Re:Sam Bankman-Fried found guilty on all charges
by matheusmoreira on Thursday November 02, 2023 @08:12PM
(#38122372)
Huh. That makes it even worse. Every cryptocurrency exchange I've ever seen offers literal savings accounts, it's obvious to anyone who knows how banks work they're loaning out customer funds. You're saying FTX didn't do that? That's even worse...
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Re:Sam Bankman-Fried found guilty on all charges
by wmf on Thursday November 02, 2023 @08:43PM
(#38122734)
Yeah. Celsius, BlockFi, Voyager, Gemini Earn, etc. were structured like savings accounts but FTX was not. FTX was supposed to be "your money is your money". What happened wasn't a mistake; it was theft.
Re:Sam Bankman-Fried found guilty on all charges
by matheusmoreira on Thursday November 02, 2023 @09:28PM
(#38123165)
Jesus. You're right then. It's even worse than I thought.