This particular market is too illiquid to mean anything.
Right now, there is only about $500 in liquidity if you wanted to buy in at the 20% ask with a market order. After that the next sell limit order it as 96%.
If your definition of “making money” is turning bitcoins into USD at bitcoins low point, and then paying that back to them in 2 years, alright.
You can have whatever opinion you want about the bankruptcy process, but FTX was most certainly insolvent, due to fraud, and at that point whatever happened after the recovery to make people as whole as possible (which for many was not even close) really shouldn’t get credited to SBF.
Call me crazy, but if my bank tells me that my deposits are in safe assets like treasuries, but then the CEO takes the money to Vegas and puts it all on red, even if the CEO wins that bet, I'm very ok with that CEO going to jail.
Of course, if the bank is upfront that they take customer deposits to Vegas, then its fine.
Or if they took my deposit and commingled it with company funds and bought some illiquid luxury real estate in the Bahamas for their staff to live in totalling $240m. If they’re upfront about that, probably nobody deposits with them.
Not necessarily. I think the intention was to drive up the value of FTX assets by investing in companies and coins that increased said value of the FTX platform. The value of held FTT was dependent on the value of FTX.
