Maybe, and this might be a controversial take, nobody should be paid $105 million - because maybe nobody is actually generating that much value on their own.
This is like saying banks should not manage risk. I am sure that if you put your bucks in a bank account you want to seem them there when you check your balances otherwise you know who you will be blaming.
Also, ask CEOs and Chief Risk Officers from financial institutions if they worry about evaporations. I am not surprised though about him walking away with the money and your comment in the crypto world.
Coinbase didn’t do enough to thwart the massive fraud and youtube-deepfake-powered-heists going on. Lots of sheep lost lots of money and look where we are now. The crypto winter will last 50 years.
Coinbase is not a scam - the service they provide is the buying and selling of cryptocurrency which they do just fine. I don't like crypto either but calling everything related to it a scam is just intellectually lazy.
I think that's the best place to prevent collapse. They were industry leaders, for some time at least. They funded a bunch of things which turned out to be scams, biggest one being FTX. If internet collapses, I think google will be a bit to blame, no?
I mean...we've seen these massive boom and bust cycles over and over again. So yeah I do sort of expect the Chief Product Officer to have some clue how to handle them. It's not like it was out of the blue.
parent comment said "not good at the moment" so just responding to "at the moment" its actually not as bad as the haters would imagine (e.g. its well above the 2020-era ceiling of $16k despite much tighter monetary policy and crypto institutions failing all over the place)
I meant like crypto as a whole. The 2020 shininess has worn off. NFTs are all dead. Web3 is being forgotten. The main news stories are about fraud and hacks.
From a quick glance at their financials, they lost about a billion dollars in the past year but still have $7 billion in working capital. I think they'll be fine.
I've been hit up by cryptobro's on LinkedIn more in that last month than at anytime previous. Clearly the ponzi scheme needs more victims to keep the pyramid intact...
