In this week’s episode of Bitcoin Bottom Line, hosts C.J. Wilson and Josh Olszewicz discuss the big update of the FTX case. The wheels of justice are slowly turning, and Sam Bankman-Fried has been arrested by the Bahamian Department of Justice. The United States Department of Justice is sending a petition to extradite him, which is predicted to happen. The question now is, does everyone involved who turned on Bankman-Fried get immunity? What will happen to Caroline? There is still a lot that is unknown.
Olszewicz states that the two biggest takeaways are that “this has very little to do with Bitcoin at all: how was the exchange run, who was trading what. The protocol was unaffected. The second one is that regulations are definitely coming. It is just a matter of what flavor. I am all for having the best regulations we can, but would those regulations have stopped something from happening in the first place? Are you going to prevent venture capitalists from investing in companies that are headed by individuals in a United States off-shore tax haven?”
Wilson describes his definition of a bear market while discussing the current state of the crypto space with Olszewicz. They talk about inflation and how most people generally are conscious of price changes of resources such as gas. One of the best ways to see inflation is by looking at fast food prices. They wrap up the episode by discussing user growth. The number of BTC addresses is almost a million, so there are almost a million whole coiners. There are still a few reasons that Bitcoin would not be the best primary source of your money. They talk about the room for growth, how it is hard to earn Bitcoin, and the need for a way to pay salaries with crypto.
Listen to the full episode for more!