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I think the "gambling" you referred to was their point, not the accounting games they subsequently played to try and get back into the black.
by JamesianP 4y ago
I think the "gambling" you referred to was their point, not the accounting games they subsequently played to try and get back into the black.
- simiones 4y agoMy point is that the real problem isn't that Alameda was over-leveraged or gambling, it's that SBF stole user funds from FTX to try to rescue Alameda. This is not what (some of) those other companies did.
- naijaboiler 4y agofrom SBF perspective Alameda & FTX are the same. Yeah yeah they are separate legal entities, but in actual practise, one market-made for the other, and he treated them like one is left hand, the other is right hand So yeah Alameda gambled, overleverated and lost money just like nearly every other financial crises in history, SBF then fraudulently moved money from FTX to cover Alameda's gambling losses. I won't be shocked if FTX has alway been the source of funding for Alameda's gambling, just that Alameda was winning when everything was rosy. then the crypto market turned