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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 stale2002 on Thursday November 17, 2022 @03:20PM (#33645058)
I think the way to attack this would be on them having US customers.

Yeah, technically they "banned" US customers. They were also doing sponsorships, and advertisement in literal US basketball stadiums.

Clearly they knew they had US customers and were attempting to get them.

[ Parent | on HN ]
Re:FTX used corporate funds to purchase employee homes, new ... by TuringNYC on Thursday November 17, 2022 @03:33PM (#33645245)
>> Clearly they knew they had US customers and were attempting to get them.

And they did, except they got overseas-registered hedge fund subsidiaries, where the managers were US residents (probably living in NY/CT/FL.)

We arent providing SIPC/FDIC backstopping to the customers, since it aint our jurisdiction. We arent bailing them out, so far.

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Re:FTX used corporate funds to purchase employee homes, new ... by rippercushions on Thursday November 17, 2022 @06:16PM (#33647351)
FTX had two exchanges: FTX.us for US customers (with limited features), and FTX.com for the rest of the world.
[ Parent | on HN ]