News for hackers. Stuff that matters.

A comment on Sam Bankman-Fried tries to explain himself. Parent comment

Re:Sam Bankman-Fried tries to explain himself by jaywalk on Wednesday November 16, 2022 @04:18PM (#33630771)
FTX loaned the deposits to Alameda, and Alameda invested them. It's totally different from FTX making the investments themselves!

/s

[ Parent | on HN ]
Re:Sam Bankman-Fried tries to explain himself by sailplease on Wednesday November 16, 2022 @04:34PM (#33631009)
A loan is an investment.
[ Parent | on HN ]
Re:Sam Bankman-Fried tries to explain himself by jacoblambda on Wednesday November 16, 2022 @06:23PM (#33632471)
It's somehow even worse given that according to SBF, they didn't even loan all the deposits. Something like $8B of them were being deposited to Alameda directly from users without their knowledge.

https://cdn.vox-cdn.com/uploads/chorus_asset/file/24202784/S...

[ Parent | on HN ]