FTX

The idea that they wouldn't put in a public report doesn't give them any competitive advantage.

There are these big moments like the FTX crisis a few years ago where all of a sudden public employees across the country are finding out their pension fund was invested in FTX and they had no idea.

And it's because there is almost no transparency around private investments, right? So pension funds will issue a quarterly report, sometimes a monthly report.

This is here's the PE funds that we've allocated money to.

And it's a fair trend.

You know, we don't have to go that far back for FTX, where there were huge frauds and lots of problematic stuff with the crypto industry.

And you see that especially across the board with some of how the administration is handling cryptocurrency.

They want to be ahead of the crypto capital of the world.

What's his name? Sam.

The FTX kid.

not Altman's.

Oh yeah.

The sheer doggedness of her denial and stonewalling.

Whereas SBF, in all of the public stuff he did as FTX was falling apart...

He was going on length.

I mean, that guy is a yapper.

Follow the money.

In my opinion, what's happening with Binance and what happened with FTX.

And y'all remember, right before they declared bankruptcy, Bankman Freed assured all of the customers are fine.

There's plenty of money for everyone to withdraw and do everything and move on accordingly.

Next day, sorry guys, I just filed for FTX bankruptcy and best of luck getting your money back.

You know, meanwhile, he was too busy with the grippy from Mississippi.

He got distracted.

If I'd done that at Fidelity, I'd have been walked out the very same afternoon, end quote.

He says 2026 digital asset industry is very different from the last time Democrats held the gavel pointing to its growth from FTX and a bunch of tokens in 2022 to a federal law for stable coins, treasuries and credit funds on chain and tokenized equities on the way.

Quote, you don't regulate that by pretending it doesn't exist, end quote.

The industry may also have to accept more demanding standards if it wants legislation that can survive changes in political control.

And there's another thing people don't remember about 22, which is everyone like everyone with money at that point was in crypto like 2021.

And well, no, actually until until until FTX crash.

So that that was like this massive event that just annihilated like the culture of San Francisco at the time and then paved the way for the rise of like the culture to replace it, which came really quickly after that.

But there was this between most of 22.

While everybody's running out of the burning building, you want to run in.

And I learned this back in crypto when they told me with FTX collapse and with all different collapses that it's going to zero and it's going to zero.

And so many times, I ended up losing money because I traded or I didn't buy when it was the best opportunities because I believe the FUD.

And right now, all the FUD is about these data centers and AI and how now that the Democrats are in, they're going to shut those down and that's going to stop.