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A comment on Binance's books are a black box, filings show, as it tries to rally confidence. Parent comment

Re:Binance's books are a black box, filings show, as it trie... by tootie on Monday December 19, 2022 @10:20PM (#34061145)
CZ bought a huge amount of FTT. Making wise investments is part of his job and he failed. Why? Because it's absolutely impossible to make rational investments in crypto. Why did he buy it in the first place? What information was available to justify the price of FTT? What calculation did he make that said it would pay off? And what changed to make him sell?
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Re:Binance's books are a black box, filings show, as it trie... by boomerango on Monday December 19, 2022 @10:50PM (#34061309)
A slight clarification: Binance owned a 15% stake in FTX and sold it back to FTX for FTT.
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Re:Binance's books are a black box, filings show, as it trie... by sroussey on Monday December 19, 2022 @11:01PM (#34061385)
Which seems like a worse decision, not a better one.
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