Post
Topic
Board Gambling discussion
Re: BANKMAN-FRIED PANIC GAMBLES TO REPAY DEBT
by
makishart
on 29/12/2022, 04:02:37 UTC
I don't understand this. The FTX customers are the losers here. Sam didn't lost anything and he was flying on business class two days ago after being granted bail. Now it is clear that he will not spend even one day in jail, despite stealing almost $10 billion from the FTX clients. It ended in a way which is extremely beneficial for him. The idiots who trusted him and kept their money in FTX accounts are the ones who got royally screwed. His bail was set at $250 million. For him it wasn't very hard to set up the bail from the stolen assets.
The bad side from centralized exchange site was the transparency. All of funds were not transparent and these funds kept in the hot wallets which owned by the exchange site and so once the platform faces a big problem like that and then the owner can run away with whole of money. FTX customers were just users of platforms that thought that if that was a trusted platform. Decentralized exchange site the same possibility. We can't really sure to trust the human nor code created by human.
The source looks unreliable for me. Sam was gambling customer's funds through alameda. SBF also said that he used mostly of funds to buy robinhood shares. I don't even think that the news that already published by OP was coming from a reliable source