SBF 关于 DeFi 监管的说法正确吗？

FTX 创始人因其加密货币监管提案而受到严厉批评。但所谓有效的利他主义者只是务实而已。

FTX founder Sam Bankman-Fried's political campaign spending has been a hot topic of discussion, with the billionaire initially stating his intention to spend upwards of $1 billion, a plan he later downplayed as a “dumb quote.” To date, SBF has spent about $40 million to back Democrats and Republicans running for office across the country.

FTX 创始人萨姆·班克曼·弗里德 (Sam Bankman-Fried) 的政治竞选支出一直是讨论的热门话题，这位亿万富翁最初表示打算支出超过 10 亿美元，后来他淡化了这一计划，称其为“愚蠢的报价”。迄今为止，SBF 已花费约 4000 万美元支持全国范围内的民主党和共和党竞选公职。

According to CNBC, the majority of Bankman-Fried's political recipients have pulled ahead in primary voting, thanks in part to his support. However, the former Wall Street quant believes there's a limit on what money can buy in general elections.

据 CNBC 报道，班克曼-弗里德的大多数政治获奖者在初选投票中取得了领先，这在一定程度上要归功于他的支持。然而，这位前华尔街分析师认为，在大选中金钱能买到的东西是有限的。

“At some point, when you've given your message to voters, there's just not a whole lot more you can do,” Bankman-Fried said in an interview with Politico. “You can spend more time on it and more messaging, more money, more anything else [but] you're not accomplishing anything more.”

班克曼-弗里德在接受 Politico 采访时表示：“在某种程度上，当你向选民传达了你的信息后，你就无能为力了。” “你可以花更多的时间、更多的消息、更多的钱，或者更多的东西，但你不会再取得任何成就。”

Bankman-Fried subscribes to the political theory of “effective altruism,” where people build wealth to give away either by making targeted donations now, or through the magic of compound interest, founding well-endowed charities later in life. I guess he reckons his cash is better spent elsewhere than on a TV ad in Scranton, Pennsylvania. But where will his money and influence go? The trouble with effective altruism is that it's a way of thinking that allows people to rationalize any of their actions.

班克曼-弗里德赞同“有效利他主义”的政治理论，即人们要么通过现在进行有针对性的捐赠，要么通过复利的魔力，在以后的生活中建立捐赠丰厚的慈善机构来积累财富并进行捐赠。我猜他认为他的钱花在其他地方比花在宾夕法尼亚州斯克兰顿的电视广告上更好。但他的金钱和影响力会流向哪里呢？有效利他主义的问题在于，它是一种允许人们合理化自己行为的思维方式。

Bankman-Fried's political pragmatism was also on display in his recently published crypto-regulatory manifesto “Possible Digital Asset Industry Standards.” The blog, what SBF called “an industry norms manual,” outlined a path for crypto industry self-regulation. Somewhat surprisingly, SBF's industry prescriptions were widely panned.

班克曼-弗里德的政治实用主义也体现在他最近发布的加密货币监管宣言“可能的数字资产行业标准”中。该博客被 SBF 称为“行业规范手册”，概述了加密行业自我监管的路径。有点令人惊讶的是，SBF 的行业处方遭到了广泛的批评。

It covered seven areas where crypto might write rules for itself while it waits for clearer regulations from above. Some are dead simple: more disclosures around crypto advertising, regular audits for cash-backed stablecoins and a three-step checklist for crypto exchanges determining whether a token they want to list is a security.

它涵盖了加密货币在等待上面更明确的法规期间可能为自己制定规则的七个领域。有些非常简单：围绕加密货币广告进行更多披露，对现金支持的稳定币进行定期审计，以及加密货币交易所的三步清单，以确定他们想要列出的代币是否是证券。

Others show how crypto has rubbed off on SBF: He wants a standard where hackers are guaranteed 5% of the bounty if they exploit a protocol – assuming they give the rest back. (That could incentivize more ethical hacking, one of the ways code enthusiasts think the industry literally evolves.)

其他人展示了加密技术如何影响 SBF：他想要一个标准，保证黑客如果利用某个协议就能获得 5% 的赏金——假设他们返还剩余的部分。 （这可能会激励更多的道德黑客行为，这是代码爱好者认为该行业真正发展的方式之一。）

But SBF ran into trouble on social media when writing about decentralized finance (DeFi). He put forward a “suitability test” that would restrict access to crypto, sort of like qualified investor rules based on net worth and other factors in the traditional market. This flies in the face of crypto's reigning open-source ethos: equal access for all.

