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Can somebody explain to me what their endgame plan was? They stole what, $10B? Did they think that would just blow over or something? Follow-up question: Let's

Can somebody explain to me what their endgame plan was? They stole what, $10B? Did they think that would just blow over or something? Follow-up question: Let's say that 6-12 months ago Alameda went bust, and FTX didn't steal all their customers funds to bail them out. Presumably Alameda fails. Maybe FTX fails too depending on their state, but they return all their customers funds first. Is that possible? I dunno if any crypto-related company has ever shut down cleanly so I don't know how it would work. It seems like it would be a better option though, they'd have dented reputations from a failed hedge fund/business but y'know, not any fraud.

Cipater 4y ago
Started out making investments/bets with loan money thinking they would make it back with profit since they're oh so smart. Bets fail, they pour more money into it on hail Mary shots, they lose that too. Lenders want their money back so they use customer funds to pay them back because they have access to it and loans have to be paid back. Meanwhile they've also been enriching themselves personally, living large in the Bahamas and what not. Boils down to 2 things. 1. They were unscrupulous from day 1 and implemented a system with no restrictions or checks on their ability to move money around. In addition, they were comfortable with straight up lying to customers and lenders about the 2. They believed their own hype.