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> FTX would have been one of the best performing funds of all time Ponzi schemes often have that feature. Right up until the bottom completely falls out.
by themafia 4mo ago
> FTX would have been one of the best performing funds of all time
Ponzi schemes often have that feature. Right up until the bottom completely falls out.
- bpodgursky 4mo agoIt wasn't a Ponzi scheme. You really need to read up before commenting. It was a wildly successful fund he used as a slush fund for other projects. There's no mechanism for FTX to collapse unless Anthropic among other projects collapses to zero.
- verteu 4mo agoAlameda was only profitable in the years when Bitcoin was going up. By 2022 their trading operations were deeply negative (hence the decision to steal customer funds).