At a conference dedicated to the riskiest traders in finance, Miami’s crypto scene appeared far different than during its pandemic-era boom. A crypto conference in Miami was subdued amid Bitcoin’s latest slide. They didn’t have much to do, and all the while, Bitcoin and Ethereum plunged alongside precious metals, beginning a crypto market slide that would get much worse in the following days. The conference formerly known as WallStreetBets Live was still slated to host names like Jordan Belfort, the former stock broker who inspired a generation of so-called degens through his life’s portrayal in The Wolf of Wall Street.
Martin Shkreli’s scheduled session also fell through, leaving attendees without the controversial investor known as the Pharma Bro. The same “us vs. them” mentality that defined the GameStop saga of 2021 still smoldered. A Reddit spokesperson told Decrypt that it “occasionally trademarks the names of certain communities to protect the creativity and interests of the users.” Rogozinski argued that Reddit is mostly concerned with how WallStreetBets has expanded beyond its platform.
Belfort and Shkreli, like Scaramucci, weren’t able to attend in-person. When FTX still had the naming rights to the arena where the Miami Heat play, he was celebrated as someone who could turn the city into a major crypto hub. His conviction for orchestrating a multibillion-dollar fraud would later stain the industry. U.S. courts have ruled that Reddit owns the trademark to WallStreetBets, and in December the Supreme Court declined to review Rogozinski’s lawsuit.
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