Unchained Adam Cochran on Why Crypto Prices Will Be Down Bad for the Next Six Months - Ep. 427
Dec 2, 2022
Adam Cochran, partner at Cinneamhain Ventures, dives into the fallout from recent crypto collapses and shares his predictions for the market's future. He discusses whether Sam Bankman-Fried was truthful in a recent interview, the low engineering staff at FTX, and the potential for Genesis and Digital Currency Group to navigate liquidity issues. Adam expresses concern over Grayscale Bitcoin Trust and reflects on the lessons from this crypto winter, while assessing the impact of bankruptcies like BlockFi on the landscape.
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SBF's Fictional Narrative
- Sam Bankman-Fried's (SBF) Dealbook interview seemed like a work of fiction, full of lies.
- His narrative probably aims to portray his actions as negligence rather than fraud.
SBF's Legal Strategy
- SBF's legal strategy might involve portraying himself as negligent rather than fraudulent.
- This is because negligence is a lesser crime than fraud, and his statements don't align with his known intelligence.
Small Engineering Team
- FTX had a small engineering team, which raises questions about SBF's involvement in everything.
- Even a small crypto exchange in 2013 had more than 12 employees, unlike FTX.