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At this point professional trader groups are doing it. Sam Bankman Fried got super rich super fast (faster than if he just made an exchange without using the tr
by xiphias2 4y ago
At this point professional trader groups are doing it. Sam Bankman Fried got super rich super fast (faster than if he just made an exchange without using the trading data that he’s getting from it), I wouldn’t be suprised if he would be behind a big short like this.
Insider trading securities is illegal in US, but probably not in Bahamas, where FTX is located.
- 323 4y agoSam got super rich in valuation because he owns a large part of FTX. Like CZ from Binance. Sure, he also made a lot trading, but that's not how he became a billionaire. Also, US has a long arm, this is why foreign exchanges forbid US citizens. Insider trading has a very narrow scope, typically equities. To my surprise I learned that there is no such thing as insider trading in forex (from a legal point). But there are other laws that might apply to the client trading data you mentioned.
- Hendrikto 4y ago> I wouldn’t be suprised if he would be behind a big short like this. This event has enormous ripple effects across the whole ecosystem, and they will continue for quite some time. I do not think it would be in his interest to make 2 top 10 coins collapse spectacularly. He would have shot himself in the foot.
- xiphias2 4y agoJust look at the title. The peg had to break anyways, as it was a bad idea, so I support its breakdown as soon as possible before people really start to trust it. I'm a Bitcoin only person for a reason: the devs prioritize system security over adding new features.
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