In all honesty, I have no concerns. I think this is an incredibly positive event.

- It's entirely banking shenanigans. These banking shenanigans are substantially more prevalent in the frothy world of venture capital, and venture capital plus crypto has been an abjectly miserable combo. The more what get skint the better for democracy.

- One of my least favorite projects, Solana, is getting punished. It deserves to. It's a miserable scam. Do not ask me to rag on Solana unless you've brought a lunch.

- It exposes the chummy Democratic friend network right at the time the Republicans need a witch hunt. There's a lot of Republican fuckery, too, which means a great deal of distance-dancing right as the Republicans are walking into a razor-thin majority in the house. Now - will they sink their teeth into fucking Hunter Biden's laptop? Or maybe go after the good ole boy network that tried to lock up a monopoly for a power-broker's son? As far as I'm concerned the Republicans will have an opportunity to do actual objective good at a time when they could really use the votes. It gives them an opportunity to define themselves away from Trump. Will they take it?

- mutherfucking regulation is sorely needed. Here's the dumb thing: if you live in New York or Washington State, you've been subject to this regulation for like seven years. I live in WA; I can interact with Coinbase and Gemini, both of whom did the due diligence to comply with banking law. If I were in NY I could also interact with Kraken but fuck Kraken, who went "waaaah these laws are too hard." Here's the thing, though - nearly every institutional fund trades with Coinbase because they support institutional level custody and reporting... and they worked with FTX, because FTX had a fuck-ton of derivatives.

- and if you really wanna play with crypto derivatives? If you really wanna play games with risk squared or risk cubed? guess what mutherfucker. I can't even find my world's tiniest violin.

Here's the excruciatingly frustrating thing. There are crypto projects out there with an eye to the future, who recognize the utility of blockchain, who put one foot in front of the other and innovate. And then there are vipers fleecing suckers. And the thing that pisses me off the most is the vipers are trained not to bite rich people, and the rich people know it, they can snake-handle all day long and hand the asp to some retail robinhood reject fully knowing that they got theirs and it's bitin' time.

And I want them to burn.

My twitter timeline is full of hyperconfident children who made a "ten bagger" or some shit last year and are now the seasoned captains of industry imperiously passing judgment on one and all AND THEY GOT BLOWED UP AND REVEALED THEMSELVES TO BE THE LUCKY CHILDREN THEY COULD HAVE BEEN IF THEY WEREN'T SO BUSY HYPING BULLSHIT TO SUCKERS THAT THEY HAD ALREADY EXITED.

FTX? FTX is the Tenth Plague, come to smite the enemies of righteousness.

Do not confuse my interest in FTX with concern over FTX.