BlockFi: You know it's gonna get worse when they make non-…

BlockFi:

You know it's gonna get worse when they make non-sensical reports like "assets and liabilities between $1bn and $10bn" which is entirely meaningless & obfuscational, and then they list the top 3 creditors and 2 of them are tiny while the main creditor is near $1 billion and basically a related party (the "Trust" which holds all the DeFi crappola).

It's going to be interesting to find out just what crappola the poor bastards in the "Trust" hold, and how much it's all down since they placed it there, and how the "INTEREST" they were earning doesn't add up to a mole-hill of chicken shit.

The only telling thing about BlockFi, is who was interested in saving it:
1) Obviously Sammie Fries was interested, to protect his house of cards.
2) Even CZ didn't want anything to do with this one! (He was interested in Voyager)

TIMING: Notice Binance/CZ tried to raise $1 billion for "recovery" fund 3 days ago.

What's amazing is the loser-denial by the playas in the cryptoSpace who run around bidding on things like BlockFi's "credit card customers" (Coinbase, Binance, Nexo, and Curve) as if this is all just another BTMFD exercise.

It's truly astounding to me that people aren't respecting that TRUST was violated, and when that happens across multiple companies (not just a single one like Mt Gox) within the same year, it's not going to be restored in a V-shape recovery. Seriously, these cryptoDaddies need to use their heads a LITTLE bit:

"DeFi": Total four-alarm disaster. Everytime someone mentioned it from the first utterance to 2022, it was trash.
"NFT". While NFTs have a strong history ahead, the 2020-2022 "gen 1" NFTs turned out to be trash dipped in rat sewage.

OK, so some bigtime folks have been suckered MULTIPLE times. How many times do you think it will take for the space to "cry wolf" before institutional investors finally wisen-up? The vast majority of institutional investors didn't believe in any of this stuff in the first place. Now even the true believers are going to be revolted by anything that doesn't sound logical.

https://www.youtube.com/watch?v=0akBdQa55b4

It's a good thing original BitCoin has a logical side to it. Still a rough go, but there's not as much shiny loud price-noise to shout-over when trying to describe what BitCoin might be able to do with a little capital thrown its way. We'll see.