Quote:
Originally Posted by baddog
He was a cash investor, that's all I know other than he specifically said it wasn't a crypto purchase.
I was not interested enough to dig deeper
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Its crazy what happened.
They were insolvent for some time due to leveraging clients' funds.
Then when Binance found out what they were doing and threatened to sell some of the % FTT token they owned, FTT token started going down and FTX tried to stop the bleeding by selling other assets. Millions of users then realized that money is not safe and they tried to do withdrawals, which was suspended a few hours later. And the worst part was the hack, which many people think that Alameda did and stole an additional 400m usd.
Yeah, you're not wrong, the movie is coming out soon