Bankless Bankless x UpOnly Therapy Stream
Nov 10, 2022
Ledger and Cobie, co-hosts of the UpOnly podcast with extensive crypto expertise, join forces to analyze the crypto industry's recent turmoil, especially the fallout from the FTX crisis. They tackle ethical dilemmas in crypto investments, reflecting on financial management and accountability. The conversation delves into navigating the unpredictable landscape of cryptocurrency, emphasizing safety for everyday investors, and the growing importance of integrity in sponsorships. With a mix of banter and serious insights, they provide tips for thriving in these challenging times.
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Episode notes
Alameda's Survival
- Alameda Research should have collapsed along with other firms during market downturns.
- FTX bailed them out with customer funds, creating a multi-billion dollar hole.
SBF's Intentions
- Sam Bankman-Fried's (SBF) motivations are unclear; whether he was always a con man or his actions resulted from incremental bad decisions.
- Cobie compares SBF to Elizabeth Holmes from Theranos, suggesting SBF might have started with good intentions.
Cobie's BitBoy Interactions
- Cobie recounts his limited interaction with BitBoy, including funding Atozy's defense and discussing token promotion models.
- BitBoy used Cobie's emailed thoughts on token promotion in a video, presenting them as his own.
