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> All because he exploited a momentary arbitrage in Japanese Bitcoin exchanges. Originally the story was korean exchanges; he changed to saying Japanese, presu
by nullc 4y ago
> All because he exploited a momentary arbitrage in Japanese Bitcoin exchanges.
Originally the story was korean exchanges; he changed to saying Japanese, presumably after too many people pointed out the korean story was impossible. (The Japanese story was also more or less impossible, they could have made a bit of money maybe even millions but not the $10+bn he claimed)
- dahdum 4y agoThey made ~$10-30m from the Japan arb from what I've read, mostly blew it, but it still got Alameda off the ground. The Korean arb was the initial goal but proved too difficult. Both of these arbs were glaringly obvious and talked about constantly, but difficult to pull off due to banking hurdles in both countries.