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In the latest episode of the real-time Netflix documentary of the collapse of FTX and the erratic behavior of the former ‘white knight of crypto’ Sam Bankman-Fried. SBF gave a very candid interview with Vox via DM, to which the interviewer himself stated that he was appalled by some of the answers. In the DM exchange, Bankman-Fried admitted that his lobbying efforts in Washington were just for PR and his true belief about regulation is simple ‘f*ck regulators.’ From Bankman-Fried’s view, regulators only make things worse Sam suggests that ESG has been perverted, the FDA does nothing, Banking does nothing, the crackdown on big tech does nothing…yet, it's a game that everyone plays. Meanwhile, as SBF is surprisingly granting interviews, his FTX CEO successor, John Ray III, is describing FTX as one of the worst examples of corporate controls he’d ever encountered. And for context, John Ray III oversaw Enron’s liquidation in the 2000s.
Humans are the problem. And Bitcoin fixes this. That has been the ongoing mantra for Bitcoin advocate Michael Saylor. In an interview with Natalie Brunell, Michael Saylor suggests that as long as we have natural human behavior, then we will always have FTX-type collapses. The settings differ, but the underlining problem will always be there which is human behavior. Saylor argues that as long as there is an opportunity to cheat, lie and steal, humans will do it and Bitcoin can neutralize this.
Michael J. Saylor is an American entrepreneur and business executive. He is the executive chairman and co-founder of MicroStrategy, a company that provides business intelligence, mobile software, and cloud-based services. Saylor served as MicroStrategy's chief executive officer from 1989 to 2022. In 2020, Saylor adopted the Bitcoin strategy when MicroStrategy used $250 million from its cash stockpile to purchase 21,454 Bitcoin.
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'FTX' Collapses Will Keep Happening Because Of This | Michael Saylor
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