This was surprising to me, and yet also not surprising. The level of greed and leverage is insane in this industry.
But I think it just strengthens who we are. Non-custodial. Trusted. Easy to use. Compliant. Social.
We’ll be on eth as primary but also be able to leverage BNB.
Ride the waves…
Trust and transparency is needed now more than ever in crypto. Perfect time for Bamboo.
It seems like this is a reset and maybe a cleansing of the industry. Hopefully Bam can seize the moment and live up to its fundamentals.
To be clear neither myself personally, nor Bamboo Asset Management, or any of the DAO’s funds are at risk from the latest contagion events (at least from a centralized exchange perspective).
I personally was a user of FTX.US as well as used it as a transit point for BAM funds, and immediately withdrew all funds the moment I heard the slightest rumors.
Not your keys, not your crypto!
It might be time to remember the reason why Bitcoin and in a larger sense Crypto was created in the first place and experienced this monumental growth.
After the 2008 financial crisis and the Greece financial turmoil, most of us were sick and tired of the financial aristocracy playing with our money. The bank execs either got richer, or lost their misappropriated customers’ funds, but faced little to no consequences for their action.
It seems the crypto space has fostered many players with a similar reckless mindset and put them in positions of leadership, just with fewer guardrails in place. Or to paraphrase Tolkien: “Instead of a coked-up Wallstreet Trader you shall have a keyboard warrior on Meth! All shall love me and despair.”
Being the adult in the room and having things actually figured out before half-heartedly implementing them only to follow with the walk-back of shame (like some other tech-leaders cough Elon) could be a highly sought play going forward.