FTX’s Collapse Was a Crime, Not an Accident

Re:FTX’s Collapse Was a Crime, Not an Accident by majormajor on Wednesday November 30, 2022 @08:37PM (#33811081)

Combination of all of them? After all, you say yourself, one of the most informed journalists on the space is doing an excellent job.

The mainstream definitely doesn't understand crypto. (Hell, SBF himself paid for TV ads telling them they didn't have to!) Madoff had easier precedences to compare to and validate for themselves vs trying to figure out if the various crypto-sphere tweets and blog posts "proving" fraud are actually proof and such.

The FTX story, if half the stuff I've seen linked on HN is too believe, also has a believability hurdle to the uninformed of being UNBELIEVABLY STUPID. "They did almost literally no accounting at all and transparently bought houses with company funds" yet they also raised crazy $$$ from so-called reputable investors? Surely that can't be true!!

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Re:FTX’s Collapse Was a Crime, Not an Accident by nwiswell on Thursday December 01, 2022 @02:15AM (#33813293)

There's an interesting implication here, which is that if SBF is enough of a charismatic con to make otherwise sophisticated investors toss money around blind, wouldn't he also be able to work similar magic on otherwise sophisticated journalists?

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Re:FTX’s Collapse Was a Crime, Not an Accident by MoreBetterMess on Thursday December 01, 2022 @03:22AM (#33813699)

Maybe those sympathetic journalists just share SBF's particular ethnic and privileged background?

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Re:FTX’s Collapse Was a Crime, Not an Accident by MallocVoidstar on Thursday December 01, 2022 @03:51AM (#33813895)

"The Jews are the problem"?

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