Uploaded May 2022 | Updated September 2026, 2 weeks ago
#shorts
Subscribe to Think Inc. → bit.ly/33tJYEN
What’s up with crypto?
People have lost hundreds of MILLIONS of dollars due to the crypto crash.
So, what’s the cause of it all?
It’s hard to pinpoint, and some people are even suspecting an “evil genius” could be behind it all.
But the TL’DR version is that there was a stablecoin called Luna, which was designed to stay equal to the US dollar, hence the name “stable”.
Well, stable it wasn’t! One Luna coin went from being worth $122 dollars to 5 CENTS in a matter of days.
It wasn’t just Luna, pretty much every crypto currency crashed, leaving Changpeng Zhao, the CEO of Binance down an incredible $47.6 BILLION DOLLARS!
Sam Bankman-Fried, the founder of FTX who also happens to be a big fan of our mate Peter Singer, is down $3 billion.
And while we all enjoy seeing rich people lose money, it’s not as funny when you realise that Sam is an effective altruist who donates large swathes of his wealth to good causes.
So, let us know, do you think this is the end of crypto? Was it just a phase? Let us know in the comments.
ABOUT THINK INC.
Think Inc. is a community of individuals on a mission to expose the true face of modern society. Armed with ideas, we defy the stale conventions of learning by shifting the world’s attention to global ideas, while opening minds.
We’re not on the fringe. We are trendsetters with the power to shift perceptions and reshape the face of the mainstream.
In 2014, Think Inc. launched with the mandate of creating a community where ideas can be shared, challenged, voiced and became a champion of democratising ideas. On this foundation, Think Inc. has grown into a powerful collective.
CONNECT WITH US
Join our mailing list → bit.ly/think-sign-up
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Website: https://thinkinc.org.au/
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#shorts
Subscribe to Think Inc. → bit.ly/33tJYEN
What’s up with crypto?
People have lost hundreds of MILLIONS of dollars due to the crypto crash.
So, what’s the cause of it all?
It’s hard to pinpoint, and some people are even suspecting an “evil genius” could be behind it all.
But the TL’DR version is that there was a stablecoin called Luna, which was designed to stay equal to the US dollar, hence the name “stable”.
Well, stable it wasn’t! One Luna coin went from being worth $122 dollars to 5 CENTS in a matter of days.
It wasn’t just Luna, pretty much every crypto currency crashed, leaving Changpeng Zhao, the CEO of Binance down an incredible $47.6 BILLION DOLLARS!
Sam Bankman-Fried, the founder of FTX who also happens to be a big fan of our mate Peter Singer, is down $3 billion.
And while we all enjoy seeing rich people lose money, it’s not as funny when you realise that Sam is an effective altruist who donates large swathes of his wealth to good causes.
So, let us know, do you think this is the end of crypto? Was it just a phase? Let us know in the comments.
ABOUT THINK INC.
Think Inc. is a community of individuals on a mission to expose the true face of modern society. Armed with ideas, we defy the stale conventions of learning by shifting the world’s attention to global ideas, while opening minds.
We’re not on the fringe. We are trendsetters with the power to shift perceptions and reshape the face of the mainstream.
In 2014, Think Inc. launched with the mandate of creating a community where ideas can be shared, challenged, voiced and became a champion of democratising ideas. On this foundation, Think Inc. has grown into a powerful collective.
CONNECT WITH US
Join our mailing list → bit.ly/think-sign-up
Check out our store → bit.ly/ao-think-store
Website: https://thinkinc.org.au/
Facebook: facebook.com/ThinkInc.org.au
Twitter: twitter.com/thinkincAU
Instagram: instagram.com/thinkinc
LinkedIn: au.linkedin.com/company/think-inc.-events
