<story><title>The cryptocurrency sell-off has exposed those swimming naked</title><url>https://www.economist.com/leaders/2022/05/18/the-cryptocurrency-sell-off-has-exposed-those-swimming-naked</url></story><parent_chain><item><author>ulzeraj</author><text>Tether truthing the eminent doom of tether is all well and good but why aren&amp;#x27;t  we talking more about YCombinator promoting startups that burned their customer&amp;#x27;s money by sending it to anchor protocol UST ponzinomics while lying that those investments were held in USDC and USD?&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;fatmanterra&amp;#x2F;status&amp;#x2F;1527153694218797058&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;fatmanterra&amp;#x2F;status&amp;#x2F;1527153694218797058&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.ycombinator.com&amp;#x2F;companies&amp;#x2F;stablegains&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.ycombinator.com&amp;#x2F;companies&amp;#x2F;stablegains&lt;/a&gt;&lt;p&gt;Or is it bad to talk about such things around here?</text></item></parent_chain><comment><author>robbiep</author><text>Definitely looks pretty bad - but on the other hand, an accelerator not making any bets in crypto is not a sensible accelerator. You need to make bets everywhere and hopefully some stick. The other side of that is some don’t stick, and some go proper pear shaped. Make enough bets, it has to happen.&lt;p&gt;I’ve got no idea what their original pitch is, I certainly wouldn’t back a crypto startup that ostensibly aims to do something like what it looks like they tried to do, but if I was making 300 bets a couple times a year I’d be silly not to do something in the space.&lt;p&gt;Whether a ycombinator seal of approval lead to investment which lead to consumers getting fleeced and culpability in that situation, I don’t know. It’s crypto. If you’re silly enough to think it’s a safe investment, you’re blind. A company can also say a lot of things differently from first pitch to accepting millions from consumers. As an investor with 10%ish equity, you’ve got some sway, but you don’t have much sway. And who is to say their bet isn’t the right one.&lt;p&gt;A stain, but I don’t know about righteous indignation, I don’t know how much culpability transfers back to yc… but I don’t feel it’s a whole lot</text></comment>
<story><title>The cryptocurrency sell-off has exposed those swimming naked</title><url>https://www.economist.com/leaders/2022/05/18/the-cryptocurrency-sell-off-has-exposed-those-swimming-naked</url></story><parent_chain><item><author>ulzeraj</author><text>Tether truthing the eminent doom of tether is all well and good but why aren&amp;#x27;t  we talking more about YCombinator promoting startups that burned their customer&amp;#x27;s money by sending it to anchor protocol UST ponzinomics while lying that those investments were held in USDC and USD?&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;fatmanterra&amp;#x2F;status&amp;#x2F;1527153694218797058&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;twitter.com&amp;#x2F;fatmanterra&amp;#x2F;status&amp;#x2F;1527153694218797058&lt;/a&gt;&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.ycombinator.com&amp;#x2F;companies&amp;#x2F;stablegains&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.ycombinator.com&amp;#x2F;companies&amp;#x2F;stablegains&lt;/a&gt;&lt;p&gt;Or is it bad to talk about such things around here?</text></item></parent_chain><comment><author>d3nj4l</author><text>It was one of the most upvoted threads just yesterday: &lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;news.ycombinator.com&amp;#x2F;item?id=31431224&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;news.ycombinator.com&amp;#x2F;item?id=31431224&lt;/a&gt;</text></comment>