A lot of people think the collapse of FTX is evidence that crypto doesn't have a future.
For me, it's the exact opposite. This proves why crypto—trustless, permissionless, uncensorable crypto—is the only path forward for the future.
This week, we grieved. Next week, we build.
I feel this.
I really wish to see state-free money, decentralized financial systems, sovereign digital identity, free markets, programmable assets, cool economic experiments.... and all I get are centralized scams with, regulator lobbying, backroom dealing sociopathic frauds
Silicon Valley Bank's customer withdrawal made history.
$42 billion was withdrawn Thursday.
That's $4.2 billion an hour.
Previous largest bank run in modern U.S. history was Washington Mutual bank in 2008, and totalled $16.7 billion over 10 days.
History is being written.