Alameda lost tens of millions because of a fat fingering mistake

Re:Alameda lost tens of millions because of a fat fingering ... by 0cf8612b2e1e on Wednesday September 20, 2023 @08:10PM (#37591708)

Doesn’t that just mean the trading is done by a trusted third party? Fine until the third party goes belly up.

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Re:Alameda lost tens of millions because of a fat fingering ... by vgatherps on Wednesday September 20, 2023 @09:13PM (#37592120)

This is how most asset trading works, but outside of crypto these third parties are actually trustworthy

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Re:Alameda lost tens of millions because of a fat fingering ... by JumpCrisscross on Wednesday September 20, 2023 @10:13PM (#37592515)

> outside of crypto these third parties are actually trustworthy

With multiple layers of mutualised failsafes.

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Re:Alameda lost tens of millions because of a fat fingering ... by vgatherps on Wednesday September 20, 2023 @10:35PM (#37592619)

Don't forget meaningful regulations and legal requirements placed upon these parties

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Re:Alameda lost tens of millions because of a fat fingering ... by peyton on Wednesday September 20, 2023 @10:41PM (#37592648)

Well, one might argue they’re trusted to grift retail. The money firms make doesn’t come out of thin air. SEC is fairly toothless in this area.

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Re:Alameda lost tens of millions because of a fat fingering ... by Scott_Sanderson on Wednesday September 20, 2023 @09:57PM (#37592398)

Yes, the exchanges are 3rd parties that could lose, and often do lose, the money

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Re:Alameda lost tens of millions because of a fat fingering ... by HWR_14 on Thursday September 21, 2023 @12:22AM (#37593195)

I thought the (noncrypto) financial exchanges made a very small amount of money on every trade.

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