Mark Yusko is CEO and Founder of Morgan Creek Capital Management, an investment advisory firm. He was interviewed by Kitco’s main presenter and editor, Michelle Makori, on December 2nd. During the interview, Yusko returned to the FTX affair and made more or less intriguing revelations about the role SBF would have played.
Mark Yusko calls Sam Bankman-Fried a useful jerk
In his interview with Michelle Makori, the founder of Morgan Creek has explained that SBF only served as collateral in the FTX affair. according to him a person who ranks well above the former CEO of FTX or Caroline Ellison from Alameda Research, orchestrated everything that led to the bankruptcy of Binance’s rival. Specifically, Yusko said:This debacle is a scam that I believe is being perpetrated by someone above useful idiots“.”They are just pawns in a very large and sophisticated system designed to launder money.“, he added.
The founder of Morgan Creek clarified: “It’s certainly possible that someone intended to make this an example that regulators could follow to punish the industry“. He continued to talk about the fact that SBF “from very large sums of money Politician“. He recalled that the ousted leader had said he could donate $1 billion for the next elections.
During his interview with Makori, the CEO of Morgan Creek Capital Management stated that DeFi is a real threat for TradFi. He said DeFi challenges the concepts of fiat currency and central planning. In his opinion, the same applies to Bitcoin (BTC). No financial institution or bank controls the flagship crypto.
Additionally, Mark Yusko argues that DeFi promotes greater accessibility, as well as security and transparency. According to him and many crypto advocates, the technology is “bLockchain replaces trust with truth “.
Mark Yusko believes financial institutions and third party intermediaries want to be undisturbed by DeFi and cryptos. In order to do this, “It is possible that a group of incumbents tried to lobby for regulation to be delayed. »
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Far from dampening my enthusiasm, an unsuccessful cryptocurrency investment in 2017 only heightened my enthusiasm. I therefore decided to study and understand the blockchain and its many uses and use my pen to share information related to this ecosystem.