[ad_1]
© Reuters
Long before (BTC), Bernie Madoff was at the top of the longest and largest fraud in history. The real-time rise and fall of Sam “SBF” Bankman-Fried, former CEO of crypto exchange FTX, has been accelerated by comparison. Although the similarities run deep, the storyline is not: creating organizations under false pretenses, developing relationships with people in positions of authority, defrauding clients, surviving as long as possible, and trying not to get take.
Madoff’s advisors experienced a “liquidity” problem in 2008, around late November and early December, where the fund was unable to meet redemption requests from clients. At first glance, the timing of Madoff’s Q4 crash over a decade ago looks eerily similar to FTX’s implosion in 2022. Bitcoiners who hold their keys will never experience a “liquidity problem”, because their bitcoin is not used to leverage anything else. It is the most difficult money as long as it remains in the custody of its rightful owner.
Market capitalization of Bitcoin from 2013 to 2023. Source: CoinMarketCap
Kenneth Minesinger is a professor of law at California Baptist University. He earned his JD from Western State University College of Law after completing his undergraduate career at California State University at San Bernardino.
Dr. Riste Simnjanovski is a professor of public administration at California Baptist University. He obtained his doctorate at the University of La Verne.
Continue reading on Coin Telegraph
|
Sources 2/ https://news.google.com/__i/rss/rd/articles/CBMihQFodHRwczovL3d3dy5pbnZlc3RpbmcuY29tL25ld3MvY3J5cHRvY3VycmVuY3ktbmV3cy9mcm9tLWJlcm5pZS1tYWRvZmYtdG8tYmFua21hbmZyaWVkLWJpdGNvaW4tbWF4aW1hbGlzdHMtaGF2ZS1iZWVuLXZhbGlkYXRlZC0yOTc4NjI00gGNAWh0dHBzOi8vbS5pbnZlc3RpbmcuY29tL25ld3MvY3J5cHRvY3VycmVuY3ktbmV3cy9mcm9tLWJlcm5pZS1tYWRvZmYtdG8tYmFua21hbmZyaWVkLWJpdGNvaW4tbWF4aW1hbGlzdHMtaGF2ZS1iZWVuLXZhbGlkYXRlZC0yOTc4NjI0P2FtcE1vZGU9MQ?oc=5 The mention sources can contact us to remove/changing this article |
[ad_2]