The Upside of a Gensler-Led Crackdown


This manipulation of the numbers likely helped bait more real investors into giving money to Block.One. But three years later, EOS has largely failed to live up to either its technical or financial promise, and currently has a market cap of only $4.7 billion, likely representing huge losses or opportunity costs for many EOS backers. Dan Larimer, the technical head of the project who was for a time held up as a Vitalik-like genius, has largely disappeared from the crypto scene. That means an awful lot of early crypto investment has more or less evaporated, instead of helping push the technology or ecosystem forward.



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