So Sam the founder of FTX has asymmetric information on tether and is trying to use it to profit which will in exchange affect the crypto community, thereby labeling himself Cryptos greatest villain? 🤔
Well that distinction was given to Terra founder Do Kwon. Obviously he was the first to bring down the market when his stable coins lost it's pegged on US Dollar and the subsequent collapsed.
But it seems that Sam Bankman-Fried has surpassed him to be the villain in crypto market, similar drama, he brought the market to it's knees including bitcoin and this will not sit well with his investors and for sure there will be legal ramifications because of this one. So let's see how it goes, for sure next month we will forget all about this things as the market will recover.