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the "crypto recovery fund" is not a govt bailout, it's binance investing private money into firms that are struggling to survive in the short-term: https://news

• JumpCrisscross 4y ago
  > Binance investing private money into firms that are struggling to survive in the short-term It’s a fake suggestion since the problem currently facing crypto is insolvency, not illiquidity. No amount of money would make FTX a good asset beyond the value of the cash itself.
  • jstrong 4y ago
    > No amount of money would make FTX a good asset whatever your opinion of crypto, exchanges have generally been great businesses. lots of small fees add up to significant revenue. Binance generated $20 billion revenue in 2021.
    • JumpCrisscross 4y ago
      > exchanges have generally been great businesses. lots of small fees add up to significant revenue. Binance generated $20 billion revenue in 2021 Lots of things are good businesses, that doesn’t give a neighbouring trash pile value. Any amount of cash pumped into FTX would be better spent capitalising a new exchange. They’re not only insolvent, but fraudulently so in a very public way.