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A comment on Two Executives in Sam Bankman-Fried’s Crypto Empire Plead Guilty to Fraud. Parent comment

Re:Two Executives in Sam Bankman-Fried’s Crypto Empire Plead... by mookerific on Thursday December 22, 2022 @01:47PM (#34096874)
Can someone enlighten me on why exchanges created their me-too coins in the first place? As a way to move out of crypto into a sort of non-fiat purgatory before taking a position again later on? Like, why does BNB even need to exist?
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Re:Two Executives in Sam Bankman-Fried’s Crypto Empire Plead... by zeven7 on Thursday December 22, 2022 @02:00PM (#34097032)
BNB and FTT exist(ed) so their exchanges can raise/create a lot of money. It's a little similar to why stocks exist, which is why they are clearly securities.
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