Lao Bai|Mar 15, 2026 13:03
Feels like the chances of SBF being pardoned are pretty slim. After all, in a country like the U.S. that places so much emphasis on finance and regulation, committing something as serious as 'massive misappropriation of client assets' is basically crossing the red line.
That said, I have to admit I’m absolutely in awe of SBF’s abilities and investment vision. It reminds me of the phrase 'genius to the left, madman to the right.' He’s undoubtedly a mix of both genius and madman.
I can’t remember if it was the end of 2018 or early 2019, but before FTX launched, I recall there was a semi-official OTC+RFQ system where you could buy FTX tokens (FTT) in advance for just a few cents. I didn’t understand it at the time, so I didn’t buy. Then I watched it skyrocket over the next two years to over $70, multiplying by 100-200x…
Aside from his unbeatable vision, connections really do matter. SBF being able to invest in Anthropic probably had a lot to do with his ties to top-tier circles on Wall Street and in Silicon Valley. I vividly remember a similar example in our space with Ethena. When they were fundraising, a bunch of Asian VCs didn’t even know about it or couldn’t get in. Only a few core VC players in the Western circles had access to that deal and could wire the money. You need to understand it + have the money + have access + have them willing to take your money. You can’t miss any of those four.
Still, I’m looking forward to the next 'SBF' who can bring something new to the crypto space!
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