3 ms·
Maybe instead of blaming journalists for not exposing FTC we should wonder why multiple hedge funds invested millions into the venture without seeming to have c
by gerikson 4y ago
Maybe instead of blaming journalists for not exposing FTC we should wonder why multiple hedge funds invested millions into the venture without seeming to have caught on either.
- MichaelCollins 4y agoBlame is not a scarce commodity. There's plenty to go around.
- AlexandrB 4y agoI think all these failures point to why regulation exists in the traditional financial system. The information imbalance in a free market is sufficiently large that even large actors that "should know better" can be fooled for years.
- MacsHeadroom 4y agoThese failures point to why trustless public ledgers (blockchains) were invented. Exchanges that run on them (DEXes like Uniswap, Bisq, ShapeShift, etc.) are completely transparent, providing no room for the kind of information asymmetry which is required for frauds like FTX.
- deleted 4y ago[deleted]
- bombcar 4y agoThere's a feedback loop - puff piece gets printed, hedge fund invests, new puff piece about investment is printed, more funds invest, etc, etc. It plays the same way time and time again, another huge example is Theranos.
- jobs_throwaway 4y agoyou vastly overestimate the competency of many hedge funds. Its no surprise at all
- deleted 4y ago[deleted]