always wild to hear the news about someone I vaguely knew as "that frosh" from when I was in grad school, a guy who got really lucky once and could have quit while he was ahead, donated his winnings to normal things, and retired to spend more time with his League of Legends, but instead tried to own the world and is now awaiting extradition from a shitty jail to a different shitty jail. [1]
anyway the Reuters caption writer here lives in a different world than the article writer. The caption writer thinks a "liquidity crunch" forced him to "declare bankruptcy", a thing that would happen to normal companies sometimes. The article writer gets more to the point.
It wasn't a little whoopsie liquidity crunch. "Complete insolvency" forced him to "say out loud that he didn't have the money because he spent it". Just normal crypto things! [2]
[1] they're all shitty but I figured that multi-billionaires would find a way to get locked up somewhere comfy. I guess multi-negative-billionaires can't though
[2] In case my position on all this is unclear, we should work to abolish prisons, but the last people we should abolish them for are people who fucked the world with cryptocurrency.
