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Yeah, at least SBF managed to spin up a $20 billion dollar ponzi scheme. Sure, it's incredibly psychopathic, but it's still an achievement!
by LewisVerstappen 3y ago
Yeah, at least SBF managed to spin up a $20 billion dollar ponzi scheme.
Sure, it's incredibly psychopathic, but it's still an achievement!
- abirch 3y agoFTX wasn't a Ponzi scheme per se. SBF committed fraud by saying they had risk controls in place when they had an exemption for his hedge fund: Alameda Research. FTX could be viable if it let Alameda fail.
- mannerheim 3y agoAlameda played a significant role in propping up the value of FTX through their investment in FTT. Worth questioning how much FTX would have been worth if it hadn't been for various tricks like this.