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SBF yesterday: "FTX is fine. Assets are fine." Can't trust a word out of this guy's mouth.
by jo6gwb 4y ago
SBF yesterday:
"FTX is fine. Assets are fine."
Can't trust a word out of this guy's mouth.
- kwere 4y agoFunds are Safu -Bizonacci
- pranshum 4y ago"Every banker knows that if he has to prove he is worthy of credit, in fact his credit is gone." - Bagehot
- BLanen 4y ago"Exchanges"(Exchanges and brokerages in one) are not supposed to be banks. Everything can be withdrawn from brokerages without them being insolvent.
- pranshum 4y agoIf the brokerage provides leverage to its customers, it can be subject to the same sort of bank runs that a normal bank can.
- edouard-harris 4y agoIndeed. And in this case, it was from one day to the next.
- AlexMoffat 4y ago+1 That's a great book.
- ww520 4y agoThe assets are fine. Just the value of the assets is not sure.
- ploppyploppy 4y agoI'm really glad this shyster is having light shed on his behaviour. It's always been odd to me how FTX made it so big so quickly.
- xur17 4y agoIf I've learned anything, the moment you start seeing posts like "funds are safe", "withdrawals are flowing" from an exchange, it's game over, and time to gtfo if it's not already too late.