I don't think they even bought bitcoin and SBF admitted as much. They just took the money and send the user a fraudulent notice that an investment was purchased

I don't think they even bought bitcoin and SBF admitted as much. They just took the money and send the user a fraudulent notice that an investment was purchased when in fact no investment took place. This made the 'bank run' easy to trigger as they would have to purchases a bitcoin or other crypto every time a 'withdraw' happened to cover the lack of assets to withdraw for the account. https://twitter.com/DoombergT/status/1598457179211812865 https://twitter.com/DoombergT/status/1598457179211812865