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0 pointsthepasswordis3y ago0 comments

FTX was because they took customer deposits and gambled with them, lost the gamble, and therefore lost the money.

0 comments

Yes, but it was also fraud because they weren't supposed to gamble with that money because they were an exchange, not a bank.

What is different here? FTX bought shitcoins. SVB bought MBS. They gambled rates wouldn’t change and customer’s wouldn’t withdraw.

j / k navigate · click thread line to collapse

0 pointsthepasswordis3y ago0 comments

FTX was because they took customer deposits and gambled with them, lost the gamble, and therefore lost the money.

Yes, but it was also fraud because they weren't supposed to gamble with that money because they were an exchange, not a bank.

What is different here? FTX bought shitcoins. SVB bought MBS. They gambled rates wouldn’t change and customer’s wouldn’t withdraw.

j / k navigate · click thread line to collapse