FTX Collapse
Discussions center on the FTX exchange's collapse, allegations of fraud including misuse of customer deposits by SBF and Alameda, and comparisons to other crypto failures like Mt. Gox and BlockFi.
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FTX collapsed due to accounting mistakes and using illiquid tokens as collateral. What sources show that SBF stole customer deposits?
Would this situation be same as FTX, Binance as far as we know?
It's possible if the money isn't actually there anymore, like what happened with FTX.
Knowing little about how ftx works... Is the article talking about customer accounts at FTX being drained? Or accounts belonging to FTX being drained?
Bitfinex can become insolvent, which means people cannot cashout their usdt's. Prices may crash.
I thought FTX is bailing out everybody
Wasn't FTX a company bailing out other crypto companies?
This is due to non crypto holdings. They never recovered crypto from ftx
Because ftx was only crypto in name. In reality it had nothing to do with the blockchain, it was just a centralised company
I believe BlockFi had all their assets on FTX