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That's the thing - he successfully ran a lot of involved arbitrage and other legitimate trading tricks before he decided to run the confidence game. Unlike Mado
by jojobas 3y ago
That's the thing - he successfully ran a lot of involved arbitrage and other legitimate trading tricks before he decided to run the confidence game. Unlike Madoff, he could have retired before the FTX scam with "buy a jet every year" kind of cash.
- RandomLensman 3y agoIs there actually good visibility on the profits of the earlier trading?
- jojobas 3y agoThere's indication it was in the higher 9 digits.
- jandrese 3y agoHe found a niche in a Japanese exchange that was difficult to break into due to onerous banking regulations. Made a nice little chunk of change but it was a small potatoes thing. The numbers only look big because it was early days of crypto and the inherent inflation was through the roof.