https://www.levernews.com/washingtons-32-billion-crypto-scam/
Been listening to the Mario Na
Well, it seems more as if Tate is talking about luxury, which is different from money. And when it comes down to it this guy︀ still lived in a $400m compound and had his own private jet.
Spending your money︁ on influence is probably a better investment than a Bugatti and I think SBFs spending︂ patterns have more to do with intelligence than some kind of inner greed.
Some people︃ want to get rich and some want to build an actual empire. I think SBF︄ & Co just got completed carried away and hell, even I thought two years ago︅ looking at the market with the s**t that was going on that everyone was going︆ to get away with it.
Then ever since the Luna crash it has been a︇ constant spree of regulatory crackdown and Interpol newsflashes
The problem with crypto is people just︈ can't help themselves, I think SBF was a fraudster from the get-go, but in a︉ detached sense. He thought of this as a game and fair game in the wild-west︊ and only soon reality will set in.
He saw an opportunity to get wealthy beyond︋ his wildest dreams, and what might have started with using customer funds to generate returns,︌ take the ROI and then returning the customer funds in a Milken way, went horribly︍ wrong due to the chaotic and unpredictable nature of markets.
I am portraying him a︎ bit too naive now though, I still think he is a cold-blooded sociopath who did️ everything in his power to make money at the expense of others, but he probably truly believed that money was better of with him than the "suckers" who traded against him (his clients).
Once you make a few missteps, you can do some good trades and moves to make the money back, but what happened here was likely that money was funneled off from the get-go so you already start a few % down, eventually everything drained into the abyss in a classic death spiral of overconfidence and stims.
