Oh so he never gave investors the keys to the coins, just some sort of self-generated receipt (read iou)? He held the keys to the actual coins backing up the IOU? Which, didn’t exist, of course. That’s so Bernie and his 1,000 year old PCs from the 80’s in some back room that only he was allowed to see. And of course SBF got regulatory legitimacy. With pedigree like his, who would deny him? Thanks for taking the time to explain. I sincerely appreciate it. Love your work.
well you know, so many people went to jail for 2008, how could you expect any less?
If you realized in 2008 like many did that the entire system is a scam, every industry in this damn country, then 2020 wasn't much of a surprise to you.
Oh so he never gave investors the keys to the coins, just some sort of self-generated receipt (read iou)? He held the keys to the actual coins backing up the IOU? Which, didn’t exist, of course. That’s so Bernie and his 1,000 year old PCs from the 80’s in some back room that only he was allowed to see. And of course SBF got regulatory legitimacy. With pedigree like his, who would deny him? Thanks for taking the time to explain. I sincerely appreciate it. Love your work.
With bonus backdoors that allowed him to move money without alerting auditors.
From what I've read, on the last day of 'solvency', FTX had $900M in 'liquid' assets backstopping $9B.
https://finance.yahoo.com/news/ftx-held-just-900-million-105931146.html
But yes, the big story of the day is that the 'regulators' were in bed with the scam -- tale as old as time!
well you know, so many people went to jail for 2008, how could you expect any less?
If you realized in 2008 like many did that the entire system is a scam, every industry in this damn country, then 2020 wasn't much of a surprise to you.
"I'm already against the next bailout."
I was against the first one...in the day.
LOL remember when a $600B graft was huge news?
Who could forget? `\_(•_•)_/` 😉