Michael Saylor opened up about the FTX saga, saying that SBF and 'most of the people in the crypto world were always guilty of the sin of shitcoinery.'
Saylor said that for years there has been a low-grade “boiling Guerrilla war” between the BTC community opposite the crypto community over industry practices such as, what he repeatedly calls, “shitcoinery."“There is something ethically broken about being able to issue your own unregistered security. Sam and most of the people in the crypto world were always guilty of the sin of shitcoinery.”
He attributes such behavior to his perceptions of the crypto community’s inherent problems, which are greed, arrogance and foolishness. From there, Saylor forayed into what he calls “the diabolical twist” in the FTX story, which entailed SBF generating billions off of air tokens and issuing himself billion-dollar loans off of user funds.
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