"The trustee says that Synapse doesn't have enough to pay for an outside firm to reconcile the ledgers, estimating it would cost between $2 and $3 million."
After a bankruptcy, the bankrupt party loses financial privacy. Someone should ask the court to release the raw data. Put that in an AWS bucket and someone will probably figure out what happened.
Let's not forget Synapse has investors like Andreessen Horowitz sitting on untold billions of dollars who are totally fine fucking over the common-folk so they can hoard that much more wealth. $3 million is a rounding error to them. These people are monsters and should be named and shamed.
When Silicon Valley Bank went bust, Anderessen Horowitz was one of those screaming for a federal bailout for accounts way over the FDIC insurance limit. They got the bailout.[1]
There is some poetry that I am unable to capture when you juxtapose those rich assholes begging daddy government to bail them with that retarded libertarian screech from Marc Andreesen about Techno-Optimism: https://a16z.com/the-techno-optimist-manifesto/
Those people are sociopaths, and society would be better to treat them as such. At best they are just rich bufoons, at worst they have enough money to shape things according tp their dangerous views.
In the US, cryptocurrencies are not currently regulated, so one cannot deregulate them. Also the article discusses about saving accounts and payments style product, not an investment product.
After a bankruptcy, the bankrupt party loses financial privacy. Someone should ask the court to release the raw data. Put that in an AWS bucket and someone will probably figure out what happened.
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