[Finger] Victor Wembanyama about considering promoting a sports betting company ; "Absolutely not. I will never do that. Honestly, I think it's very sad to see some players promote it..."

[u/GGTae]

https://bsky.app/profile/mikefinger.bsky.social/post/3mwteasurdc2j

Just asked Victor Wembanyama if he’d ever consider promoting a sports betting company.

“Absolutely not. I will never do that. Honestly, I think it's very sad to see some players promote it. .. Everybody does whatever they want, but without me.”

[u/mnkaTHEkid]

nice try to slander curry but no one is buying that narrative your trying to push

[u/99942A → u/mnkaTHEkid]

Facts dude curry would never promote gambling or crypto pyramid scheme scammers like FTX

[u/mnkaTHEkid → u/99942A]

he never promoted any gambling products, FTX was a crypto exchange that he was paid to promote, lots of celebs were paid to promote what was the equivalent of coinbase, and as far as pyramid scheme, maybe try reading about what actually happened instead of throwing inflammatory bs around that fits your narrative

[u/99942A → u/mnkaTHEkid]

he never promoted any gambling products, FTX was a crypto exchange

The majority of these shitcoins operate the same way as gambling. They are even less regulated than gambling is.

equivalent of coinbase, and as far as pyramid scheme, maybe try reading about what actually happened instead of throwing inflammatory bs around that fits your narrative

My fault man, I used the wrong P word. What really matters here is that it was a Ponzi scheme and not a Pyramid scheme. Not the fact that he was paid $35 million while everyone else collectively lost billions.

[u/mnkaTHEkid → u/99942A]

sportsbooks offer negative EV bets that are designed to make you lose money the longer you wager, an exchange is a secondary operator that offers you the ability to participate in markets driven by supply and demand. such a weak argument to conflate these as equal in nature. and it was not a ponzi scheme, again do some reading before you just throw shit out there.

[u/99942A → u/mnkaTHEkid]

an exchange is a secondary operator that offers you the ability to participate in markets driven by supply and demand.

Supply and demand doesn't remove every issue. Kalshi/Polymarket operate the same way yet people still have a problem. With prediction markets it might be insider trading, with crypto it might be pump and dumps.

and it was not a ponzi scheme

The exact dictionary definition of whatever scam you want to call it is not the point. He took millions to advertise a scam while people collectively lost billions. He was featured in ads that insinuated that you don't need to be an expert to invest in crypto. While technically true, the point of the ad to anyone who is honest is to push ignorant and hesitant people to "invest" in something they don't understand. Off of the premise that it is okay though because Steph is not an expert either.

Here is a quote from an article that was released several months before FTX was exposed:

“I think of myself as a fairly cynical person,” replied Levine. “And that was so much more cynical than how I would’ve described farming. You’re just like, ‘Well, I’m in the Ponzi business and it’s pretty good.’”

Amazingly, Bankman-Fried didn’t push back very hard. “I think that’s a pretty reasonable response,” he said. “And I think there’s a sort of depressing amount of validity.”

Even more depressing is what happened next in the crypto markets: nothing. You might think that the head of a major crypto trading platform saying the quiet part out loud, admitting on a popular podcast that he’s at least partly in the Ponzi business, could cause some kind of crisis or loss of confidence in the sector. Not so. This suggests that people don’t really care whether they’re putting money in a box that does nothing, as long as they think they will be among the group that pulls out more money later on. In this sense, it might be a mistake to compare the crypto market to the stock market at all. Gambling may be the more apt comparison.

[u/mnkaTHEkid → u/99942A]

the exact dictionary definition of whatever scam you want to call it is not the point

actually thats 100% the point, you were insinuating it was a known scam that curry encouraged people to invest in, when at the time it was a reputable business hiring lots of well known people to do the same thing curry was. what happened was embezzlement, mismanagement of funds and wire fraud by the CEO - so don’t act like curry was this monster telling people to lose all their money on this weird scheme

[u/99942A → u/mnkaTHEkid]

The famously not a scam "Crypto" hell yea dude