorin Anagnoste

Strategy | Business Models | Tech

There is a good thing in this FTX story going on: we are going to have a film! On the bad side, 10 billion “evaporated”.


FTX funded risky bets

Sources: Taleb’s paper; WSJMatt Levine in Bloomberg


It’s not a secret that I’m bearish on crypto and somehow bullish on blockchain technology.

Nassim Nicholas Taleb already demonstrated in a paper that Bitcoin, the all-mighty crypto, is:
1) not a currency, 2) not a store a value, 3) not an inflation hedge, 4) does not protect against “tyranny” and 5) not decentralised.

The overall situation in the crypto space reminded me of the “dot-com” bubble, which resulted also in billions spent on infrastructure which was later used by the next generations of startups launched between 2004 – ongoing.

So maybe, just maybe, all this money vaporised will not be in vain. Hopefully!

Discover posts:

Microsoft is all in on AI

Microsoft is all in on AI

Source: Microsoft Microsoft showed a 36 minutes video on their new toys: AI to all productivity tools. Writing is one of the most powerful skills one can have. Now, even if you don’t have it you still have great help: Microsoft AI Copilot and other similar tools. What it means (...)

Read more