The cryptocurrency exchange FTX.com filed for bankruptcy this week, as did many of its associated companies. What went wrong? It was a Ponzi scheme; that’s what went wrong. The Boy Wonder “Youngest Self Made Billionaire in History,” Sam Bankman-Fried (who will be forever known as Sam Banking-Fraud) also ran affiliated crypto trading firm Alameda Research, […]
The Crypto Cleansing
November 19, 2022Year to date: Bitcoin is down 66% Ethereum is down 69% Cardano (ADA) since January 19 is down 89% DOT is down 80% You get the picture. 2023 has been a brutal year for crytpo. For comparative purposes: Gold is down 4% The TSX is down 7% The S&P 500 is down 18% The DOW […]