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What amazes me about FTX is the speed and severity of the collapse. Never seen anything like it. The website and app simply disappeared overnight. The never sen
by themagician 4y ago
What amazes me about FTX is the speed and severity of the collapse. Never seen anything like it. The website and app simply disappeared overnight. The never sent statements via email or postal mail. If you had any money in the only proof you have some transactional emails and lines in the statements from the banks which you used to fund your FTX account.
It really is remarkable. I would think the hardest part about getting indictments at this point is collecting enough information to actually present to… anyone.
If you don't have physical or digital copies of statements, transactions, and account numbers and the company you are dealing with just comes up with some bogus, "We were hacked, it's all gone, we are now bankrupt, goodbye," and then proceeds to delete their website and disconnect their phone how do you prove that you even have a claim?
- jasonhansel 4y agoI suspect that this is surprising in part because we have so little firsthand experience with bank runs. Before the FDIC, a bank could collapse fairly quickly and with relatively little warning.
- muskmusk 4y agoI cant hold it in: Yeah it would be really convenient if there was some sort of global database that could hold all this data.