[ExI] lotta splainin to do

BillK pharos at gmail.com
Tue Nov 15 16:08:24 UTC 2022


On Tue, 15 Nov 2022 at 15:36, Stathis Papaioannou via extropy-chat
<extropy-chat at lists.extropy.org> wrote:
> They weren’t just doing that. They were using depositors’ funds for risky activities, such as lending to or investing in other parties or to subsidiaries. As a result their liabilities are now greater than their assets, and depositors will not get their money back. If it had just been a liquidity problem another business, such as Binance, would have taken over.
> --
> Stathis Papaioannou
> _______________________________________________


They are now saying that FTX was a years-long billion dollar fraud
scheme and a federal investigation has started.
<https://cryptobriefing.com/ftx-fraud-who-are-sam-bankman-frieds-biggest-victims/>
Quote:
FTX Fraud: Who Are Sam Bankman-Fried's Biggest Victims?
by  Timothy Craig

FTX’s collapse has significantly damaged both the crypto and broader
financial ecosystems.
-------------------------------

BillK



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