3 ms·

Or, it's just kinda and interesting story on it's own, no crazy conspiracy theories needed? When Bernie Madoff or Enron or any of the other major headline-grab

Or, it's just kinda and interesting story on it's own, no crazy conspiracy theories needed? When Bernie Madoff or Enron or any of the other major headline-grabbing frauds fell apart, the victims generally got back almost nothing. The fact that FTX is returning all of the user's money, plus interest, is quite unique and newsworthy.

jimmydddd 2y ago
But it's not really "all of their money." That's just the way the news is spinning it. I think that's the point folks are discussing.
Scoundreller 2y ago
Madoff is kinda like an FTX: on average, everyone has received 72% of their “investment” back. But there was some rule about everyone getting their first $1m or something back 100%. Funny thing about madoff is that it is still ongoing, distributions have diminished but last one was this year: https://www.madofftrustee.com/index.php?mobile=false https://www.madofftrustee.com/index.php?mobile=false Where madoff is a bit different is that they were more aggressive in taking money back that people took out. You’re really only getting back what you put in (and obvious losses through time value of money). And madoff didn’t gamble with the money, he mostly just sat on it.
arduanika 2y ago
Sure. As I wrote in my other comment, "That said, the repayments do exceed expectations. That is newsworthy. I just wish they could report that news factually." So to flip it back on you: repaying the lowball marks, but not the actual full stolen value, is an interesting story on its own. No lies and exaggerations from the media are needed. Also, where you write: > "The fact that FTX is returning all of the user's money..." No. This is not a "fact". This is a lie. You have been misinformed. That's my whole point. Do not call it a fact.
nerdInnius 2y ago
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3 ms·

Or, it's just kinda and interesting story on it's own, no crazy conspiracy theories needed? When Bernie Madoff or Enron or any of the other major headline-grab

by marcuskane2 2y ago

jimmydddd 2y ago
But it's not really "all of their money." That's just the way the news is spinning it. I think that's the point folks are discussing.
Scoundreller 2y ago
Madoff is kinda like an FTX: on average, everyone has received 72% of their “investment” back. But there was some rule about everyone getting their first $1m or something back 100%. Funny thing about madoff is that it is still ongoing, distributions have diminished but last one was this year: https://www.madofftrustee.com/index.php?mobile=false https://www.madofftrustee.com/index.php?mobile=false Where madoff is a bit different is that they were more aggressive in taking money back that people took out. You’re really only getting back what you put in (and obvious losses through time value of money). And madoff didn’t gamble with the money, he mostly just sat on it.
arduanika 2y ago
Sure. As I wrote in my other comment, "That said, the repayments do exceed expectations. That is newsworthy. I just wish they could report that news factually." So to flip it back on you: repaying the lowball marks, but not the actual full stolen value, is an interesting story on its own. No lies and exaggerations from the media are needed. Also, where you write: > "The fact that FTX is returning all of the user's money..." No. This is not a "fact". This is a lie. You have been misinformed. That's my whole point. Do not call it a fact.
nerdInnius 2y ago
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