$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.
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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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