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In May, FTX.us announced stock & ETF trading: https://www.investopedia.com/ftxus-launches-stock-brokerage-5295707 https://www.investopedia.com/ftxus-launches-st

• mattbrewsbytes 4y ago
  > The exchange will provide no-fee brokerage accounts and commission-free trading. CEO of FTX, Sam Bankman-Fried, recently acquired a 7.6% stake in Robinhood, which also provides fee- and commission-free brokerage services. Sounds like it was to allow people to move funds from crypto into US stocks. If that was the case and that business also went bankrupt then I think people lose whatever stocks they "bought" via FTX Stocks because they likely just tracked prices and made it look like people "owned" a security by updating a record that says they bought it. If there were huge numbers of purchases of stocks through FTX by their customers but then FTX didn't actually purchase those stocks (like the recent findings that they didn't actually purchase the crypto) then I don't see how this makes any bit of difference to whatever stocks are in question. Its not like they were ever actually purchased and FTX is in bankruptcy so any FTX customers are left with legal avenues to get money back but it appears there's no money to get.
  • ProjectArcturis 4y ago
    If that's how they handled stock trades, that's (another) felony fraud.