@monteluna

I genuinely believe we are going to look back and wish SBF wasn't arrested. He was an awful leader in the space, but at least he pumped it to a billy. What you have now is elitist crypto larps funded by VCs making nonsense protocols that destroy $100M of capital and give salaries to their friends just to get acquihired by big fintech to make corposlop fee harvesting products that no one is actually going to use. At least SBF printed a few millionaires. The current set of projects are only good for getting people who wouldn't get a job in this economy, and making them spend $20-$100 a month to look like they're building something. Then when the organization realizes there's no growth, they just end those systems leaving those teams in the dust. Mechanically, Sam totally stole from wealthy protocols by taking their tokens and making leveraged bets, but he rotated those into new products and allowed these new products to grow with fresh capital. This *actually* did create a more volatile crypto product market, on the downside, and the upside. We may not like it, but that *was* a huge part of the growth of defi summer, and a ton of new projects competed with ossified protocols. Without that rotation, there's no volatility at all. It's just flat rentseeking.

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