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I don't really see a reason to be any more trusting in Coinbase than in FTX, since as far as most people were concerned, FTX was a completely reputable company
by Hamuko 4y ago
I don't really see a reason to be any more trusting in Coinbase than in FTX, since as far as most people were concerned, FTX was a completely reputable company just a month ago. Well, as reputable as crypto companies go anyways.
And now we have reports that FTX had a backdoor to "alter the company's financial records without alerting other people, including external auditors".
https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/ https://www.reuters.com/markets/currencies/exclusive-least-1...
- deleted 4y ago[deleted]
- julianeon 4y agoWell, for one thing, Coinbase has a board, and FTX did not. They also had no CFO. They were not “completely reputable” by any reasonable standard; it’s just that no one cared at the time.
- CaptainZapp 4y ago> Well, for one thing, Coinbase has a board, and FTX did not. So did Enron.
- nibbleshifter 4y agoJust listening to the bossman of FTX in interviews and reading about him was enough to make me swerve anything he touched. Seemed like a shop of cowboys.
- bagels 4y agoFried?
- nibbleshifter 4y agoYeah, everything about him screamed "don't trust this man with your funds", and the stuff that has come out since has just reinforced that. In many ways he reminded me of the MtGox dude.
- nytesky 4y agoThis Mt Gox dude? https://qz.com/a-crypto-billionaire-is-joining-the-race-for-private-sp-1849525299 https://qz.com/a-crypto-billionaire-is-joining-the-race-for-... If he is shady, are you implying Gox was an inside job like FTX?
- lupire 4y agoHe has gotten a lot shadier since his MtGox days in thebesly days of crypto, when arguably he could have been merely ignorant.
- api 4y agoI’ve been seeing him called “Fried Bank Man”.