A lot of this is no different as when CeFi exchanges were getting started in Bitcoin back in the 2016/17. BlockFi, Voyager, Celsius, 3ac, all those fucks got started back in those days. They even survived one or two major market crashes.
Did that help? No, actually it made things worse, because their survival gave a fake appearance of strength, which fooled more plebs. And, I think, it gave those scammers false confidence that they could endure a crash. Then 2022 comes around and they were all annihilated, taking the plebs with them.
A lot of this is no different as when CeFi exchanges were getting started in Bitcoin back in the 2016/17. BlockFi, Voyager, Celsius, 3ac, all those fucks got started back in those days. They even survived one or two major market crashes.
Did that help? No, actually it made things worse, because their survival gave a fake appearance of strength, which fooled more plebs. And, I think, it gave those scammers false confidence that they could endure a crash. Then 2022 comes around and they were all annihilated, taking the plebs with them.