$1 million prize for best banking memes
Former Coinbase CTO Balaji Srinivasan drew a comparison between American banks and Sam Bankman-Fried. He was surprised that SBF faced consequences for his actions when the entire American financial system is built on the same kind of fraudulent scheme.
The only difference between FTX and the banks, according to Balaji, was that FTX used its own token, while the banks bought shitcoins and called them long-term Treasury bonds.
Balaji even announced a meme contest focused on the banking crisis, with 1000 winners receiving $1000 each.
A million here, a million there… But who cares when you've got over $300 million, right?
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