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I think you're right that FTX US was likely solvent. But had SBF not been forced to file bankruptcy you can bet he would have gambled all of FTX US to try and
by notch656c 4y ago
I think you're right that FTX US was likely solvent. But had SBF not been forced to file bankruptcy you can bet he would have gambled all of FTX US to try and bail out FTX Int'l to avoid 100+ years in jail. I think he was just saving that bet for last as it was the most dangerous one.
- SilasX 4y agoI honestly don't know what to think, on the FTX US issue. Another US-regulated subsidiary of FTX, LedgerX[1], remained solvent and had not let SBF gamble customer assets, and was (somewhat famously) left out of the bankruptcy[2]. And I'm constantly hearing that US regulations are effective at preventing blatant financial fraud, so why would they protect one US-regulated subsidiary but not another? [1] Though it was created independently of SBF/FTX and only purchased by them. (Note: not to be confused with Ledger hardware wallets.) [2] https://arstechnica.com/tech-policy/2022/11/sam-bankman-frieds-32-billion-ftx-crypto-empire-files-for-bankruptcy/ https://arstechnica.com/tech-policy/2022/11/sam-bankman-frie...