Angel investor Balaji Srinivasan It talks about the collapse of the exchange FTX. Should be treated as “failure state preview”. He warned that one day U.S. dollar bank accounts “may be frozen or puffed up to nothing”, stressing that authorities “would be uninterested in prosecuting them.” Srinivasan warns:
His FTX by Balaji Srinivasan, the failure of the nation, the depreciation of the US dollar
His Balaji Srinivasan, an angel investor, said in a series of tweets on Saturday that the virtual I commented on the collapse of the currency exchange FTX. Srinivasan, former CTO of cryptocurrency exchange Coinbase and his partner at venture capital firm Andreessen, General of Horowitz (a16z), is also the author of the WSJ best-selling Network State.
“Treat FTX as a harbinger of national failure,” he wrote, adding:
It can be frozen or inflated to worthlessness. Authorities will not be interested in prosecution — they ordered it in the first place. That world is coming and we need alternatives.
An angel investor explained in another tweet: “Our space will be prepared. We know what it looks like. And a system that minimizes our trust will be the world’s life raft.”
Many people on Twitter agreed with Srinivasan, saying that Bitcoin and decentralization are the answer.
However, some disagree with this entrepreneur saying that he FTX is a scam and Ponzi he is a scheme. “It’s not a harbinger of national failure. It has nothing to do with it. It’s just a scam,” wrote one. “How can you equate a 32-year-old crook with no control, structure, system, or board to the US government?” Another question. A third comment was, “It is misleading to compare the regulated banking industry with unregulated cryptocurrency exchanges.”
Srinivasan said in another tweet on Saturday that inflation We also commented on Bitcoin as a hedge against Angel Investor Details:
This is a hedge against hyperinflation, currency depreciation, bank freezes and wealth seizures. It has already proven its role in places such as Venezuela, Lebanon and Nigeria. “Standard” inflation may eventually have a gold-like role, but it will be decades before that is shown.
Image Credits: Shutterstock, Pixabay, Wiki Commons