In the American Banking system people deposit their money in a bank,
The bank uses all those deposits to make money by investing
If the investments fail, the depositors money is lost, but the bank has invested none of its own money, so the bank experiences no loss.
Banks keep all the profits and depositors take all the risk.
The Bank President doesn’t get charged with a crime.
The Bank President doesn’t get fired
The Bank President doesn’t get sent to jail or even house arrest.
The Bank President takes time off goes to a beautiful tropical island to recuperate from the stress of running a bank
Does this sound familiar?
Do the initials SBF and FTX ring a bell?
If this sounds like the crimes that Sam Bankman-Freud, the former CEO of cryptocurrency exchange FTX was charged with, it’s because it is exactly what he is charged with and it is exactly why he was in jail and why he is now preparing for trial.
Maybe SBF isn’t a criminal, maybe he is a banker.
What if SBF feels like a banker?
And if he feels like a Banker, then that is his truth, and his truth is his reality.
So should we all stop being haters give him the validation he needs to be who he feels he is.. a banker?
Should the SEC drop all charges against SBF and the US Government make all his depositors whole again?
That is what they would do if FTX was a bank!
After all, perhaps SBF just wants to live his own truth? His reality.
Who are we to question his feelings, his truth & his reality ?
I mean just because FTX was born a cryptocurrency exchange, and just because FTX grew into one of the largest and strongest cryptocurrency exchanges in the world, doesn’t mean FTX can’t decide to be a bank now!
We should not let things like the lack of a banking charter, the lack of a banking license, the lack of the word bank in any of its legal documents, and all other visual and written cues that FTX is a cryptocurrency exchange prevent us from validating FTX’s feelings about being a bank.
Those are facts, but they are not his facts.
Those are truths, but they are not his truths.
Those are reality, but they are not his reality.
Those facts, those truths and that reality don’t matter.
Only what SBF feels matters.
And any advantages SBF gets by feelung like a bank now are purely coincidence.
