FTX/Alameda, What Happened?
Too Long; Didn't Read
I think everyone was caught by surprise by the collapse of FTX/Alameda. Why did we end-up where we are now and why did it happen so quickly? Here is my take on it. Back in 2011, Bitcoin was launched. By using cryptography, a network and a monetary incentive, a very secure and transparent form of digital money was created. Cryptography and network made sure that there was no need for a middle man to transfer value from one person or entity to another. The disadvantages of any cryptocurrency are the technical complexity and that the costs involved because of the economic incentives. This never has changed and this will never ever change.