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Bankrupt billionaire and FTX founder Sam Bankman-Fried is finally arrested (Report, FT.com, December 13). It reminds me of a Chinese idiom. When the lips are gone, your teeth will be exposed to the winter cold.
FTX rival Changpeng Zhao of Binance, according to a recent Reuters report, is being investigated by the US Department of Justice for possible money laundering. The boss of the largest crypto exchange must be wondering if a truly decentralized exchange could better serve crypto users.
While bitcoin is struggling to recover at $17,000, Dogecoin could drop further below $0.08. Elon Musk is rumored to be tossing a coin on Twitter and poor Dogecoin is looking more and more like a Cinderella being bullied by a mean stepmother. However, there is still a silver lining. Perhaps this is good news for the $258 billion Dogecoin class action lawsuit.
How long will the crypto winter last? A long, cold winter is inevitable for bitcoin and dogecoin holders. However, according to Chinese belief in yin and yang, the winter solstice which falls on December 22 marks the beginning of a slow turning point.
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