The point is that, when all is said and done, we’re supposed to trust them that it’s alright. But wasn’t that supposed to be the exact problem that blockchains were supposed to fix, remove trust from the equation? Why is it that people are so willing to trust them all of a sudden? It is contradictory and seems to me like pure tribalism. In the lack of evidence either way, I think we should assume the worst, not the best. This is what would happen if the same thing was done by a non-crypto company who disappeared with the money.

P.S. If anyone ever reads/replies to this comment I can predict that the answer will be: “yeah but that’s what wall street does, so what” So what, first of all it actually isn’t, but let’s assume it is: people invest in blockchains with the promise of descentralized trustless, so this means the promise was broken, because at the end of the day the whole thing is actually supposedly backed by a centralized trust-based fund (which failed horribly even so). In case people wanted to invest in centralized trust-based funds they have a myriad of other options with actual security features in them, and not just “I promised to do the right thing, cross my heart”. Now tell me something: what would you call a company that disappears with US$ 2b and promises to do the right if it wasn’t crypto?