fbpx
  • About Us
  • Contact
  • Sponsored Content
  • Price Tracker
  • Write for Us
  • Terms and Conditions
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Forecast
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Crypto.com Review
      • Swyftx Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase
No Result
View All Result
SUBSCRIBE
Coin Culture
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Forecast
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Crypto.com Review
      • Swyftx Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase
No Result
View All Result
Coin Culture Logo
No Result
View All Result

Home » Crypto Enthusiasts Need To Stop Supporting Cults Of Personalities

Crypto Enthusiasts Need To Stop Supporting Cults Of Personalities

Cuong Nguyen by Cuong Nguyen
November 29, 2022
in People
Crypto Enthusiasts Need To Stop Supporting Cults Of Personalities
Share on FacebookShare on Twitter

You might also like

Best Crypto Youtube Channels For Crypto Enthusiasts 2023

Sam Bankman-Fried Pleads Not Guilty in FTX Fraud Case

Jack Dorsey Funds Social Network Nostr 14 BTC

Several of the centralised platforms that failed this year shared a youthful, bold, and arrogant leader whose outsized impact was not the result of superior intelligence or talent but rather of their enormous wealth and big Twitter followings. And each time, misplaced faith in their abilities led to terrible consequences.

We must reconsider our leadership priorities and abandon personality cults if crypto is to avoid future disasters of the same magnitude.

The crypto theatre on Twitter

Sam Bankman-Fried (SBF) gained a reputation for being among the sector’s most powerful figures before FTX’s demise. He was involved in politics and constantly shared his thoughts on Web3 events.

However, his active participation in various Twitter fights was most noteworthy. After Chef Nomi abruptly halted work on the project, SBF first gained attention as the project’s replacement. As a result of his ensuing Twitter antics and the widespread promotion of FTX’s unstoppable success, he attracted more than a million followers.

Even when SBF’s popularity increased, he couldn’t stop shitposting and frequently conversing with other Twitter users who used abusive language.

SBF’s fondness for Twitter drama was key in bringing FTX’s bankruptcy to light. His most recent argument eventually caused the run on FTX’s deposits with CZ. Throughout the current situation, he continued to engage in attention-seeking behaviour, culminating in an odd string of cryptic tweets.

The loudest voices in the room

SBF is the most recent example of an industry person whose extremely visible Twitter presence resulted in a highly visible fall from grace, but he is by no means the first. Do Kwon and Su Zu were notorious trolls at the core of two major crashes earlier this year. Before Terra’s demise, Do Kwon made a notoriously brash series of tweets, and Su Zhu’s infamously evasive remarks during the 2021 bull run also didn’t age well.

At our company offsite this week with all the drama happening. Debating who is the bigger villain in crypto:
a) Do Kwon – $58b loss from UST & LUNA
b) SBF – $10b missing deposits in FTX
c) Su Zhu – $3.5b loss from borrowers
d) Alex Mashinsky – $2.8b missing deposits in Celsius

— Bobby Ong (@bobbyong) November 10, 2022

There are a ton of tweeters who have used trolling and online spectacle to dominate the debate in their sector. Consider Jim Cramer and Ben Armstrong, also known as Bitboy, to mention a few more. They have a little army. And while many have been purged during the downtrend market, their successors are evolving into industry powerhouses who are too boisterous and important to be ignored.

Jim Cramer said that he sold all of his crypto.

Then he blamed @APompliano for “putting him in” BlockFi.

So he… lied?

Now he’s on a crusade to blame anyone he can find for his own bad decisions, even “digital finance people,” which is literally a made up term. https://t.co/NTojFohvFQ

— The Wolf Of All Streets (@scottmelker) November 18, 2022

It’s time to end the cults of personality.

So what is the answer? How can we recognise this personality type more accurately to prevent future suffering?

The crypto community must concentrate on platforms and leaders creating products that employ web3 projects to solve problems rather than creating cults of personality. It has to start listening to the wiser, more experienced voices, even if they are occasionally quieter, rather than just the loudest ones in the room. Additionally, we require more input from builders with a track record of providing users with genuine value.

The solution is ultimately within ourselves and with those whom our business chooses to lionise. Regardless of how many fans they have, we must learn how to recognise and assist developers in creating decentralised, transparent, safe, high-quality applications.

 

 

Tags: CryptoFeature
Cuong Nguyen

Cuong Nguyen

Cuong Nguyen is Coin Culture's managing editor for people and market, covering opinon, interview and market analysis. He owns Near, Aurora and Chainlink

Recommended For You

Best Crypto Youtube Channels For Crypto Enthusiasts 2023

by Pat Daniel
January 20, 2023
0
Best Crypto Youtube Channels For Crypto Enthusiasts 2023

Are you looking to get started on cryptocurrencies but not sure how to go about it? Youtube is the best place to start your research. Having the right...

Read more

Sam Bankman-Fried Pleads Not Guilty in FTX Fraud Case

by Cuong Nguyen
January 4, 2023
0
Sam Bankman-Fried Pleads Not Guilty in FTX Fraud Case

During the arraignment of Sam Bankman-Fried in Manhattan, U.S. District Judge Lewis Kaplan of the Southern District of New York set a preliminary date for the trial that...

Read more

Jack Dorsey Funds Social Network Nostr 14 BTC

by Cuong Nguyen
December 19, 2022
0
Jack Dorsey Funds Social Network Nostr 14 BTC

After recently releasing his ideas on a native internet protocol for social media, the former CEO of Twitter has given around 14 BTC worth $245,000 to facilitate the...

