CZ Comment On Crypto Bailouts, Why Some Projects Shouldn’t Be “Saved”

Binance CEO CZ has argued that crypto firms that have been poorly managed, poorly operated, or have released poorly designed products should be left to crumble. Binance founder and CEO Changpeng “CZ” Zhao argues that “bad” crypto projects should be left to fail and not receive bailouts from crypto firms with healthy cash reserves. In a June 23 blog post, CZ said that firms that have been poorly operated, poorly managed or have released poorly designed products shouldn’t receive bailouts — and should instead be left to crumble: “In short, they are just ‘bad’ projects. These should not be....

Bitfinex’s “bail-in” scheme after a major theft raised questions regarding its risk and fund management. What can we learn from the recent bail-in event? To answer, a look at the result of the bail-in, and how it differs from central bank bailouts is necessary. With central bank bailout schemes in place around the world, many who are new to the concept....

The commissioner made it clear she does not support bailouts for anyone in the crypto industry, arguing it's better to “let these things play out.” Securities and Exchange Commission (SEC) commissioner Hester Peirce has spoken out against crypto company bailouts, arguing it’s actually better to “let these things play out,” to create a more sustainable industry. Peirce, the most pro-crypto commissioner for the United States SEC, told Forbes that the recent crash in crypto, though painful, is separating strong companies from the weak.“When things are a bit harder in the market, you discover....

Following the controversial bank bailouts and Troubled Asset Relief Program (TARP) in 2008, reports show in late 2019 and 2020, the U.S. Federal Reserve participated in providing trillions of dollars in secret repo loans to megabanks. At the end of March, investigative journalists, Pam and Russ Martens from Wall Street on Parade, uncovered $3.84 trillion in stealth repo loans from the Fed to the French financial institution, BNP Paribas in Q1 2020. Additional data indicates that the U.S. central bank leveraged secret repo loans to provide a whopping $48 trillion to megabanks in late 2019....

At this point in time, Maidsafe is still in the process of raising Bitcoin in their safecoin presale. Safecoin can be “saved” by sending BTC to their address, which will then guarantee you a certain amount of Maidsafecoin. Once the SAFE network is fully released (date still unknown) Maidsafecoins can be exchanged 1:1 with Safecoins. At that point, “farmers” will also be able to generate Safecoins by dedicated portions of their computers’ resources in a new breakthrough called “proof of resource.” For more information about the promise of Maidsafe, read their whitepaper. It is worth noting....