Martin Shkreli reassures Do Kwon about life in prison as they discuss FTX and Binance
The huge changes in the crypto exchange market on Nov. 8 led to equally massive waves of commentary. The UpOnlyTV channel on Twitch was a beneficiary of this activity with Do Kwon and Martin Shkreli showing up simultaneously to talk about the deal between Binance CEO Changpeng Zhao (CZ) and FTX CEO Sam Bankman-Fried (SBF) for the purchase of FTX.
Shkreli, sometimes referred to as the “Pharma Bro” for his role in that industry before his conviction for securities fraud, had doubts the Binance-FTX deal would work out. “I think the hole [FTX’s balance sheet shortfall] is a lot bigger than people think and I think there’s a good chance Binance walks away, and I think that’d be terrible,” Shkreli said.
Kwon, whose Terra Labs issued the TerraUSD (UST) stablecoin, now known as TerraUSD Classic (USTC), that collapsed catastrophically in May, had more confidence in the deal, saying:
But when asked if he would invest in an SBF startup, Kwon demurred. “I’m not much of an investor,” he said. “I think it’s too early to tell.”
Speaking about the role of his “bravado and persona” in the Terra/Luna collapse, Kwon said, “I don’t think that what happened with UST would have been any different if the way I conducted myself on Twitter was different. Actually, how I am in real life and how I am on Twitter is pretty different. […] There is value in being entertaining and funny.”
“Well, in the list of villains for this year, Do is moving further down,” Wintermute CEO Evgeny Gaevoy, another guest on the show, conceded. “It’s not that bad anymore, I guess, compared to Alameda and Three Arrows. […] He was a bit cocky, but whatever.”
Another guest called him, “A sociopath, to be blunt,” adding, “I’m not a huge fan.”
Commenters on the live stream were no
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