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CM Ciaran Martin On Risky Business

“Apart from its highly questionable investment value, its fundamental worthlessness, its terrible security practices, and its complete funding of illicit crime all over the world, there's a lot to be said for it.”

Risky Business · Software Engineering & Infra · November 2026

“Apart from its highly questionable investment value, its fundamental worthlessness, its terrible security practices, and its complete funding of illicit crime all over the world, there's a lot to be said for it.” — Ciaran Martin, Risky Business

Context

Patrick Gray had just said he doesn't see the point of crypto and that at least you can turn gold into jewelry. Martin delivered this deadpan reply in a week dominated by the $6.3bn Binance theft.

Transcript

Risky Business Around 10:14 into the episode
Ciaran Martin

Yeah. And the hack looks pretty basic, as you've both illuminated. The money laundering experts seem pretty impressed by the way the money was laundered quickly. Yeah. Yeah. So that seems to be the very careful bit of it.

Patrick Gray

…of value. So as an investor, I don't get it either. It holds zero appeal, except as like a risk on if it's ripping, like maybe getting on the momentum. But like it doesn't do anything. You know what I mean? Like at least you can turn gold into jewelry, right? Yeah. So I just, I don't get it. Apart

Ciaran Martin

from its highly questionable investment value, its fundamental worthlessness, its terrible security practices, and its complete funding of illicit crime all over the world, there's a lot to be said for it.

James Wilson

Aside from that, it's great. Yeah,

Patrick Gray

so we're going to change the name of this podcast to the Diamond Hands Crypto to the Moon podcast. But look, look, moving on, because we've got to move on. We've got plenty to get through this week. There has actually been a crypto exchange in Brazil had an incident as well where they lost $46…

James Wilson

It truly is. The numbers are one thing, but what really gets me in the sort of the desensitization aspect is when even when like the, you know, the Binance was at six something billion dollars in the news, CZ, the former CEO, and then even the current CEO both came out and said, that's cool. We can…

Speaker names come from our own diarization. The position is estimated from where the line sits in the episode.

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