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I'm still like 50/50 that SBF can sustain any of the rescuing that he's doing. The crypto space so rife with fraud and con games, I don't see why he's any diffe
by tootie 4y ago
I'm still like 50/50 that SBF can sustain any of the rescuing that he's doing. The crypto space so rife with fraud and con games, I don't see why he's any different. He has been much more disciplined in keeping his business from overextending, but he's just positioning himself to be king of a trash heap. I'm sure he comes out of this plenty rich, but by comparison Jeff Bezos built multiple very real and very valuable enterprises and SBF has not.
- favflam 4y agoI saw an internal marketing pitch for Alameda somewhere on twitter. It appears that SBF made the decision to be delta neutral with respect to crypto-currencies. So, FTX/Alameda were cashing out into USD when crypto reached ATHs while other firms in the space kept crypto on their balance sheet. Now that crypto prices have collapsed, FTX/Alameda have the USD war chess to go on a shopping spree for anything/anyone that were not cashing out during the boom.
- aaaaaaaaata 4y agoIf you believe SBF hasn't built anything valuable, you've missed the whole story.
- heurist 4y agoFTX seems to have come out of nowhere and is going in every direction. I don't see how it's sustainable for them (without knowing financials. They seem to have a lot of large investors).