Just months in the past SPF and FTX have been Swooping in to save lots of the business Voyager Digital was one of many firms that FTX efficiently bid on of their Bankruptcy now binance us is planning to Bid for the chapter of Voyager Digital in keeping with a supply uh you Know I simply I bear in mind us speaking about FTX as this as this white knight within the Media this Savior and and Zach I say This day by day on the present we stated Should one man have all this energy and Now the businesses that FTX was getting into To save and prop up are as soon as once more Looking for some Capital to remain alive So binance is again within the operating They're bidding on Voyager voyagers Token vgx jumped as a lot as 50 on Coindesks report George Um kicking it off to you Is CZ and binance attaining that that Power are we placing CZ and binance on That identical pedestal that we put SPF and FTX on simply six months in the past Um did Sir CZ definitely making an attempt to proper For the love for all that's Holy don't Become the primary character CZ I don't Want to depend upon his ex and we'll see Justin's son to come back to save lots of us while you Fall for Grace Um yeah I don't know if you wish to develop into the Hero in crypto it is best to simply let Things Crash and Burn binance
Has a token too and it's approach larger than Fct was and CZ has some huge cash and he Is a reasonably large vested curiosity and all Of this being okay I assume that's a Complicated situation uh Voyager Might have property tied up in FTX U.S Those may be locked up in belief Um there are simply common questions so Back to your level there are common Questions if this can be a free market I Guess we may have Heroes proper I don't Know what Rockefeller was doing again in The day however when he was doing Standard Oil stuff was he bailing out these Companies or was he identical to taking Them to tack them onto his personal enterprise I don't know what I do assume this exhibits To simply take one other thread right here is it Just exhibits how insular and contained Crypto is there are there have been At some level possibly final 12 months round This time fears of broader contagion to The remainder of the economic system however I believe this Really simply is proof that this can be a Crypto drawback nobody else is Sweeping In to purchase any distressed property besides For the crypto Elites and for lack of Better time period CZ might be essentially the most Elite of crypto guys on the market I do know Zach something that Yeah I ponder if that is a part of the Recovery Fund that was introduced um the Other day proper these are definitely Maybe tasks that uh ran
Afoul of a of a streak of dangerous luck and I'd have an interest to see if an Infusion of capital right here or a takeover Bid would convey them again to life it Does appear ironic that we're making an attempt to Make these Um formally failed centralized Finance Uh intermediaries sort of make them again Into their former selves however possibly the Lesson of this entire factor is that we Shouldn't be doing that as an business Right we shouldn't be recreating loads Of these black containers which have led to Risky practices swept below the rug that Ultimately result in the downfall of many A enterprise and sink The Fortunes of many An investor so I believe like that's Something to price is that one thing Like value asking however I believe in the end At the top of the day proper there are Voyager customers who're in ache Right now they're they're being parted With uh their Investments and if it Takes um an business big to Swoop in and supply some short-term Relief in order that possibly they'll Uh mitigate their take subsequent Steps which are completely different from what acquired Them within the state of affairs this time round Maybe that's a superb factor and I believe I Think it's value being empathetic to Those who're feeling the ache proper now Um and never essentially to um uh Leap to the conclusion that that is
Necessarily a nasty factor so I'm Suspending uh suspending judgment on This one going to be fascinating to see If Voyager comes into the binance fold Because it could give binance a Nice piece within the crypto lending area That heretofore has been an enormous pillar of The crypto economic system undoubtedly one to Watch Jen Yeah I'm simply going to learn this a quote From the article binance's Chief Communications officer stated that binance Is not trying to be the White Knight of Crypto he stated there aren't any Luke Skywalkers or Darth Vader's in enterprise This is an organization with essentially the most to lose As its market chief wanting round to See the place we can assist bolster the Industry by a Black Swan occasion and Zach simply to what you have been saying it Reminded me of what Hester purse stated at The starting of their bear Market you Know we should always really simply let these Companies fall I believe that the business Will get higher for it George you're Absolutely proper I believe that the Industry may be very incestual and contained And I believe that we may do with some Diversity of thought range of Business expertise in order that we don't see This occur once more I believe it's Great to have crypto expertise it's Great to have internet 3 expertise it's Great to be pals and colleagues with
Everyone on this business however I believe Bringing in individuals who assume in a different way And have completely different experiences may Potentially assist us mitigate a few of the Risks that we've seen throughout this Market George I'm handing it off to you for Less ideas Yeah I believe lots of people have Written in regards to the concept the place crypto is Just doing all the failings of Traditional Finance in hyperspeed proper We had nevertheless a few years between the Great Depression to no matter 2007 was And we're simply making an attempt to do every part In that little tiny interval for such as you Know the previous 12 months and a half two years Or so Um If we don't just like the previous Financial System then why are we creating crypto Exchanges that then commerce derivatives or Derivatives which commerce derivatives on Top of one another which is how 2007 occurred why can we maintain doing this Is it as a result of we want range of Thought I imply do we have to have a Bunch of 30 12 months olds operating round Running and operating these companies or Do we simply do we want grey hair within the Space do we want extra ladies do we want More minorities like what do we want I Don't know man I don't have the solutions Solid rhetorical questions George that
Was improbable let's depart it there the Audience says questions lingering in The Ether and hopefully some solutions will Come again to us in some kind