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Sam Bankman-Fried sentenced to 25 years in prison
(www.web3isgoinggreat.com)
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this post was submitted on 28 Mar 2024
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His poor billionaire victims
Were there not a fair pile of 'mom and pop' / young idiot 'investors' who got on the hype train and put in thousands or tens of thousands?
That was probably the large majority. Anybody who knew what they were doing didn't leave their money on FTX.
the fall of FTX took out large swathes of the remaining crypto economy, especially in Africa. Everyone just used FTX as a shitty bank.
but then, if they knew what they were doing, they wouldn't have gone near crypto
Well yeah, you're right, it was more than just an exchange failing