Re:What Happened at Alameda Research
by matthewdgreen on Tuesday November 15, 2022 @10:48AM
(#33610631)
Yes, but how much real money is the question. I'm not doubting that real money was lost, just wondering if $16B of actual customer dollars ever flowed into the exchange.
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Exactly, I always wondered what the real numbers looked like. It's so easy to mint 100 coins, get a friend to buy one at $100, and say you "have" $9,900.
I wouldn't be surprised if the number of actual dollars was less than $100 million.
It’s more than 100M. I know someone who moved 2-300M of btc/eth to ftx and lost all of it
That’s gotta sting. Hopefully only a small portion of their portfolio?
It's easy to see how FTX's assets could be "worth" $16B in the absence of any real money coming into play, but I don't see how they could get to $16B in liabilities that way. The most obvious possibility would be if their liabilities were also denominated in thinly-traded shitcoins, but at this point it seems clear that that wasn't the case.