Hello guys, as an attempt to protect new or old users on this forum , I think its mandatory for gambling sites to show proof of money they are holding in reserves . Unless casinos converts all deposits to a stablecoin , excluding UST hahahah , from year to date most of them should be running on a loss as most utilized crypto coins are down by atleast 65% and that includes Bitcoin .
There will be more and more accusations created to existing and also new casinos.
Goodluck,Be safe and smart out there!!
Casinos have very different money making model to any exchanges. They are not exchanges for a reason. If you gamble with BTC you win btc and you withdraw BTC, that's it. You don't change BTC to usdt and try start a bank run.
And FTX used their own token as a collateral which was one of the reasons this happened to them. And i am not sure what kind of numbers in those reserves would make you happy? One that includes enough reserves for everyone winning for a week for every bet or what?