![]() One category of operation-companies like Coinbase Global ( COIN), which went public in April, and Gemini, founded by Cameron and Tyler Winklevoss in 2014-have set up U.S.-based operations that attempt to comply scrupulously with U.S. ![]() Two approaches to cryptocurrency exchangesīasically, we’ve seen two approaches to cryptocurrency exchanges so far. Despite Bankman-Fried’s increasingly mainstream acceptance and considerable personal charisma-he’s become a frequent guest on cable business shows and also appeared on Yahoo Finance-what he’s doing is dicey. Still, the book isn’t closed on whether Yedidia’s original instincts were foolish or not. That valuation was 18 times higher than it had been 17 months earlier, at FTX’s first-round fundraising in February 2020. Last month, FTX-of which Bankman-Fried owns nearly 60%-completed an industry-record $900 million fundraising at an $18 billion valuation. (Yedidia finally joined Bankman-Fried at FTX this past January.) His riches stem from both the trading firm Yedidia took a pass on, Alameda Research, and from a Hong Kong-based cryptocurrency futures exchange, FTX, which Bankman-Fried started up in mid 2019. Though such estimates are fuzzy-many of Bankman-Fried’s digital assets are illiquid, of speculative value, and just plain weird-his sudden prosperity appears to constitute one of the fastest accumulations of self-made wealth in history. ![]() Four years later, he is a billionaire 16 times over, according to a recent Forbes estimate. “I was convinced it was a bubble.”īankman-Fried, now 29, went forward anyway. “I was sort of like, this crypto thing seems pretty scammy,” Yedidia recalls.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |