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Binance Blasts "Rogue Actor" Bankman-Fried As FTX Files For Bankruptcy

https://www.zerohedge.com/markets/ftx-f ... esigns-ceo

Update (1250ET): While you don't have to throw a stone too far to find people that are pissed off at Bankman-Fried, Binance strategy chief Partick Hillman has more than few choice words for the Dem-Darling crypto once-billionaire...

"This is the direct result of a rogue actor breaking every single basic rule of fiscal responsibility," Hillmann said in a statement to the Wall Street Journal.

"While the rest of the industry operates under an extreme measure of scrutiny, the cult of personality shrouding FTX allowed them a dangerous level of privilege that wasn't earned," he added.

Notably, Binance has long complained that it has received more scrutiny, including from the media, than FTX.

FTX opened a back door via Justin Sun's TRON Network: https://help.ftx.com/hc/en-us/articles/10739365280276

insiders can exfiltrate $12m per day through it

Greed is powerful.

It is powerful. That's why people flock to buy lotto tickets.

Americans have been programmed since the Reagan years not to listen to bad news or think of negative outcomes. The powers that be saw what happened in the 1970s after Vietnam. They sealed off the societal malaise, bottled it, and released it into the nuclear family, but fortified the intel, defense, and propaganda industries to keep Americans in a perpetual stupor.

Long story short, we're children, mentally. And this applies to most people, even Boomers. Nobody alive has any clue what living through something like World War II entails for ordinary people caught in the middle of it. Americans were insulated from the war except for telegrams and a knock at the door.

We can call them idiots, but the truth is, their mental model of the world does not include most of human history and the lessons learned from it. It's like trying to explain days of the week to a dog.

The belief that anything proven to be worthless still has value to another idiot.