Does everybody think you lost all of your money to FTX?

I was at a wedding recently. I ran into a bunch of old friends. Whenever they asked what I do for a living, I said I bought some crypto early on and learned how to trade it.

They all reacted as if I had just lost a family member. They’d say things like “I thought it went bankrupt” or “didn’t a scammer run off with everybody’s money?”

I had to explain that it routinely crashes 80-90% and that’s where the big money is made. Scum bags generally show up after most of the big gains are made and eventually crash the market. It’s healthy for scammy exchanges like FTX to get flushed out. That’s generally how the market self regulates.