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Reading between the lines: "We've made some risky investments as a side deal that REALLY didn't pan out."
by moffkalast 4y ago
Reading between the lines: "We've made some risky investments as a side deal that REALLY didn't pan out."
- ErikHuisman 4y agoYield farming client funds?
- shp0ngle 4y agoNah they had very little of that actually available. They were not operating like a big crypto exchange.
- im3w1l 4y agoWhat makes you say that? They are shutting down in a responsible and orderly fashion, so I'm willing to take it at face value that they just aren't profitable anymore.
- moffkalast 4y agoThat's likely also the case, but I would at the very least expect a crypto exchange company to keep all their reserves in crypto, which has now completely plummeted in value. Localbitcoins are a bit different than the typical exchange so their exposure is likely less, but if you look at Binance or Robinhood they're all gambling with their backing money like a drunk at the horse races.