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FTX was simple fraud. This isn't really related and is more standard bank taking on wayy too much risk.
by tekla 4y ago
FTX was simple fraud. This isn't really related and is more standard bank taking on wayy too much risk.
- thepasswordis 4y agoFTX was because they took customer deposits and gambled with them, lost the gamble, and therefore lost the money.
- mannerheim 4y agoYes, but it was also fraud because they weren't supposed to gamble with that money because they were an exchange, not a bank.
- fullsend 4y agoWhat is different here? FTX bought shitcoins. SVB bought MBS. They gambled rates wouldn’t change and customer’s wouldn’t withdraw.