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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 anonymoushn on Thursday November 17, 2022 @09:04PM (#33648894)
> These frauds can continue so long as they can continue to grow or at least maintain a steady state. Since they promise higher returns than can be achieved through honest means the liabilities grow faster than assets over time, but so long as nobody tries to realize their gains it's fine.

Honestly this sort of comment makes me want to stop reading hacker news comments sections altogether. Could you explain what returns are promised for depositors of USD at FTX international and holders of USDT?

[ Parent | on HN ]
Re:FTX used corporate funds to purchase employee homes, new ... by jandrese on Thursday November 17, 2022 @09:55PM (#33649379)
It didn't matter if those holdings weren't making returns, because they were all connected to a Ponzi scheme that was siphoning off the money from the rest of the company.

https://www.theblock.co/post/186187/alameda-promised-high-re...

15% returns, guaranteed, no risk.

[ Parent | on HN ]
Re:FTX used corporate funds to purchase employee homes, new ... by anonymoushn on Friday November 18, 2022 @03:06AM (#33651760)
It didn't matter that my comment was completely wrong and irrelevant because some other facts I omitted from my comment!
[ Parent | on HN ]