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kleinbl00  ·  730 days ago  ·  link  ·    ·  parent  ·  post: Y'all we gotta talk about FTX.

"Rich connected kid leverages his week in traditional finance to convince a bunch of venture capitalists to give him money. He uses a lack of regulation to turn their money into 1000x leveraged loans that he then uses to buy politicians, regulation, and other crypto projects. Bet goes south, shit gets ridiculous, Capitalists Everyone Hates get skint, exciting Michael Lewis movie forthcoming."