This is such a wrong take. In 2020, FTX was known to offer collateral on huge loans vis FTT, their stabelcoin. Parties backed off bc of this. The interplay b/

This is such a wrong take. In 2020, FTX was known to offer collateral on huge loans vis FTT, their stabelcoin. Parties backed off bc of this. The interplay b/t Alameda and FTX was known and parties wouldn’t trade or do broker agreements bc of it. within crypto, the growth of FTX, although concerning, was frequently discussed as likely inorganic. The VC and SEC buy-in to FTX was uniquely inept.