A few weeks ago, we pointed out that the stablecoin Tether (USDT) exhibited some worrying signs, including a delay on its pledge to fully provide accounting for and revealing its mechanisms and backing for maintaining its “1 to 1” peg to the U.S. dollar.
The fact that Sam Bankman-Fried is still walking free is a sign of just how up to their ears political and financial elites, as well as the MSM, are in the FTX scandal.
One thing has been clear during the extended crypto downturn and shakeout of projects: private permissioned blockchains are faring worst of all.
Some are noting that Tether (USDT), one of the largest crypto “Stable coins,” has not yet come through with a long promised audit of its books and precisely what levels and kinds of backing underlie its token.
While the Biden Administration touted its “all of government approach” in crafting crypto policy and CBDC plans, its regulators were turning a blind eye regarding monitoring FTX.
Will investment and further development in legit crypto innovations and efficiencies—and the portfolios of current investors—suffer long term, as a result of the FTX debacle?
Why hasn’t Sam Bankman-Fried been arrested? Good question.
Innovation requires a certain amount of freedom and incentive. Perhaps that’s why China has to engage in such massive IP theft around the world.
Some people—mostly creators—like the fact that NFTs can be created with royalty features built into the NFT.
Crypto true believers often express support for the technology based on how it managed to remake financial interaction and integrate commercial activities into apps and software in a decentralized way, independent of traditional players and intermediaries.