Crypto Fooled Us Once. It Will Fool Us Again.
Sam Bankman-Fried went from crypto poster boy to criminal defendant. (Photo by Angela Weiss/AFP via Getty Images)
Two new books attempt to explain SBF, FTX, and the crypto craze. Both underestimate the seductive power of fraudsters.
“Picture this: it’s programmable money, available everywhere the internet is. It moves power from unaccountable banks and governments to regular people, on a purely opt-in basis. It builds on cryptography and requires enough fiddly engineering to be catnip to geeks. And if you get in early on it, it will make you fantastically rich.”
I heard that pitch f…
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