Billionaires like SBF, CZ, Musk Are Not Our Friends And Never Will Be

This should go without saying but it needs to be said. Billionaires are not our friends. Somehow these people manage to amass cult followings who hang on their every word almost like Gospel. Many of us have come to crypto for financial freedom and uses where conventional finance has failed us. Heck, even if you are just here for the profits these people are still very bad source of advice and trust in them is misplaced trust.

I could start with SBF who seems to be intent on acquiring every single crypto company and absolutely crush the competition using what seems to be(or used to be) his unlimited bank account for unlimited buying power. He has also recently come out with some very anti-decentralization statements. Speaking of decentralization we move to CZ who has built up an image of being very pro-decentralization and yet skirts around and avoids the entire issue when it's asked about regarding BSC. On the Binance blog he claims that "decentralization is a gradient scale" and refuses to describe Binance's chain as centralized when only 19 validators are needed to alter or outright freeze the chain completely as we saw recently. Further, any and all validators are chosen by Binance themselves. Binance has also been involved in many cases of either attempting skirt around or outright just ignoring regulatory laws while at the same time CZ speaks warmly about the benefits and positivity of regulations.

Elon Musk outright manipulates markets to his whim and fancy and seems to find it a fun game that he partakes in gleefully as investors may lose their life savings, futures and family funds. He talks a big game about free speech but has started permanently suspending accounts that "impersonate others", which are generally actually obvious account parodies especially those done to him. He also plays a certain segment of crypto "investors" like fiddles who pump the market and get dumped on when he "doesn't follow through" on a tweet and heavily suggest ideas he has no intention of implementing.

I don't think I need to mention the likes of Do Kwon, Alex Mashinsky and John Karony as well as know their deviousness all too well. On this particular note we should realise an important step in DYOR. NEVER invest in any token or platform that has a single individual as the face of the entire company, usually the founder or CEO as the face of the company. All of these people are only here to feed their own ego, and use the veneer of crypto "freedom" to attract those already holding resentment toward traditional finance to gain their blind trust. They are here for the cash and the attention. If nothing else, find yourself a platform or product with a CEO/head whose keeps his/her head down and puts in the work and doesn't have to tweet every hour for validation.

This trickles further down into investment based on "endorsements" from celebrities like Kim Kardashian, Floyd Mayweather and Tom Brady. You can even include Matt Damon in this as while it was an "above-board" paid ad, he was 100% using his name and influence to promote crypto and should clearly know the risks and backlash that it could bring but he seems to have blindly sold out for the money.

Recent market events have also shown that we give these people way too much power. I saw a comment on the sub that said it's actually not a bad thing if Cefi collapses, as Defi would take over. A very interesting statement.