Read more

Donald Trump’s Big Announcement: $99 Digital Trading Cards NFTS Sold

by Cuong Nguyen
December 19, 2022
0
Donald Trump’s Big Announcement: $99 Digital Trading Cards NFTS Sold

Former President Donald Trump has launched a collection of 45,000 non-fungible tokens (NFT), as revealed via Truth Social, the social media platform he created last year, on Thursday....

Read more

BlackRock CEO: Tokenisation Of Securities Is The Next Generation For Markets

by Cuong Nguyen
December 5, 2022
0
BlackRock CEO: Tokenisation Of Securities Is The Next Generation For Markets

Larry Fink, CEO of BlackRock, stated that the tokenisation of securities would represent the next generation of markets and securities. In the blockchain world, tokenisation creates a digital...

Read more
Next Post
Top 5 NFT Drops Of The Year

NFT Craze In 2022: Top 5 NFT Drops Of The Year

Most popular

  • Polkadot Surpasses Cardano To Rank Top In Crypto Development Activity

    Polkadot Surpasses Cardano To Rank Top In Crypto Development Activity

    90 shares
    Share 36 Tweet 23
  • Best Crypto Youtube Channels For Crypto Enthusiasts 2023

    630 shares
    Share 252 Tweet 158
  • Top Crypto Twitter Influencers in 2022

    878 shares
    Share 351 Tweet 219
  • 11 Best Crypto Debit Cards In Australia: A Curated List 2022

    125 shares
    Share 50 Tweet 31
  • ChatGPT Taught On How Bitcoin Will End Fiat Currency

    77 shares
    Share 31 Tweet 19

Recommended

Committee Appointed To Represent Genesis Global's Unsecured Creditors

Committee Appointed To Represent Genesis Global’s Unsecured Creditors

February 6, 2023
Australia Releases Token Mapping Consultation Paper To Guide Regulation

Australia Releases Token Mapping Consultation Paper To Guide Regulation

February 5, 2023
MicroStrategy Records $197.6M Impairment in Q4 2022

MicroStrategy Records $197.6M Impairment in Q4 2022

February 5, 2023
Coinbase Stock Jumps 24% After Federal Securities Suit Dismissal

Coinbase Stock Jumps 24% After Federal Securities Suit Dismissal

February 5, 2023
Facebook Twitter Instagram
coin culture logo

Your Australian news source for all things cryptocurrency. Coin Culture is an independent media outlet that aims to provide an Aussie take on crypto, digital assets, and investing.

Hot Topics

  • DeFi
  • NFT
  • Gaming

Top articles

CoinSpot Review
Swyftx Review
Best Crypto Exchanges Australia
CoinSpot vs Swyftx

BROWSE BY TAG

Adoption Altcoin News Banks Bitcoin Bitcoin News Blockchain News btc Business Cardano Cardano News CBDC China CoinSpot Crypto Cryptocurrencies Crypto Exchange DeFi Dogecoin News El Salvador ETF Ethereum News Exchanges Feature FTX Games Markets Metaverse Mining NFT NFT Game Opinion People Policy and Regulation SAM SEC Security Shiba Inu News Solana Stablecoins Tech Terra Top Crypto News Australia | CoinCulture Trading U.S. web3

© 2022 CoinCulture. All rights reserved.

No Result
View All Result
  • Markets
  • Policy
  • Tech
  • People
  • Business
  • 101 Guide
    • Bitcoin Guide
    • Blockchain Guide
    • Ethereum Guide
    • DeFi Guide
    • Trading Guide
    • ICO guide
    • Bitcoin Cash Guide
    • Ripple Guide
    • NFT
    • Dogecoin guide
  • Hot topics
    • NFT
    • Metaverse
    • Games
    • Forecast
  • Exchanges
    • Crypto Exchange Reviews
      • CoinSpot Review
      • Crypto.com Review
      • Crypto.com Review
      • Swyftx Review
    • Exchange Comparisons
      • CoinSpot vs Swyftx
      • CoinSpot vs Digital Surge
      • CoinSpot vs Coinbase
      • Coinspot vs Binance
      • CoinSpot vs Kraken
      • CoinSpot vs Independent Reserve
      • CoinSpot vs Bitfinex
      • Coinspot vs Plus500
      • CoinSpot vs Bittrex
      • CoinSpot vs BTC Markets
      • CoinSpot Vs Etoro
      • CoinSpot vs Cointree
      • CoinSpot vs KuCoin
      • Crypto.com Vs Coinbase
      • Crypto.com vs Binance
      • Swyftx vs. Independent Reserve
      • Swyftx vs. CoinJar
      • KuCoin vs. Coinbase

© 2022 CoinCulture. All rights reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.
  • bitcoinBitcoin(BTC)$22,955.00-2.02%
    BITCOIN
    24H : -2.02%
    Volume : $26,961,607,019.00
    Marketcap : $442,523,918,284.00
  • ethereumEthereum(ETH)$1,631.45-2.96%
    ETHEREUM
    24H : -2.96%
    Volume : $8,326,124,994.00
    Marketcap : $196,573,070,812.00
  • tetherTether(USDT)$1.000-0.05%
    TETHER
    24H : -0.05%
    Volume : $37,438,729,490.00
    Marketcap : $68,039,161,341.00
  • binancecoinBNB(BNB)$327.86-1.20%
    BNB
    24H : -1.20%
    Volume : $937,196,662.00
    Marketcap : $44,223,165,231.00
  • usd-coinUSD Coin(USDC)$0.999-0.15%
    USD COIN
    24H : -0.15%
    Volume : $3,209,631,382.00
    Marketcap : $42,003,230,663.00

Add New Playlist