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Moon of Alabama | I have been in awe this week about the stupidity of the people who had invested in the crypto-'exchange' FTX. I am likewise in awe that anyone would have 'parked' their 'money' in an account of that unregulated entity. How stupid can one be? Crypto 'currencies' have no real purpose. They ain't money. Their value solely depends on the trust people have in them. When the trust vanishes their values go to zero. ● Its one big swamp. Its purpose here was to steal money from those little guys who are prone to fall for such schemes. This whole crypto stuff was always bad.
■ Hundreds of millions vanish from collapsed cryptocurrency giant
■ FTX Crypto Exchange Was Colluding With WEF to Launder Money For Democrats
■ The True Believer: How Bankman-Fried's worldview facilitated the creation and destruction of a crypto Ponzi empire