Re:FTX’s financial black hole leaves Binance balking at resc...
by SilverBirch on Wednesday November 09, 2022 @04:08PM
(#33537847)
This is good news. The obvious suspicion was that Binance would bail out FTX to cover for the fact that Binance aren’t truly solvent themselves- in exactly the same way FTX did with other crypto projects earlier this year. We all know at this point FTX was underwater, so Binance stepping to take a big loss on it would’ve been a strong red flag.
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Re:FTX’s financial black hole leaves Binance balking at resc...
by shapefrog on Wednesday November 09, 2022 @04:38PM
(#33538255)
You might throw a years profit at it to restore confidence in the system and buy up market share. But making losers whole to the tune of 5/6/7/10 years of profits would be a massive red flag ...