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A comment on FTX used corporate funds to purchase employee homes, new filing shows. Parent comment

Re:FTX used corporate funds to purchase employee homes, new ... by saurik on Thursday November 17, 2022 @03:12PM (#33644941)
> - each time an exchange / scam goes down - they publish those papers saying they have 0 exposure to them (recently FTX, Genesis) - this despite findings that Alameda (FTX affiliated hedge found) was on the recepient of >30% of all Tethers

Why would this matter? Tether gives out USDT to (almost) anyone who wants it in exchange for cash, and only redeems it for cash if you give them back the USDT... 100% of their USDT could be held by FTX and that would not suddenly cause them to have any exposure to FTX.

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Re:FTX used corporate funds to purchase employee homes, new ... by TheAlchemist on Thursday November 17, 2022 @03:18PM (#33645028)
It was proven and admitted that they are also issuing Tethers against loans - for example Mashinsky (the guy from Celcius - that collapsed) said in an interview that Tether loaned them 1B.
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