Crypto’s Alpha Male Culture, Explained
In the days leading up to the staggering collapse of FTX, a series of tweets from a top crypto executive signaled that the exchange was likely in deep financial trouble. Former FTX CEO Sam Bankman-Fried and Binance CEO Changpeng Zhao - or “CZ” as he’s commonly called - are known rivals. But when CZ tweeted that he was pulling his investments out of FTX - it sparked a run on the exchange that ultimately led to its insolvency. The idea that a once flush crypto exchange worth billions of dollars could be taken down by what started as a series of barbs on Twitter, fuels the perception that the digital asset industry is led by alpha-males who promote a hyper-masculine culture. Now that SBF — formerly one of the most renowned CEOs in the business — finds himself facing serious criminal and civil charges, this episode considers what’s at stake for the industry, and whether the culture is likely to change. Bloomberg’s Vildana Hajric joins Mike Regan for a robust review. Subscribe to the Bloomberg Crypto Newsletter at https://bloom.bg/cryptonewsletter See omnystudio.com/listener for privacy information.