Quote from: jaberwock on November 24, 2022, 08:48:03 PM

Quote from: fuguebtc on November 24, 2022, 12:05:29 PM

How will they get over it? they have deceived customers by illegally using client funds and causing serious deficit of the exchange's budget. Their hack happened right after the exchange stopped withdrawing funds for investors and I believe the mastermind is none other than SBF. FTX has a budget deficit of up to 8 billion dollars, I think no one is brave enough to give money to SBF again, binance is the only hope but they flatly refused. If FTX can pass, I believe that no one will dare to use it anymore, trust cannot be bought, once trust is lost, there is no way to restore it.

The good factor for FTX is the fact that they could literally stop being an exchange and still profit from all the companies they bought. However, 8 billion dollars to be paid to customers cannot be found anywhere, and their companies do not worth that much neither.

This means, they will need that money, pay customers back, and hope that the companies they have make enough income to pay the debt back. Thats not going to be an easy ask to any bank or any investor, plus the amount is huge enough that only a few places in the world could ever afford it, so you would have to pull it apart, like find 16 investors with 500 million for example type of deal, thats even harder.

Your solution is not so bad but like I said, who would be brave enough to keep giving such a large amount of money to SBF again, with what he did and if you were you would you be willing to spend a lot of money on such an irresponsible, unethical person? I bet you won't and no one will dare to do that stupid thing again. The consequences of the FTX crash are certainly huge but let it happen and we'll get through it all without saving those who don't deserve it.