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Le fiasco de FTX est “un cadeau pour les détracteurs de Bitcoin”.



Dans un long fil twitter, le cofondateur de Kraken, Jesse Powell, a laissé s’exprimer s’exprimer une rage froide face à la séquence cataclysmique FTX/Alameda. Without ever citing them, other than the name of the deceased party, Sam Bankman-Fried, one of the historical figures of the ecosystem evokes “a massive reversal” for the crypto industry, which she would like to retire, but she assures him, especially in the face of the overdue coups de boutoir of the regulators.

Kraken’s ex-PDG assumes SBF and its accomplices.

Jesse Powell is not one of the year’s losers. He is the co-founder of the Kraken exchange platform, created in 2011 and launched in 2013, in response to the disastrous management of the Kraken phare de l’époque (forcément, il n’y avait pas vraiment d’autres), Mt Gox. Celui-ci, déclaré en faillite en 2014, revient à la une presque 10 ans après parce qu’il va ” honorer “. at least partially, his creations to the users.

Mais pour en revenir à ce qui nous préoccupe, il faut savoir que le vétéran Powell a d’emblée eu une conception plutôt carrée de ce que devait être un lieu d’échange Bitcoin (les altcoins viendront plus tard). Ses maître-mots : la fiabilité et la sécurité, rarement prises en défaut tout au long de son histoire, la plateforme étant l’une des seules à ne jamais avoir connu de piratage, seulement quelques extravagances de mèches rebelles et autres péripéties plutôt plutôt vénielles.

In fact, in the face of a sequence like the FTX fiasco, which he undoubtedly thought to be linked to the whirlwinds of crypto history, the former PDG of Kraken, but who continues to work in his seat as president of the company’s board of directors, sees red. With the greater freedom of expression to which he visibly aspired, he did not hesitate to describe Sam Bankman-Fried, without naming him, as “a man of the cloth”. clown ” et d’ ” escroc “en dressant un portrait au vitriol.

Il s’agit d’insouciance, de cupidité, d’intérêt personal, d’orgueil, de comportement sociopathe qui amène une personne à risquer tous les progrès durent gagnés que cette industrie a emportés au cours d’une décennie, pour son propre gain personal. All this while being already rich in HF. “

Jesse Powell south Twitter

La responsabilité des fonds de capital-risque et des médias dans le fiasco de FTX.

Mais loin d’incriminar uniquement le jeune impétueux qui s’est cru très vite le roi du monde – devenant moins d’un an après son apparition sur la scène vers 2018, le visage de la crypto avec sa tignasse ébouriffée et ses traits poupins – il pointe la responsabilité de ceux qui ont fait monter la mayonnaise. And first and foremost, all these companies of capital-risque, these venture capital (VC ) who have accompanied him in his greening, to take advantage of the crypto market’s ebullience, without respecting the strict rules to which it should ideally respond to any investment.

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The media are no longer unattached, always ready to give up new heads to make icons of the contemporary scene, in the occurrence there, that of the “new economy”. Et dans ce registre, the crypto sites have not been the last to encapsulate this “young millennial generation”.SBF as an acronym of recognition that has consecrated its popularity, which made them laugh so much, shouting very quickly at the bottom of their pantheon in nourishing their storytelling preferred, mêlant scénographie ostentatoire du visionnaire incarnant pleinement l’esprit du capitalisme technologique.

Figure of entrepreneurial heroism, succeeding in rising above the masses at the price of hard work (ah! these photos of Sam sleeping on a mat thrown to the ground in the middle of his offices) and above all of a shrewd audacity.

The VCs, the media, the “experts” have been thrown out. People have set fire to their own reputation by taking responsibility for individuals, projects, companies that they had not been diligent about. The retail trade is watching you, assuming that you have done your job. You have the duty to be critical and to withhold industrial praise.. “

Jesse Powell south Twitter

Détresse des petits investisseurs et effet domino.

