Martin Shkreli reassures Do Kwon about life in prison as they discuss FTX and Binance

The big change in the crypto exchange market on November 8th led to a similarly massive wave of commentary. Twitch’s UpOnlyTV channel has benefited from this activity, with Do Kwon and Martin Shkreli appearing at the same time, and his relationship between Binance CEO Changpeng Zhao (CZ) and FTX CEO Sam Bankman-Fried (SBF). We talked about the deal regarding the purchase of FTX.

Before being convicted of securities fraud, Shkreli, who was sometimes referred to as “Pharma Bro” for his role in the industry, wondered if a deal between Binance and FTX would work. “I think it’s a hole [FTXs balance sheet shortfall] It’s much bigger than people think, and I think it’s quite possible that Binance will pull out.

After Terra Labs launched the TerraUSD (UST) stablecoin (now known as TerraUSD Classic (USTC)) and suffered a catastrophic collapse in May, Kwon is confident in the deal. , said:

I assume the sale price is a reasonable discount compared to the private round of funding rounds, but if CZ steps in and completes the user, he [SBF] You will be in meaningful pain. He will probably move on to something else.”

But when asked if he would invest in SBF’s startup, Kwon objected. “I’m not much of an investor,” he said. “I think it’s too early to say.”

Kwon said of his “courage and persona” role in the fall of Terra/Luna: In fact, my real life and my appearance on Twitter are quite different. [] There is value in being funny and funny.

“Well, Do moves even further down the list of villains this year,” admitted Evgeny Gaevoy, CEO of Wintermute, another guest on the show. I wonder if it’s not bad anymore [] He was a little cocky, but it doesn’t matter.”

Another guest called him “frankly a sociopath,” adding, “I’m not a big fan.”

Live stream commenters were no longer lenient. “Dukwon must pay for my loss,” wrote another. “SCAM KWON TO JAIL.”

Kwon did not respond to the speaker, but later said: I think the notoriety makes it really hard for them to speak up in defense of what happened to his UST, but for people we’ve worked with for a long time, I It was an opportunity to show our character and good intentions.

RELATED: Binance’s FTX Acquisition Seen As Chess Move By Crypto Community

Shkreli sees the current situation as a low point, stating:

“If the whole banking system got drunk and high, what would happen? There are real adults in real bank rooms, and it may or may not be because of regulators.” .”

Shkreli criticized Binance for repeating baseless rumors, saying, “The biggest problem is that we don’t know what Binance’s balance sheet looks like. Why do we trust these guys?” is it? [] It is an appendage of the Chinese Communist Party.

– FTX Secretly Goes Bankrupt
– BTC is testing new lows
– Alameda Toast
– Binance plans to acquire FTX
– FTT down 80% towards 0
– CZ Announces Proof of Reserves
– Suzhou reappears
– Do Kwon and Martin Shkreli of UpOnly
– Coinbase temporarily down

How was your day at the office?

Yassine Elmandjra (@yassineARK) November 8, 2022

However, Shkreli took pity on Kwon and told him:

“I just want to tell you that jail isn’t that bad. It’s not the worst thing ever, so don’t worry. I hope it doesn’t happen. But if it does, it won’t be that bad.” There is none.”

Kwon responded, “Good to know,” despite starting the conversation on the podcast by saying, “I don’t think I’m on the run.” He did not disclose his whereabouts.