4 ms·
From reports I've heard floating around, Alameda was making >$1M per day doing their good ol' prop trading. If that's true (and that's a big if) then all SBF ha
by churchill 4y ago
From reports I've heard floating around, Alameda was making >$1M per day doing their good ol' prop trading. If that's true (and that's a big if) then all SBF had to do was simply stick to the playbook. Do you prop trading on the side, help customers transact crypto via FTX.
How do you even mess it up this badly?
- zomglings 4y agoBy getting greedy and treating FTX user funds as capital to deploy in the prop trading firm.
- churchill 4y agoI know, right? Soon the defi community will be calling for the own version of Glass-Steagall. What is old is new again, I guess. Knowing when to stop is genius.
- cinquemb 4y agoSome how a bunch of cex's behind the doors lending ops now is defi? Meanwhile, some how magic internet money (abracadabra.money), with people bitching about their bad debt on chain for months is still solvent, while ftx is dumpsterfire...
- ETH_start 4y agoThis is not DeFi. This is CeFi that caters to crypto. The major DeFi apps have had no problems this cycle. So perhaps not surprisingly, Uniswap - which is a preeminent DeFi app - now has deeper liquidity on many important trading pairs than the largest CEXes: https://uniswap.org/blog/uniswap-v3-dominance https://uniswap.org/blog/uniswap-v3-dominance
- mccorrinall 4y agoLol, yes on spot, but no one trades spot! The sweet leverage lays within the future market.