Crypto bosses keep resigning

[Pekelo]

https://www.bloomberg.com/news/arti...-see-c-suite-resignations-in-face-of-meltdown

The convulsions that set the cryptocurrency market tumbling earlier this year and delivered shock waves through the industry have subsided. Now comes the shakeup in the C-suite.

More than two dozen high-ranking executives — from Alex Mashinsky, the charismatic and controversial co-founder of now-bankrupt crypto lender Celsius Network to Brett Harrison of digital-asset exchange FTX US and Jesse Powell, the outspoken head of FTX’s rival Kraken — have vacated their posts in the past two months alone.

 

[misterkel]

https://www.bloomberg.com/news/arti...-see-c-suite-resignations-in-face-of-meltdown

The convulsions that set the cryptocurrency market tumbling earlier this year and delivered shock waves through the industry have subsided. Now comes the shakeup in the C-suite.

More than two dozen high-ranking executives — from Alex Mashinsky, the charismatic and controversial co-founder of now-bankrupt crypto lender Celsius Network to Brett Harrison of digital-asset exchange FTX US and Jesse Powell, the outspoken head of FTX’s rival Kraken — have vacated their posts in the past two months alone.

Inconclusive without a base rate to measure against.
Is this a normal rate of turnover in an industry with aggressive turnover?
Dunno.

 

[Frederick Foresight]

 

[stochastix]

Buncha fuckin morons

 

[The_Krakenite]

Jesse Powell was unexpected. I didn't even catch any news of that happening. Kraken has been around a very long time, withstood the test of time and was one of the few platforms that had never been hacked.

 

[Pekelo]

Jesse Powell was unexpected.

He probably just want to spend more time with his family. Or he is smart enough to get out while the getting is still good. You know, before the lawsuits and bankruptcies.

 

[Stratter]

The whole crypto industry rose on the legs of cheap money worldwide. Disregarding any philosophical, societal or technological value that exist(or doesn't) in that industry, nothing could have happened with that speed and at that scale, concerning such ephemeral assets(more non-physical than stocks... where at least the business that issued the stock has some real assets, most of the time). It's normal for the smarter folks to abandon ship. I'm disappointed that they haven't done it sooner, people operating at such scale should have more foresight than the regular person.

 

[gwb-trading]

And crypto firms keep scrubbing their team member profiles from their website before they go belly up.

https://twitter.com/x/status/1584247387941351424

 

[frnw]

The whole crypto industry rose on the legs of cheap money worldwide. Disregarding any philosophical, societal or technological value that exist(or doesn't) in that industry, nothing could have happened with that speed and at that scale, concerning such ephemeral assets(more non-physical than stocks... where at least the business that issued the stock has some real assets, most of the time). It's normal for the smarter folks to abandon ship. I'm disappointed that they haven't done it sooner, people operating at such scale should have more foresight than the regular person.

If you talking about alt-shit projects... okay. But if you also include BTC you don't understand technology at all!

FTX will be Binance's biggest competitor.

For 99% of the alt projects exists many backdoors because they build the project for only 1 reason. Money!

 

[The_Krakenite]

Disregarding any philosophical, societal or technological value that exist(or doesn't) in that industry, nothing could have happened with that speed and at that scale, concerning such ephemeral assets(more non-physical than stocks...

None of what you said makes any sense to me, so maybe I am mis-understanding it? Is this sarcasm?

Disregarding what, everything positive that exists, and doesn't exist? Huh? What???

Can you please explain this in english for the stupid people like myself?