Re:A software change allowed FTX to use client money
by pavlov on Wednesday December 14, 2022 @02:38AM
(#33981002)
> "The question is did he personally benefit from the change made more than his usual salary?"
I would guess the compensation structure at FTX included a lot of their own crypto tokens, since the company can mint those at no cost. And Alameda was a big holder of those FTT/Serum tokens.
So you're a software engineer who owns theoretically millions of dollars worth of FTT tokens, and then the boss comes to you and asks to make an exception for Alameda... Since you work at FTX, you're probably aware that Alameda holds and trades a lot of FTT. If you do the code change to make Alameda look better and maintain the value of your own crypto portfolio, there's no question that you're a part of the fraud.
I would guess the compensation structure at FTX included a lot of their own crypto tokens, since the company can mint those at no cost. And Alameda was a big holder of those FTT/Serum tokens.
So you're a software engineer who owns theoretically millions of dollars worth of FTT tokens, and then the boss comes to you and asks to make an exception for Alameda... Since you work at FTX, you're probably aware that Alameda holds and trades a lot of FTT. If you do the code change to make Alameda look better and maintain the value of your own crypto portfolio, there's no question that you're a part of the fraud.