Bankrupt billionaire and FTX founder Sam Bankman-Fried has finally been arrested (Report, FT.com, December 13). It reminds me of a Chinese idiom. If the lips are gone, the teeth will be exposed in the cold.
FTX competitor Changpeng Zhao of Binance is – according to a recent Reuters report – being investigated by the US Department of Justice for possible money laundering. The leaders of the biggest crypto exchanges should think that a truly decentralized exchange can be better for crypto users.
As bitcoin struggles to recover to $17,000, Dogecoin may fall below $0.08. Elon Musk is rumored to be issuing Twitter coins and the poor Dogecoin is increasingly like Cinderella – haunted by an evil stepmother. However, there is always a silver lining. Maybe good news for the $258bn Dogecoin class action.
How long will the future of crypto last? A long and cold winter is inevitable for bitcoin and Dogecoin holders. However, according to the Chinese belief in yin and yang, the winter solstice – which falls on December 22nd – is the beginning of a slow turning point.
Khaw Wei Kang
Macau