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by musk_micropenis 1300 days ago
> farming this tragedy

There's no tragedy here. Let's be absolutely clear - every single person who lost money in this abomination was as greedy as SBF, trying to milk a cryptocurrency ecosystem they never believed in nor understood.

2 comments

Was it marketed to regular people, the financially naive? Were misleading statements and advertising used?

Then people who were told it was a safe way to invest lost significant money, they were defrauded. Some lost life savings, kids college funds, retirement funds, you name it. There are likely thousands of small tragedies here.

Being ripped off due to naivety does not make one as culpable of fraud as SBF. This is pure victim blaming.

People invest in things they don’t understand every day, and we have regulations to prevent predatory fraudsters taking their money. The crypto space needs to be regulated the same way. Preferably regulated right into the dirt.

Not everyone involved chose to be - for example, the Ontario Teacher's Pension Plan invested $95M into FTX. Thousands of teachers' retirement plans are impacted through no fault (or very possibly, knowledge) of their own.

https://www.forbes.com/sites/mikemcshane/2022/11/15/a-crypto...