但 SBF 在撰写有关去中心化金融（DeFi）的文章时在社交媒体上遇到了麻烦。他提出了一项“适合性测试”，限制对加密货币的访问，有点像传统市场中基于净资产和其他因素的合格投资者规则。这违背了加密货币盛行的开源精神：人人平等。

He also initially proposed a licensing system for websites that interact with DeFi and other crypto protocols, and an automatic blacklist to keep sanctioned players from using centralized services. Adam Cochran of Synthetix and Yearn Finance called the rules “a moat that lets centralized entities control at least part of the flow into DeFi.”

他还最初提出了一个针对与 DeFi 和其他加密协议交互的网站的许可系统，以及一个自动黑名单，以防止受制裁的玩家使用中心化服务。 Synthetix 和 Yearn Finance 的 Adam Cochran 称这些规则是“一条护城河，让中心化实体控制至少部分流入 DeFi 的资金”。

In response to the draft, many noted that SBF seemed less concerned with the freedoms DeFi provides than the revenue centralized firms can milk from the industry. Industry gossip site Rekt, which wrote that he was “positioning himself as the U.S. government-approved gatekeeper” to crypto, and elsewhere was compared to a drug kingpin.

针对该草案，许多人指出，SBF 似乎不太关心 DeFi 提供的自由，而更关心中心化公司可以从该行业榨取的收入。行业八卦网站 Rekt 写道，他“将自己定位为美国政府批准的加密货币看门人”，而在其他地方则被比作毒枭。

The most cogent arguments came from Bitcoin OG and ShapeShift founder Erik Vorhees, who noted the self-enforced rules and blacklists would only serve established exchanges that could afford to pay for compliance. “You can advocate Effective Altruism, or you can advocate banning 80 million innocent Iranians from the future of global finance,” Voorhees tweeted. “You can't do both.”

最有说服力的论点来自 Bitcoin OG 和 ShapeShift 创始人 Erik Vorhees，他指出，自我执行的规则和黑名单只会服务于有能力支付合规费用的成熟交易所。 “你可以提倡有效的利他主义，或者你可以提倡禁止 8000 万无辜的伊朗人参与全球金融的未来，”沃里斯在推特上写道。 “你不能两者兼得。”

SBF took the criticism in stride, reworked parts of his draft and wrote a long Twitter thread addressing particular concerns from a number of critics. The heart of the debate, however, cannot be ironed over. SBF is a realist who sees regulation coming, and wants a hand in shaping it.

SBF 从容地接受了这些批评，修改了部分草案，并写了一条很长的 Twitter 帖子，解决了一些批评者的特殊担忧。然而，争论的核心却无法得到解决。 SBF 是一位现实主义者，他预见到监管即将到来，并希望参与制定监管。

This will always offend the ideologically driven crypto advocates, who see crypto itself as a means of bettering the world. For his part, SBF has never fully embraced the crypto mindset – and he's been on recording saying as much. For him, crypto is a means to an end: building wealth so those funds can be redirected. (Remember the DeFi infinite “ box” fiasco?)

这总是会冒犯受意识形态驱动的加密货币倡导者，他们将加密货币本身视为改善世界的一种手段。就 SBF 而言，他从未完全接受加密货币思维——他一直在录音中这么说。对他来说，加密货币是达到目的的一种手段：积累财富，以便可以重新分配这些资金。 （还记得 DeFi 无限“盒子”惨败吗？）

Although there were still criticisms of the toned-down draft, SBF clarified that he was talking about centralized on-ramps into crypto, not self-executing protocols. “It is not making claims about what DeFi devs, smart contracts, and validators must do,” Bankman-Fried wrote. “It’s looking to eventually establish guidelines about how e.g., FTX’s platform – or Fidelity's – could interface with DeFi contracts.”

尽管仍然有人对缓和的草案提出批评，但 SBF 澄清说，他谈论的是加密货币的集中入口，而不是自动执行协议。 Bankman-Fried 写道：“它并没有对 DeFi 开发人员、智能合约和验证器必须做什么做出要求。” “它希望最终建立关于 FTX 平台或 Fidelity 平台如何与 DeFi 合约交互的指导方针。”

The debate over whether crypto should capitulate and erect barriers to entry in the name of protecting

关于加密货币是否应该投降并以保护的名义设置进入壁垒的争论