Sabs—your tone here isn’t really in the spirit of EA Forum norms, IMHO.
I’ve followed crypto news pretty closely for the last couple of years, and the consensus in crypto and finance generally was that FTX was a big, serious, secure, respectable operation, vetted and backed by many of the most prominent VCs and investors in the industry, and doing great work lobbying for crypto acceptance in Washington DC.
That’s my honest assessment of what most crypto insiders and investors thought, up until last week. If there had been big red flags around FTX that were commonly discussed in the crypto industry, I think I probably would have known about it. (I’m about 70% confident in this; but I could be wrong.)
Sure, there were some skeptics who pointed out potential problems with FTX. There are always skeptics and FUD-promotors, regarding any crypto protocol, exchange, or business. If they happen to be right, they pop up later and say ‘See, I told you so!’.
Hindsight is always easy in these cases. But it’s important to be empirically correct about whether there were, in fact, big warning signs about FTX that were being widely discussed in crypto and finance news and social media. There were a few, but not nearly as many red flags as there were around Luna, or Tether.
Sabs—your tone here isn’t really in the spirit of EA Forum norms, IMHO.
I’ve followed crypto news pretty closely for the last couple of years, and the consensus in crypto and finance generally was that FTX was a big, serious, secure, respectable operation, vetted and backed by many of the most prominent VCs and investors in the industry, and doing great work lobbying for crypto acceptance in Washington DC.
That’s my honest assessment of what most crypto insiders and investors thought, up until last week. If there had been big red flags around FTX that were commonly discussed in the crypto industry, I think I probably would have known about it. (I’m about 70% confident in this; but I could be wrong.)
Sure, there were some skeptics who pointed out potential problems with FTX. There are always skeptics and FUD-promotors, regarding any crypto protocol, exchange, or business. If they happen to be right, they pop up later and say ‘See, I told you so!’.
Hindsight is always easy in these cases. But it’s important to be empirically correct about whether there were, in fact, big warning signs about FTX that were being widely discussed in crypto and finance news and social media. There were a few, but not nearly as many red flags as there were around Luna, or Tether.