FTX Crypto: Tom Brady was in. Were you?

[Rain Man]

Originally Posted by Razaele

What could go wrong if I put my money in a market and a financial instrument that’s not regulated, nor backed or insured by anything?

And isn't anything real.

I saw this in an article the other day, and it's telling. It shows 311 cryptocurrencies participating in sponsorship deals with sports organizations.

311.

This is not an industry that existed a decade ago. What this tells me is that the barrier for entry is really low, and anyone and their dog can create their own "cryptocurrency". Literally their dog since some of them are named after dogs.

I recognize that I'm a trailing edge sort of guy on these things. I've missed some opportunities as a result. But I'm staying far away from this stuff. It's not real.