Re:The Sam Bankman-Fried empire crumbled. What happened? (pa...
by zen21 on Thursday November 10, 2022 @01:21PM
(#33550829)
What does A-OK mean? No exposure at all?
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Re:The Sam Bankman-Fried empire crumbled. What happened? (pa...
by idkyall on Thursday November 10, 2022 @03:36PM
(#33552913)
As I understand it, FTX outside the US offered many exotic financial products: e.g. 24/7 traded Tesla stock tokens[1], leverage, etc., which I don't believe US based crypto exchanges are allowed to offer(Coinbase stopped offering leverage in 2020, for example). The acquisition offer yesterday did not include FTX.us[2]
This may mean that the US part of the exchange and the associated customer funds were not lent out, but we shall find out.
[1]https://coinmarketcap.com/currencies/tesla-tokenized-stock-f... [2]https://www.cnbc.com/2022/11/08/binance-offers-to-buy-ftxs-n...