Cryptocurrency

FTX Collapse And Humility Of Bitcoin – Bitcoin Magazine

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This is an opinion editorial by Josef Tětek, the Trezor brand ambassador for SatoshiLabs.

So FTX is stretch after all. As we’ve witnessed throughout the year, even the “reputable” industry actors are basically just high rollers who got lucky for some time — until reality catches up with them.

Bitcoin is an unforgiving phenomenon. The sheer reality of its 21 million limit and the intrinsic inability to print any more should put everyone’s ego on mute; but from time to time there come individuals who think they’re larger than bitcoin. Zhu Su and Kyle Davies. Alex Mashinsky. Do Kwon. Sam Bankman Fried. The one factor they had in common is called leverage.

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