I haven’t heard much about cryptocurrency in a long time, but Molly White is reporting on Bluesky that something is going down over at Binance:
It looks like Binance is getting drained right now, across multiple hot wallets, for $2B and counting. Pretty normal for exchanges to migrate wallets, NOT normal for them to then swap to Tether and dump
I went through a crypto phase around 2020. Made a little bit of money, lost a little too, and got the fuck out of there. It’s a network of Ponzi schemes dressed up in million dollar .jpegs and silly little ticker symbols.
If this is the “future of finance,” that’s pretty alarming. I’ve never seen someone roll up to Huntington or Chase and empty the vault on a Thursday afternoon.
Nothing has been confirmed yet, but it doesn’t look good. That whole scene is just going to get more sketchy as AI advances, imo.
I haven’t heard much about cryptocurrency in a long time, but Molly White is reporting on Bluesky that something is going down over at Binance:
I went through a crypto phase around 2020. Made a little bit of money, lost a little too, and got the fuck out of there. It’s a network of Ponzi schemes dressed up in million dollar .jpegs and silly little ticker symbols.
If this is the “future of finance,” that’s pretty alarming. I’ve never seen someone roll up to Huntington or Chase and empty the vault on a Thursday afternoon.
Nothing has been confirmed yet, but it doesn’t look good. That whole scene is just going to get more sketchy as AI advances, imo.