3 ms·
Wow, that's crazy. FTX was the company that saved a lot of crypto companies that were about to default on their liabilities in the first stages of crypto winter
by rafaelero 4y ago
Wow, that's crazy. FTX was the company that saved a lot of crypto companies that were about to default on their liabilities in the first stages of crypto winter. And now they are the one that are going under. Ironic.
- jerf 4y agoWith respect, this isn't "ironic" at all, and I don't mean this as some stupid quibbling about the definition because I mean this for all definitions. Those two facts are quite connected; maybe not completely directly, but they are far from independent events that just happen to be occurring in some unexpected manner. At the very least, it means I interpret the rescue as another level of razzle-dazzle rather than a rescue based on solid fundamentals. This doesn't surprise me too much, your mileage may vary.
- shapefrog 4y agoI took all my money, put it into a metal bin, poured petrol on it and set it alight. Now all I have is a metal bin, how Ironic
- tootie 4y agoWhat's ironic is that they did this at all. It's like they positioned themselves as the central bank of the crypto world. Only they skipped the "full faith and credit" part and made their contract be "hey, don't worry about it".
- marshmallowmad 4y agoI’m not convinced they’re going under. Is Alameda in trouble? Maybe, but FTX is basically having a bank run. Just because things are slow processing doesn’t mean they’re going under. SBF came out and claimed to have all customer deposits.