I think this is why CZ tries to save.
The impact would be huge, it starts to undo the narrative and work CZ has been working towards for years.
Competitor yes, but impact on retail, institutions, normies and overall adoption is worth trying to fight to save.
Plus, hero role.
The impact would be huge, it starts to undo the narrative and work CZ has been working towards for years.
Competitor yes, but impact on retail, institutions, normies and overall adoption is worth trying to fight to save.
Plus, hero role.
Or perhaps, if he cared, he wouldn't have pressed the killswitch to begin operations.
But I like to believe the positive side. Impact is monstrous, $ totals may be worth the cost for the calamity it saves.
But I like to believe the positive side. Impact is monstrous, $ totals may be worth the cost for the calamity it saves.
Just think about how this goes down if it's a backout:
- US goes hard given FTX influence there (yes, FTX US but still brand + Sam politics)
- "it's all a scam" narrative heightens
- Anger turns to CZ for "why did you do this" I guarantee it won't be directed to Sam/FTX
- US goes hard given FTX influence there (yes, FTX US but still brand + Sam politics)
- "it's all a scam" narrative heightens
- Anger turns to CZ for "why did you do this" I guarantee it won't be directed to Sam/FTX
- Existing crypto people run away
- New money scared off
- Investment slows down in the space given how many occurrences this year of events like this
The negativity from a "no deal" feels like it can't just have been the plan from CZ, who will turn to villain.
- New money scared off
- Investment slows down in the space given how many occurrences this year of events like this
The negativity from a "no deal" feels like it can't just have been the plan from CZ, who will turn to villain.
CZ knows how bad it is for it to fail, but hands will be forced.
Months of putting out fires and attempting to bring confidence back looks to be an outcome along with a huge regulation backlash.
Very tough, donβt envy the position at all.
Months of putting out fires and attempting to bring confidence back looks to be an outcome along with a huge regulation backlash.
Very tough, donβt envy the position at all.
More discussion on impact today. For those "dip" buyers I think you need to be very aware of just how damaging this situation is and the length of recovery.
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