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Only that Theranos product was techically impossible. Which makes the whole thing even crazier, nobody did even the slightest due dilligence there. Seems to be
by hef19898 3y ago
Only that Theranos product was techically impossible. Which makes the whole thing even crazier, nobody did even the slightest due dilligence there. Seems to be par of th cours so, other exhibits are FTX and WeWork.
- bhouston 3y agoThe core FTX crypto exchange business was very profitable. But Alameda wasn't. Also everyone at FTX was committing fraud.
- hef19898 3y agoBased on what financial statements do we know FTX was profitable? Also, the stole customer funds.
- bhouston 3y ago> Based on what financial statements do we know FTX was profitable? The crypto-exchange part I have read many times it was profitable. Running an exchange is a profitable endeavour as you just take a cut of all transactions. As long as you control your costs it is a money printer. The rest of FTX was full of fraud and Alameda was a money sink via unprofitable speculation. Also likely helping laundry money as well via poor KYC. Running an exchange is a great business though if you have the volume, doesn't matter if it is crypto or futures or stocks.
- play_ac 3y agoNo, crypto exchanges are only profitable as a result of massive wash trading and scamming. If they had to actually compete the margins would be hilariously low. Probably even lower than a typical bank because the product is just worse.