The Vibes From the 'Davos for Degens' as Bitcoin and Ethereum Plummeted
A Miami conference centered on reckless finance and trading, formerly known as WallStreetBets Live, drew a modest crowd of about 1,300 amid a sharp downturn in crypto markets. Star speakers Jordan Belfort and Martin Shkreli were absent, reflecting diminished enthusiasm as digital assets endure a turbulent period and WallStreetBets’ influence wanes. The event experienced a last-minute name change after Reddit, which owns the WallStreetBets trademark, issued a cease-and-desist, highlighting legal tensions over community ownership. Discussion shifted from speculative trading to asset tokenization, with skepticism expressed toward meme coins’ value. Though the atmosphere retained echoes of the anti-establishment GameStop saga, attendees noted the shift from niche rebellion to greater mainstream legitimacy, even as barriers to broader acceptance remain. Criticism emerged over high ticket prices and the sense that the event catered more to the corporate crowd than its grassroots origins. Former White House official Anthony Scaramucci, appearing via video, encouraged resilience in the face of industry scandals like FTX’s collapse, stressing the importance of integrity and perseverance in volatile markets.
