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Thing with FTX is it was sold as a regular investment via superbowl ads etc. I'm not sure it needs special regulations, different from those for buying and sel
by tim333 2y ago
Thing with FTX is it was sold as a regular investment via superbowl ads etc.
I'm not sure it needs special regulations, different from those for buying and selling used cars, beanie babies etc. but should still be subject to basic stuff like don't steal your clients money.
- flowerthoughts 2y agoThe biggest problem there was all the talk of FDIC secured deposits as a way to legitimize the centralized crypto exchanges. First, don't advertise falsehoods, obviously. Second, if your money is tied up as Beanie Babies, the question whether they are stored in high security vaults or a shed is a dangerous red herring.
- tim333 2y agoWith FTX the main issue was separating client funds. In all such business client funds should belong to the clients and not be taken by SBF or whoever to gamble with.