How the government created Celsius and BlockFi and got everyone rekt:
- prevent the free market from accessing bitcoin by blocking etfs and funneling people into gbtc
- gbtc starts to trade at a premium to spot Bitcoin
- companies start borrowing fake bank credit money from government approved monopolies (banks) to arbitrage the premium by the billions
- blockfi, Celsius and other yield companies start popping up to participate in the trade with user funds
- when they fucked up, government approved darling and major donor FTX steps in to "save" blockfi - drawing in even more users
- when it all collapses, government fines all these companies which use user funds to pay fines
EXCELLENT JOB GOVERNMENT, THANK YOU FOR KEEPING US SAFE