If it sounds too good to be true, it probably is.
Unfortunately, we saw another example in November 2022 as cryptocurrency exchange FTX went bankrupt. The exchange was founded by Sam Bankman-Fried (everyone calls him "SBF"). The elites celebrated him as the next Warren Buffet. Investors large and small got caught up in the hype and shoveled billions into his exchange. Apparently, he's a great guy too! He encourages young people to pursue effective altruism, where you get wealthy and give it all to charity.
Just kidding. It turns out SBF is a terrible guy. FTX was a Ponzi scheme, his effective altruism was a hoax, and his investors lost everything. If you're a regular reader of Main Street Insiders, you're not surprised. Bernie Madoff was arrested within 24 hours of his fraud being discovered. Here’s what SBF is up to:
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