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How Binance’s CZ starting the rumor about FTX, causing a liquidity collapse, and then acquiring the FTX is STRAIGHT out of the playbook of Rockefeller and Vanderbilt🧵👇:
It started when CZ was announcing that Binance was selling the FTT tokens after “disturbing information” had come to light about FTX’s balance sheet
Panicked, every FTX customer started demanding withdraws all at the same time - a run on the bank of FTX
FTX was then forced to liquidate its reserves in a number of securities including illiquid cryptocurrencies like Solana most notably
Since the securities were already illiquid, FTX could not sell fast enough and Solana collapsed 30% as a result, depleting the value of FTX’s reserves
Just when the whole crypto space looked like it was about to have another liquidity collapse, CZ then steps in to buy FTX for a song!
If this isn’t straight out of the playbook of Rockefeller, Gould, Vanderbilt I don’t know what is
The industrial revolution was the wild wild west. Price wars between Gould and Vanderbilt, Rockefeller buying out all of the train cargo space, corporate sabotage to then buy the corporations is all legendary from the industrial revolution
Titans like Rockefeller would drop prices to a loss, just so he could suffocate and buy up his competition.
Early 1900’s belonged to Rockefeller and Vanderbilt.
2020-2030 will belong to titans like CZ
Early 1900’s belonged to Rockefeller and Vanderbilt.
2020-2030 will belong to titans like CZ
Any other history nuts care to elaborate on the parallels to Rockefeller and da boyz?
Since this tweet is getting so much attention 😂
If you appreciated the perspective of this tweet. Please follow this account for more takes like this
If you appreciated the perspective of this tweet. Please follow this account for more takes like this
ALSO tag someone you think would have a unique perspective on this from an historical or crypto standpoint!
@Jason @chamath @DavidSacks and @friedberg seem to know some business history precedents that would relate.
What y’all think?
CZ’s move today a classic Rockefeller move?
What y’all think?
CZ’s move today a classic Rockefeller move?
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