The Bitcoin Hype Is Back and About Just as Hollow as Before

[Gunnar Larson]

The Bitcoin Hype Is Back and About Just as Hollow as Before
https://www.bloomberg.com/news/articles/2024-01-18/bitcoin-price-surge-masks-same-old-concerns


Bitcoin mania seemed pretty much cooked last fall. Sam Bankman-Fried, the
former chief executive officer of crypto exchange FTX, was convicted in
November of orchestrating a massive fraud, and a few weeks later, Changpeng
Zhao, co-founder of FTX rival Binance, pleaded guilty to federal money
laundering charges and stepped down as CEO. With two of the wealthiest and
most admired figures in the industry likely on their way to prison for
crimes related to the basic operation of their respective company, the
notion that any sane person would still choose the crypto roller coaster
over the conventional financial system seemed close to unimaginable.
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