It misses a point though. FTX management not only presumably but effectively (according to court deliberations) had committed wire fraud, multiple conspiracy of frauds, customer + lender + investor deception.
Customers finding their supposedly owned assets withdrawals denied was enough suspicions to take over.
Now, whether the take over moves were the best, that's easy to conclude they weren't now. But the market could have gone either way, and the victims worse off.
Had SBF kept his reign and likely continued his fraudulent schemes, what would have prevented him and his crew from continuing to gamble assets that weren't theirs to begin with? What would have been the outcome of that.
hirako2000•1h ago
It misses a point though. FTX management not only presumably but effectively (according to court deliberations) had committed wire fraud, multiple conspiracy of frauds, customer + lender + investor deception.
Customers finding their supposedly owned assets withdrawals denied was enough suspicions to take over.
Now, whether the take over moves were the best, that's easy to conclude they weren't now. But the market could have gone either way, and the victims worse off.
Had SBF kept his reign and likely continued his fraudulent schemes, what would have prevented him and his crew from continuing to gamble assets that weren't theirs to begin with? What would have been the outcome of that.