Do Not Invest in Non-Bitcoin Crypto: NYDIG's Ross Stevens
"Life is too short to do anything other than partner with people you like, trust, and would be ferociously proud to be together with in a foxhole when the bullets are flying," said NYDIG founder and Chairman Ross Stevens, explaining why his company has no exposure to now-bankrupt FTX.
In an essay titled, "Through the Looking Glass," Stevens took note of a number of red flags which had NYDIG over the years passing on numerous "opportunities" to "partner" with not just FTX, but also failed platforms like Three Arrows Capital, Celsius, and others. "When you cannot satisfy yourself with straightforward answers to straightforward questions such as 'how do you make money,'" he wrote, "run, do not walk away."
NYDIG, said Stevens, will remain a Bitcoin company, and he advised his readers not to invest in non-Bitcoin crypto or non-Bitcoin decentralized finance (DeFi).
"Bitcoin cares about Sam Bankman-Fried or Changpeng Zhao or me or you as much as gravity does," concluded Stevens. "Every 10 minutes a new bitcoin block was produced. Every 10 minutes. Every 10 minutes."