“What do you think, we’re going to sit in a corner and cry?” As the crypto community grapples with the fall of FTX, charlie_mccann watches them grieve. From 1843 magazine
’s orgies in the Bahamas,” he deadpanned.Miami is often frequented by the crypto set, who come to conferences and fairs like Art Basel to hustle and party. The cluster of events at the end of 2022 lacked the energy of those held during crypto’s boom years. Swanky clubs across the city waited in vain for an influx of squillionaires. A particular species of crypto booster who had circulated in previous years – gym-hardened, and usually called Chad – was nowhere to be seen.
But the event I attended was surprisingly buzzing. I’d noticed it on an Excel spreadsheet of parties posted to a tech conference’s Telegram channel. The venue was described on the invitation as a “Miami Beach mansion”, and unlike much else in cryptoland, it lived up to the hype. A modernist villa with gigantic windows and a pool, it overlooked Biscayne Bay. Inside, a framed photograph of Pamela Anderson laying on a beach towel hung on a wall.
Brian Smocovich, who described himself as a blockchain consultant, seemed to me like he might be approaching the second-to-last stage, depression. “We feel betrayed,” he said to me, from his perch on a cream leather sofa at Miami Web3, another conference.
It may take a while for the crypto set to move on to the last stage of grief, acceptance. Fewer people are showing up to the party: the organisers of DCentral booked a 5,000-seat venue but just 3,000 people turned up. Some of those who didn’t come to Miami may have lost their savings; maybe they’re still grieving. As many as 1m people lost $8bn between them on1843 magazine
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