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FTX loaned the deposits to Alameda, and Alameda invested them. It's totally different from FTX making the investments themselves! /s
by jaywalk 4y ago
FTX loaned the deposits to Alameda, and Alameda invested them. It's totally different from FTX making the investments themselves!
/s
- sailplease 4y agoA loan is an investment.
- CuriousCosmic 4y agoIt's somehow even worse given that according to SBF, they didn't even loan all the deposits. Something like $8B of them were being deposited to Alameda directly from users without their knowledge. https://cdn.vox-cdn.com/uploads/chorus_asset/file/24202784/Screen_Shot_2022_11_16_at_7.32.22_AM.png https://cdn.vox-cdn.com/uploads/chorus_asset/file/24202784/S...