Poetic Justice?
A frequent complaint in Bitcarnage has been the lack of self awareness of those involved in the crypto V1.0 economy. The metaphoric peak may have been reached this week - for I doubt it was self-irony - when Patrick Gruhn, the Former FTX Europe Head Paid $1.5M For Gold Watch Recovered From Titanic / Former FTX Executive Pays $1.5 Million For Gold Watch Recovered From Titanic (Coindesk / WSJ) apparently with funds from the sales of his companies not from running FTX. The watch once belonged to hapless honeymooner John Jacob Astor IV.
Back in the world of crypto V1.0, more arrests as some folks look likely to stay in jail, not necessarily in Vegas: FBI Busts $43m Crypto And Las Vegas Hospitality Ponzi Scheme (Cointelegraph). Meanwhile, the UK government just confirmed what we knew in 2022: Crypto Firms Among 'Greatest Risks' For Money Laundering In 2022-2023: UK Govt (Cointelegraph).
The once almighty has now turned penitent and finally, we can agree with a CZ utterance: Changpeng Zhao Says Crypto Has Entered New Phase Where 'Compliance Is Super Important' (CryptoSlate) - albeit he has multi-billions of quasi-ill-gotten gains and, it makes you think about the system.
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