FTX execs blew through $8B — testimony reveals how | TechCrunch
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Sam Bankman-Fried and other FTX executives spent $8 billion worth of customer funds on real estate, venture capital investments, campaign donations,

FTX execs blew through $8B — testimony reveals how::Sam Bankman-Fried and other FTX executives spent $8 billion worth of customer funds on real estate, venture capital investments, campaign donations,

  • wazoobonkerbrain@lemmy.worldEnglish
    4·
    9 months ago

    Every crypto exchange is probably doomed to a massive dramatic collapse at some point or another just from a volatility standpoint alone.

    Properly run, an exchange does not speculate on the underlying asset, it only facilitates trades, and there is zero volatility.

    • shasta@lemm.eeEnglish
      3·
      9 months ago

      Yeah we’re not talking about fractional reserve banking here