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not sure why this is flagged, some of this analysis is accurates the problem was FTX customer deposits ended up being borrowed by Alameda (using as collateral
by texaslonghorn5 4y ago
not sure why this is flagged, some of this analysis is accurates
the problem was FTX customer deposits ended up being borrowed by Alameda (using as collateral ftt that was fraudulently created and then loaned to them), if no one did the ftt fraud then who knows what might have happened.
- hn_throwaway_99 4y agoI downvoted because of this: "As far as I can tell if they hadn't done that Alameda would've died and FTX would've just kept being a good exchange." Read the report from the new FTX CEO, https://www.marketwatch.com/story/this-situation-is-unprecedented-10-crazy-things-detailed-in-ftxs-bankruptcy-filing-11668710122 https://www.marketwatch.com/story/this-situation-is-unpreced... It was a total fucking clown show from top to bottom.