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> Most of the money lost was from VC's and rich people, so we don't care that much A lot of normal people had money on FTX.
by amadeuspagel 4y ago
> Most of the money lost was from VC's and rich people, so we don't care that much
A lot of normal people had money on FTX.
- tekla 4y ago> A lot of normal people had money on FTX. and > Most of the money lost was from VC's and rich people Are not contradictory statements
- atdrummond 4y agoWhile true, the following context remains important: if you exclude prosumers/day traders and institutional investors (both of whom were taking advantage of FTX's stale quotes), FTX was not even a top 10 exchange in terms of user count or volume traded. That's part of why it is odd they were so highly regarded by VCs.