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Ep. 1129: Bankman with Michael Covel on Trend Following Radio
Michael Covel's Trend Following
The Scam of the Bankman
A significant portion of the crypto world are scams, Ponzi schemes, et cetera. Think about this scam with the Silicon Valley venture capitalists. They take money from pension funds and those people don't know where their retirement money is going. And maybe they can make it look like their fake product is a real product. If you can manage billions upon billions with a management fee, perhaps an incentive fee, you're going to be making millions yourself. It is also a Ponzi scheme, a big fucking scam.
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