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Well, FTX is unique in the crypto space in that there has never been a loss of funds anywhere near the magnitude of this debacle. Odd to me that anyone would l

Well, FTX is unique in the crypto space in that there has never been a loss of funds anywhere near the magnitude of this debacle. Odd to me that anyone would look at a company that managed to lose billions of customer and investor dollars under extremely suspicious circumstances, and then react dismissively to credible allegations of fraud by framing it as an attempt to "heap scorn".

barathr 4y ago
Not really what I'm saying -- it seems that there was fraud here. But it's a bit strange to see this from Coindesk, which has undoubtedly reported in glowing terms about plenty of other companies doing fraud in this space.
- valar_m 4y ago
  That seems even more odd to me. You're saying that, because it is possible that some undefined company that Coindesk previously spoke positively about may be committing fraud, their coverage of an entirely different, unrelated company that lost billions under highly suspicious circumstances should be questioned? That can't be what you're saying, right?
  - barathr 4y ago
    Instead, I'm saying that Coindesk is a stopped clock here (maybe not the clearest metaphor, I know) and knows it -- it's right about FTX but it's strange that they (and plenty of others) have been pumping lots of other highly suspect gambits and companies over the years without much reflection about it. We won't know without the benefit of hindsight which specific others are outright scams, but it seems like there may be quite a few.
    - watwut 4y ago
      It is damage control mode. Heap scorn on FTX to look righteous. Ignore other suspects and continue pushing them as if they were totally different. Work hard to keep trust in crypto high basically and act as if those caught were outliers
jasonhansel 4y ago
The collapse of Mt. Gox was of a reasonably comparable magnitude IIRC (around half a billion). FTX is the biggest, but it's not exactly unprecedented.

barathr 4y ago

Not really what I'm saying -- it seems that there was fraud here. But it's a bit strange to see this from Coindesk, which has undoubtedly reported in glowing terms about plenty of other companies doing fraud in this space.

valar_m 4y ago
That seems even more odd to me. You're saying that, because it is possible that some undefined company that Coindesk previously spoke positively about may be committing fraud, their coverage of an entirely different, unrelated company that lost billions under highly suspicious circumstances should be questioned? That can't be what you're saying, right?
- barathr 4y ago
  Instead, I'm saying that Coindesk is a stopped clock here (maybe not the clearest metaphor, I know) and knows it -- it's right about FTX but it's strange that they (and plenty of others) have been pumping lots of other highly suspect gambits and companies over the years without much reflection about it. We won't know without the benefit of hindsight which specific others are outright scams, but it seems like there may be quite a few.
  - watwut 4y ago
    It is damage control mode. Heap scorn on FTX to look righteous. Ignore other suspects and continue pushing them as if they were totally different. Work hard to keep trust in crypto high basically and act as if those caught were outliers

jasonhansel 4y ago

The collapse of Mt. Gox was of a reasonably comparable magnitude IIRC (around half a billion). FTX is the biggest, but it's not exactly unprecedented.