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Every now and then, a figure emerges who perfectly epitomizes society's major flaws, humankind's inherent avarice, and our cross-cultural tendency to blame others for our problems. Obviously, that individual is polarizing. But he's also oddly popular.

Martin Shkreli, a former hedge fund manager who became a convicted felon and a cult-like social media troll, was recently freed from prison. Shkreli enjoys playing the nearly mythic figure who represents everything that is wrong with society.

He's also gotten the attention of the crypto business, which is known as much for its troubles as it is for its potential solutions. Crypto appears to have snatched his attention — in what appears to be an obvious match.

The former pharmaceutical executive, who was born in Brooklyn, New York, was released from federal prison in New York on Wednesday after serving four years of a seven-year sentence for securities fraud and was transported to a halfway home. Shkreli is notorious for purchasing the rights to Daraprim, an antiparasitic medicine, and raising the price to $750 per tablet from $17.50.

Although drug price increases are common in the for-profit health-care and research industry in the United States, Shkreli gained instant notoriety for what appeared to be obvious price gouging of a life-saving drug that the World Health Organization lists as an essential medicine for pregnant women, the elderly, and HIV-positive patients.

Federal and state health regulators said Shkreli tried to build a monopoly over this drug by keeping generic versions off the market in a nonjury trial on multiple financial schemes. He explained that the extra cost would be paid by insurance companies rather than individuals, and that the revenues would be used to develop new medical innovations.

He was liberal in his abuse and consternation. He was renowned for making incendiary statements on social media, such as claiming he wished he had hiked the drug's price even higher. He paid $2 million for a single Wu-Tang Clan album recording and kept it under lock and key, as the rap group requested. (Shkreli paid part of his $7.4 million fine by selling the album "Once Upon a Time in Shaolin" to the government, which is currently owned by a decentralized autonomous organization.)

Shkreli wants to return as a troublemaker and hornet nest kicker after his recent release from low-security jail. Shkreli began posting under an alias just hours after arriving into his court-ordered halfway house. The account, @Enrique5060782, was suspended for making no effort to conceal Shkreli's true name. (I presume much to his lawyer's displeasure, who indicated upon Shkreli's release that his client would not be accessible for remark.)

A proclivity for squabbles

By Friday, everyone in the crypto world knew who Enrique was and what he was all about: crypto. Shkreli spoke at a Twitter Spaces audio event on Saturday evening, revealing that he used Uniswap while in prison, believes ether (ETH) will outperform bitcoin (BTC), and thinks "utility tokens" are a good concept.

Shkreli's comments on the Saturday night stream, which drew over 3,000 listeners, and elsewhere prove that he is not just well-informed but also knows how to stir up trouble. He said he's preparing a non-fungible token (NFT) drop, that Enrique isn't his only alternate avatar, and that he's working on other big-name decentralized finance (DeFi) projects as a developer or investor.

"It's kind of insane," Shkreli said in the Twitter Spaces, "that I can't acquire a Tesla share without going through this [Securities and Exchange Commission] bureaucracy and all these other hurdles." "I hope there are individuals breaking into the silo and attempting to destroy it permanently."

He was referring to "Apple coin and a Tesla coin," which is what fellow failed entrepreneur Do Kwon of the imploded Terra network was aiming for with the unregulated securities exchange Mirror Protocol.

During his Saturday night ramble as Enrique, Shkreli chatted with A16z founder Marc Andressen and other venture capital heavyweights, as well as recording artist and Web 3 fanatic Sia. A representative from Substack is said to have asked to join the newsletter platform.

Many businesspeople regard Shkreli as a "public intellectual" worth listening to, citing his intelligence. He completed high school in two years and went on to work for a top hedge fund before launching his own.

His self-awareness is admired by some: He has affectionately referred to himself as "Pharma Bro," a quip that has appeared in numerous headlines. And he is compelling when he speaks on a range of topics. He claimed that prison wasn't too bad. He has previously stated that he has "an extraordinarily strange brand of sarcasm" and that it's "great to see people become so animated."

In 2015, he told Vanity Fair, "Authenticity is incredibly essential to me." This is a term that is also used in cryptography.

An industry that thrives on conflict

Although no one can speak for the whole crypto business, Shkreli has received a mostly positive response. Despite getting a barrage of insults and reminders that he's a convicted felon during his brief Twitter appearance, the prevailing attitude was one of sheer joy.

"Martin Shkreli from prison basically knows more about Crypto than 99 percent of you." He's talking about stepn and [proof-of-stake]. There are none. "Autism is free!" Autism Capital's Twitter account has been updated.

It makes sense for Shkreli to get into crypto. Controversial people are tolerated and even celebrated in the industry. It easily forgives scammers and allows people to create second lives - whether under a pseudonym or not. Onlookers might see Shkreli's unabashed embrace of cryptocurrency and its reciprocity as a reference to cryptocurrency's sinister or simple characteristics. Scams are all over the place. In some ways, these folks are correct. If "Pharma Bro" becomes into Crypto Bro, that says something about crypto's goals and objectives.

However, at its best, crypto is about financial inclusion. The goal of decentralized finance, bitcoin, and the various ways blockchain is being used is to remove gatekeepers and enhance access.

This means that crypto accepts both the good and the evil by default, but not necessarily in practice. It's a machine that anyone can operate, regardless of their goals. This is a radical interpretation of tolerance, but it lies at the heart of the American experiment in free and open speech and association, which is protected by the First Amendment.

However, this does not imply that the industry must accept Shkreli. He's unpleasant and a criminal who makes a show of drinking Chateau Lafite Rothschild wines. Despite his claims that DeFi is a tool for "freedom," it's evident that he's solely interested in regaining his riches.

Shkreli has been barred from the pharmaceutical industry for the rest of his life and will not be able to lead a publicly traded company. Shkreli was described as a "chaotic, dishonest, and untrustworthy corporate leader" by the judge who presided over his trial in her judgment. He bankrupted at least two hedge funds, concealed gains, and lied in his communications and business dealings.

Although he has described himself as a Robin Hood — a capitalist eager to steal from the wealthy to serve the poor – there is no reason to believe him in his pharmaceutical business. Despite the fun he may provide, he's an orator, possibly a sophist, and it's probably for the best that he's banned from Twitter.

I wouldn't want or be able to prevent Shkreli from profiting from crypto, and he shouldn't be blamed for the industry's shortcomings. He could, of course, have changed. However, when that time comes, people should think about what he builds and how he markets it.

Shkreli once claimed, "I bought an Enigma machine." "I'm torn since it's a Nazi artifact." It's like having your own gas chamber... But it serves as a continual reminder that knowledge should be used for good, even if the process is unpleasant... But if you hold your nose while proving it, you'll arrive at the appropriate location." Allow the enigma to perform and hopefully do no harm.

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