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EP. 15: There Are No Bailouts in Bitcoin
Money Matters with Jack Mallers
Innovation in Financial Markets
Decentralized financial markets like Bitcoin demonstrate that a centrally planned intervention is not always required in times of financial collapse. The fall of FTX, one of the biggest exchanges, without any bailout, and the subsequent rise of Bitcoin to new highs, showcase how individuals should own their risks instead of socializing losses. This exemplifies that financial markets and society should operate where mistakes are not borne by the collective, emphasizing the need for a system where individuals bear the consequences of their actions.
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