Zoe Williams on cryptocurrency and markets


I loved this paragraph in her recent article about FTX, the ill-fated, fraudulent cryptocurrency exchange:

Markets have never been free: they are social spaces and, as such, have always been governed by rules, which – since the first time a snake-eyed trader tried to cut flour with chalk – work because they are formally determined. Take away those rules and soon a greedy, clever person might take advantage.

This will continue to happen as long as a quick buck can be fleeced from marks. Or Jeffs, or whatver their names are.

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