Source: https://www.linkedin.com/feed/update/urn%3Ali%3Ashare%3A7002004530175352832
#FTX #Crypto View from the Bahamas Frontlines, the #CBDC #Pioneer:
https://lnkd.in/emEsdYEf : #CEO #Expert #Paper for #Bahamas e-#Government: #Building National #Crypto #Information #Technology #Infrastructure: https://lnkd.in/evwam4y : Author Dr.-Eng.-Prof. Yogesh Malhotra, as #ManagingDirector retained to Build $Billion #AI-#ML-#Crypto-#BlockChain #Excellence #Center:
Business Insider: GIBC Digital Welcomes Leading Machine Learning and Artificial Intelligence Expert to Lead Its Data Center in Grand Bahama: https://lnkd.in/eXaUhCGR :
FTX’s meltdown earlier this month stunned many on the island. Amid the rush of investors scrambling to “offload” their investments among Bahamians who lost money in the collapse, Bahamas local radio stations now deride #bitcoin as “#FunnyMoney and funny transactions that you should not get into anymore.”
The FTX scandal is “a blow both to the industry and … the Bahamas itself… A lot of people who were on the fence, or skeptical before this, probably now see it as a #scam.”
It’s also led people who met #SamBankmanFried (SBF) early on to reevaluate the image he’d created. A #Crypto #venturecapitalist who reviewed #SBF’s business in 2018 while his firm considered investing, remembers employees saying that SBF compared #crypto #trading to a #video #game: He referred to his equity in Alameda — millions of dollars in profits used as capital for new trades — as a “hit points bar,” a term for the shrinking progress bar that shows how much damage a character has endured. “As long as it didn’t go much past zero, our #backers wouldn’t have to know about it… They would just treat it as this #game of #risk-taking. They would make some and then they would #lose it.”
Crypto: A #HouseOfCards?
His co-founder of Alameda who quit a year later because of concerns over his business ethics and appetite for risk, recently shared that she was shocked, appalled, and frankly, angry. BTC was birthed from the trauma of 2008. Sam’s actions are a perversion of everything #crypto stands for. [What does it really stand for if anything at all: blockchain, crypto protocols, smart contracts, FinTech, DeFi, Web3, all but for #cryptocurrencies, the latest #crypto #distraction invented by those proclaiming #financial #equity, #inclusion & #empowerment for all while in fact preying on #global #trust and destroying life-time #savings of #believers who fall for their meaningless ‘#shibboleths’ https://lnkd.in/eXExGQz8 – #grandstanding greatest #altruism for #humanity devoid of any #MEANING… annihilating global #DigitalTrust in the so called fad about #cryptocurrencies].” Asked about his #ethical #commitments, Sam-Bankman-Fried equated them to a “dumb game we woke Westerners play where we say all the right #shibboleths and so everyone likes us.”
Silicon Valley’s Next Big Thing™: CEO-CxO Know-Build-Monetize™ Networks: Join The CEO Metaverse™:
Global Risk Management Network, LLC: Future of AI-Computer Science-Data Science-Finance Are All Here