But beyond this fact, what Jesse Powell points out clearly, is that the megalomania of a single individual, maintained by (almost all the others) suffices to ruin the efforts of years of work that he and others have produced in order to make crypto. The losses are immense: all the “small” investors who may never get their money back, and whose outrageous loss suffices to shatter an already fragile confidence in the crypto ecosystem,

Je prie pour tous ceux qui se sont retrouvés pris dans ce pétrin. I hope that this will not discourage you from cryptography. I hope that you will take care of yourself and that you will continue to be part of this community. These are growth pains. The money can be earned again. Stay with me. “

Jesse Powell south Twitter

Et il y a the redoutable ” domino effect ” in a highly interconnected universewhich risks to increase the risk of ravages. The still vivid and vivid memory of the collapse of Terra, which has triggered a series of faults that has announced the cryptographic investment company Three Arrows Capital and lenders such as Celsius, Voyager Digital and several other stories where SBF has played the role of savior, finally not the required, finally the two … risk to reproduce itself. But we are warned, finally we believe it, for les mauvaises surprises se font en général attendre.

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Néanmoins, le temps n’ayant pas encore accompli son oeuvre d’oubli, nombre de sociétés crypto ont devancé l’appel et déclaré leur exposition, ou pas, à FTX et/ou à sa société soeur Alameda. Others, such as Sequoia, Galaxy Digital and BlockFi, which would have discovered the disaster on Twitter (!!!), have opened the tainted companies’ balance sheet.

Responsibility of regulators and policies in the FTX fiasco

Dans ce séisme qui secoue le monde crypto, Jesse Powell does not forget to point out also the négligent disinvolvement of regulators. dans le fiasco de FTX, à l’instar d’un Gary Gensler, patron de la Securities and Exchange Commission (SEC), qui a souvent répétété que les lois financières en vigueur suffisaient pour encadrer la crypto.

American legislators and regulators also have a share of responsibility. You have driven this company abroad because you have refused to provide a viable regime under which these services could be offered in a supervised manner. The application of the law concentrates to torture on good local and practical actions.. “

Jesse Powell south Twitter

N’oublions pas que SBF had his entrances to Washington and that he was today more than a political leader, benefiting from his generous gifts..

Car oui, le jeune prodige a eu des largesses de prince, notamment avec les auteurs du projet de loi sur la réglementation crypto qu’il soutenait, the Digital Commodity Consumer Protection Actgiving the Commodity Futures Trading Commission (CFTC) more regulatory powers over the sector. Beyond that, however, it has also harassed the main political groups, notably the National Democratic Committee, the National Republican Congressional Committee and the Democratic parties of the States throughout the country. And lastly, on the occasion of the elections of my mandate, the famous “Midterms”.

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Erreur – No article

The coupons are on the way out and the crypto industry risks paying more for the pots that have been cased.

In fact, the couteaux are sortie and aiguisent leurs lames.

Maintenant plus que jamais, il est clair qu’il y a des conséquences majeures lorsque les entités de cryptomonnaie fonctionnent sans une surveillance fédérale solide et des protections pour les clients. This week’s news further underlines the urgent need for legislation.. “

Déclaration by Maxine Waters, Chairman of the House Financial Services Committee of the United States House of Representatives.

On the European side, the FTX system is no longer inactive, giving the opportunity to valorize the MiCA regulation as a model.

It will not be long before the regulatory requirements for centralized cryptographic companies to keep client funds in segregated accounts in a manner that is precautionary of the penalties preventing their use for the company’s own accounts becomes the worldwide standard. Welcome to the EU with MiCA. “

Patrick Hansen, directeur de la strategy Europe chez Circle, in. Twitter

It is not a question here of discussing the relevance of a regulatory offensive that risks throwing red herrings on everything that resembles near or far from crypto. It is enough to remember these banks, supposedly too big to make a mistake, which have played with the money of their customers and which, despite a strict regulation, have made them lose all their assets.

Quoi qu’il en soit, the FTX fiasco is a boon for crypto traders, Bitcoin in particular, the most known, the most attacked, the most incomprehensiblebut also the most dangerous for those (they are more and more numerous) who tremble at its incensurable nature.

” Une implosion d’échange de cette ampleur est un cadeau pour les ennemis de Bitcoin partout dans le monde. This is the excuse they were waiting for to justify the attack they kept in their back pocket. We will work to defy this for years to come.

Jesse Powell south Twitter

Préparons-nous encore à de beaux jours.

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