What's more likely: Tech bro Chuck E Cheese tokens suddenly become worthless... or the US Government suddenly becomes insolvent (despite it's ability to not only print money, but field the world's most powerful military)?
How many more FTX disasters do we need until we've decided crypto is clearly the worse option?
What they did is fraud regardless of the cryptocurrency aspect, and plenty of people in crypto warned against centralized exchanges for decades now because of this exact reason, with MtGox and FTX being the most prominent examples because CENTRALIZED EXCHANGES WILL RUN AWAY WITH YOUR MONEY.
Because ->CENTRALIZED EXCHANGES<- ARE SCAMS.
BTC had NOTHING to do with it, it was just what gullible people fake traded in the exchange. If BTC was used properly and implemented actual Proof of Solvency as per the discussion we're currently having, this whole discussion would not be taking place because the ledger is public. The whole fiasco has taken place because the entire circus operated on "trust me bro we have your money, look we have been audited by a certified auditor ;)", which, in case you haven't noticed, is exactly how the rest of the financial system works.
How many more FTX disasters do we need until we've decided not using crypto as a public ledger is clearly the worse option?
Oh and BTW good luck next time the US doubles the circulating money supply again, but I guess that's ok because they have lots of big ships lol.
This is an odd statement from someone who, I'm guessing at one point or another, said that "value depends on what everyone agrees it is"?