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As I understood it FTX did have a US subsidiary (which is what I assume was CFTC regulated entity), but that all the shenanigans were offshore. It’s the same re
by balderdash 4y ago
As I understood it FTX did have a US subsidiary (which is what I assume was CFTC regulated entity), but that all the shenanigans were offshore. It’s the same reason that when Lehman folded, the US broker dealer clients were relatively unscathed vs European broker dealer clients who lost a pile due to different (laxer) regulatory regime
- darth_aardvark 4y agoFTX US collapsed too, as did Alameda Research (the hedge fund that was supposed to be totally separate and theoretically as regulated as any hedge fund).
- balderdash 4y agoWhich from the article is not FTX derivatives, the regulated entity.