This Week in Startups Crypto Roundtable: SBF updates, $GBTC's role, Saylor says $ETH is unregistered security | E1631
Dec 8, 2022
Dive into the latest in crypto as experts discuss intriguing updates on SBF and FTX. Explore the pivotal role of Grayscale Bitcoin Trust and why Genesis is raising red flags. Discover Michael Saylor’s controversial stance on Ethereum and Ripple as securities. The conversation also covers the urgent need for transparency in crypto regulations and the risks of over-reliance on key figures, while humorously speculating on upcoming congressional appearances. Prepare for a lively look at the shifting tides in the crypto landscape!
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Bahamian Withdrawals
- Sam Bankman-Fried (SBF) allegedly let Bahamians withdraw funds during FTX's collapse.
- This act, amidst the crumbling exchange, raises questions about potential preferential treatment and SBF's motives.
GBTC's Role in Crypto Instability
- The Grayscale Bitcoin Trust (GBTC) played a significant role in the crypto industry's instability.
- Its premium over Bitcoin price incentivized arbitrage, contributing to unsustainable yields and eventual market collapse.
Absurd Returns = Scam
- Be wary of predictable, absurd returns in any investment, especially crypto.
- If an instrument's return is significantly higher than traditional markets, it's likely a scam.