FTX itself was profitable, but that's because Alameda Research was selling dollars for 80 cents, and all the other traders were paying FTX fees to rip off Alame

FTX itself was profitable, but that's because Alameda Research was selling dollars for 80 cents, and all the other traders were paying FTX fees to rip off Alameda. Unfortunately, Alameda was running on FTX customer money.