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A comment on FTX Tapped into Customer Accounts to Fund Risky Bets, Setting Up Its Downfall. Parent comment
> is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
So if they are paying yield while actually losing money and covering it up by recruiting new clients then it's a Ponzi scheme.
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> is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors.
So if they are paying yield while actually losing money and covering it up by recruiting new clients then it's a Ponzi scheme.