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It seems likely that the Kimchi arbitrage (arbitraging between exchanges in Korea an the rest of the world) was indeed massively profitable. He took a wrong tur
by Bootvis 4y ago
It seems likely that the Kimchi arbitrage (arbitraging between exchanges in Korea an the rest of the world) was indeed massively profitable. He took a wrong turn later.
- nullc 4y agoWhen I saw that he was using that as the claimed origin of his wealth I wrote him off as an almost certain fraud.
- Bootvis 4y agoWhy? He must have had some money of his own and some rich friends to set it up. So he had the means. Also, the difference was there and it was persistent so he had the opportunity as well.
- nullc 4y agoThere was very little volume available on those pricing discrepancies, making thousands per day without erasing the arb would have been a challenge but perhaps not impossible. The public is expected to believe he made over $10 million dollars per day on average on that trade. It's not credible.