Re:FTX’s balance sheet was bad
by ralph84 on Monday November 14, 2022 @04:43PM
(#33601612)
Knight was the largest market maker on NASDAQ and NYSE at the time they blew up so if you're going to use "they're just a market maker" as a defense for JS you can't dismiss Knight as "oh, not THAT kind of market maker." And Knight was known for plenty of shady activity like front running and spoofing.
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Re:FTX’s balance sheet was bad
by whimsicalism on Monday November 14, 2022 @04:51PM
(#33601739)
Knight did not blow up due to fraud, so they were not "below board." Losing money is not against the law.
Furthermore, Jane St only trades their own capital - ie. not capital deposited by customers in an exchange and not capital provided by selling ownership stakes of itself on a public market. This is a clear distinction from Knight.
It's as if some guy just had a bunch of money, traded it and made some more money, hired a bunch of people to keep trading it, and it has made a ton of great returns and people are asking: is this a scam?
Who would it be scamming? The only suckers are this guy.