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The 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,
by flowerthoughts 2y ago
The 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.