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Prolific podcaster and crypto investor Anthony Pompliano hasn’t lost faith in people or the crypto industry despite the disappointing behavior of former FTX CEO Sam Bankman-Fried.
Bankman-Fried was once widely regarded as the “white knight” of cryptocurrency, but his “careless” mishandling of FTX’s customer funds and his continued bizarre behavior on Twitter led to It is now a pariah in the cryptocurrency industry.
Appearing at the Texas Blockchain Summit on Nov. 17, Pompliano was asked about how to ensure quality representation in the “hall of power” and said market forces would weed out bad people as quickly as bad business. I answered.
It may be a little counterintuitive, but the free market is a hell of a referee. [] CZ is the one who used market forces to take over the company. [FTX] down,” he said.
At the end of the day, judges, juries and executioners were the free market, the industry itself.
Pompliano continued, “The good people survive and the bad people end up being washed away.”
Visit anytime and enjoy the great state of Texas, where citizens understand the importance of private property, personal defense, and economic freedom. pic.twitter.com/5POeuSDuex
Pump (@APompliano) November 17, 2022
Pompliano said on CNBC on Nov. 15: I don’t know what’s going on.”
Pompliano added that he makes money on the FTX platform and has advertising relationships with crypto exchanges.
Related: Cryptocurrencies Will Create More Wealth Than The Internet, According To Morgan Creek Capital CEO
A bitcoin aficionado, Pompliano founded North Carolina-based Morgan Creek Digital Assets in 2018 with Mark Yusko. He also runs his Pomp Crypto Jobs website. He drew attention by saying that the pseudonymous Bitcoin creator Satoshi Nakamoto deserved the Nobel Peace Prize, advocated for the inclusion of cryptocurrencies in pension funds, and said that the energy consumption of cryptocurrency mining was “one of the world’s most important things.” It uses energy,” he scoffed.
Morgan Creek Digital Assets was reportedly putting together an alternative to BlockFi before FTX invested $680 million in BlockFi as a bailout in July.
