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nova9001 t1_ivwqzct wrote

Reply to comment by unbuottawa in FTX looks for $9.4 bln in rescue funds, Bahamas freezes some assets by fudge_u

>What exactly did they do to make the hole get bigger even if withdrawals are closed?

Leverage to the max and now they owe more than what they have.

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The_ODB_ t1_ivy1447 wrote

They're not a bank or investment business. They weren't supposed to leverage anything.

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nova9001 t1_ivy1p5y wrote

Apparently you don't need to be a bank or investment business to take risk.

Anyway, the money is gone. Losers are people who put money into FTX and winners enjoying their billions somewhere in paradise.

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The_ODB_ t1_ivyyotp wrote

My point is that officially they have never leveraged anything. That's not what an exchange does.

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nova9001 t1_ivyzsr7 wrote

Hence why officially they told everyone they never and then shifted the assets to a sister company.

Funny thing is after the investigations, they might be just walk.

1