Yeah as a technical matter $4.3bn wiped out is kind of wrong. If I issue a billion iffy coins, sell one for a dollar and then it goes to zero that's more one dollar wiped than the theoretical billion.
I'd say this is $600m transferred from investors to insiders.
An interesting question is how much of that $600m was degen gamblers and how much was bribes.
tim333|13 days ago
I'd say this is $600m transferred from investors to insiders.
An interesting question is how much of that $600m was degen gamblers and how much was bribes.