After a lengthy trial and conviction, we finally learned how long former crypto baron Sam Bankman-Fried will be behind bars: up to 25 years.
It’s a lengthy sentence, but one that given the scale of the crimes he was convicted of, doesn’t come as a shock.
For the crypto industry, it’s also the final page in a chapter that many may want firmly behind them.
After all, we’re out of the last crypto winter and are back in a period of rising token prices, growing trading volume, and hints of the prior excitement that web3 commanded during the last asset bubble.
Still, before we fully wrap up our coverage of SBF and his erstwhile empire, it’s worth taking one last trip down memory lane to cement in our minds how we wound up with a former venture and political darling not in the dock, but behind bars.
Nearly everything else that’s being built on or enabled by blockchains replaces something that’s already being done fairly well.
Yes, there are companies that facilitate crypto trades like Coinbase and Block (formerly Square).
But there’s no actual company that’s developed economic value by doing something brand new or better on a blockchain.
Energy drives the real-world economy, and unless Sam Altman or somebody successfully unlocks fusion and delivers energy that’s truly “too cheap to meter,” it’s going to remain a real asset with real value for some time.
In fact, it wouldn’t surprise me in the least if Satoshi had some kind of connection to the energy industry.
When electric-vehicle startup Telo Trucks announced its pint-sized pickup, people predictably went nuts.
Fleet customers went nuts, too.
“There’s this unspoken thing where fleet companies that do work in cities can no longer buy small trucks,” Jason Marks, Telo Truck’s co-founder and CEO, told TechCrunch.
“We will still want to address the early users, and we want to intermingle that with delivering to bigger fleet customers at the same time.”With that opportunity comes more funding.
Rivian is notably similar in that it’s chasing both consumers and fleet customers, though its production ramp is radically different.
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