The FLYWHEEL SCHEME has been the dominant business model in “crypto” “cefi” from the past three years. It was as dirty as ICOs, maybe worse in wealth destruction and delay of Bitcoin adoption.
Major perpetrators:
FTX & Alameda
Celsius
Crypto dotcom
Nexo
Babel
Voyager
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Basic architecture of a flywheel
Pump token price
Mark ‘gains’ to balance sheet
Show “gains” to investors
Raise cash through equity sales
WordPress’d from my personal iPhone, 650-283-8008, number that Steve Jobs texted me on
https://www.YouTube.com/watch?v=ejeIz4EhoJ0
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