Crypto people of the mighty mighty Publish0x,  we love you, and your long term winter defying stance on saving mankind from the evils of Fiat! 

The Financial Times has finally jumped into crypto coverage with gusto, wielding a bloody pen as they kick & fight to hold onto control of the old fiat world.  TBF we agree that the Luna debacle is tragic ( but still comic!!!) but man we are impressed with the FT's character assassination dumped on Do- wait is that now pronounced "D'oh???

Wall Street character assassinations are a long standing tradition.  We used to laugh our ass off - no matter WHO you were, we could find five established, respectable players that would testify that yer a cretinous microcephalic unhinged immoral unethical idiot ( whatever that translates to in today's PC language. )

The FT assembled an amazing bunch of negative insights, but the STAR is  D'oh Kwon quotes aging like spoiled milk.   The funniest?  An embarrassment of riches really, hard to choose...

Hey D'Oh!  Can you spit hubris?  sure you can, talk about your shitcoins!! 

" Bow before the king"  - " the oldest and most widely used stablecoin"  wow what is it three- four  years old? 

Hey D'Oh!  Where is the extra $300mm  yer coughing up for reserves coming from?  "Your mom, obviously." 

When a Brit economist ( Frances Coppola, not named in the FT article ) said self-correcting mechanisms fail during panics ( yessir, we still have scars from "real time dynamic hedging" failing miserably during the 1987 crash) -

D'oh's response

" I don't debate the poor on Twitter, and sorry I don't have any change on me for her at the moment." 

Ya gotta hate D'oh ( the most hated man in Seoul) even while laughing, he set the crypto world back years with his ( and Novogratz and any number of other shilling crypto bros') BULLSHIT.    His online "cult"of Lunatics prided themselves on being arrogant arseholes.

not in the FT, but rather from business insider, we have Do feeding the Lunatics while the ship was going DOWN....

 Apparently calling everyone poor beats, we dunno,  analysis and work/coding, years of battle testing,  and of course, reserves, and NOT BEING TOTALLY F_CKING CENTRALIZED  ( even in all decision making ) Ponzi crookery.   Yeeeeah baby, set the returns at 20% and then don't cap the inflow, have no real reserves, chit Bernie Madoff ran a MUCH better Ponzi.  It was only a matter of time sure before the death spiral!!!     

But of course, the FT then goes too far in their crypto hatred.  They imply terra / luna is dead, gone & dusted.   They tug at heartstrings with the story of single moms borrowing to invest for 20%.  THEN they try to conflate CZ Zhao as a "high profile casualty."  CZ invested 3MM, it turned into 1.6 billion $$$ of Luna appreciation and Terra "interest," which crashed to $2,500, and CZ tweeted "Poor again."  Which is a freaking JOKE, FT, an actual attempt at humour.    Forbes put CZ's net worth at 15 billion back in May this year, WE THINK HE'S STILL AAIGHT, FT writers.  Go back to your one room walkup flat.  

Actually the Binance story is quite funny.  Binance never touched a single penny of the Terra investment ( in fact CZ bragged about his diamond hands, & said if you try this at home be diversified ROFL.)   Extra bonus chuckle?  Who comes up first to mind when we think of manly man traders bragging about how once their stash doubles, their uber disciplined arses take 50% off the table?  Mouthing off on youtuber about how they transfer their iron discipline from Wall Street trading over to crypto despite the urging of their young colleagues to let it all ride on?  None other than the head tattooed love child Mikey Novogratz, that's who.  Galaxy  ( mikey's hedge fund) admitted to losing around of a third of a billion.  Some estimates put Mikey's personal losses at a much larger share of the 40 Billion  of wealth destruction Mikey admitted to.   The FT took great joy, we mean they just LOVED to print a version of this funny graphic

At the end of the day, Orange Pill Max  Kaiser summed it up best in a podcast rant, basically the same old forked story - either

A).   D'oh and Mikey et al lost an incomprehensible chit ton of money, & did not have an effing clue what they were up to all along.  AND THEREFORE,   should never be trusted to manage money for anyone ever again (not even the dog food budget. )

OR

B).    They did know what they were doing and did NOT lose all the money in the world, IN WHICH CASE they are absolute felonious degenerate criminals, and THEREFORE,   should never be trusted to manage money for anyone ever again!!!

Pick one, girls & guys, ya can't have both.  

Super extra last bonus guffaws - 1) ya know the FT is wrong, people are idiots, and Terra / Luna will rise up at least a dead cat bounce worth. Congrats to y'all that had the nerve to run into THAT burning building at just the right time. 

  2) Orange Max has been saying for a while the crash n burn of ever printing fiat will be ugly, his headline quote is " Ya can't taper a Ponzi."  Not for nothin ya think maybe Terra / Luna proves his point yet again?? 

Peace &  love to all (except shilling bros)

Dave