Plenty has been written about FTX already, and I suspect we are just getting started. The thing I’ve found most shocking so far is the alleged misuse of customer deposits — meaning the company seems to have used customer assets to finance the company’s own operations (as well as those of several inter-related entities). Wait, what? That’s like your bank paying its rent directly from your checking account.
Bursts of Color - Not All Cash is Created Equal
Bursts of Color - Not All Cash is Created…
Bursts of Color - Not All Cash is Created Equal
Plenty has been written about FTX already, and I suspect we are just getting started. The thing I’ve found most shocking so far is the alleged misuse of customer deposits — meaning the company seems to have used customer assets to finance the company’s own operations (as well as those of several inter-related entities). Wait, what? That’s like your bank paying its rent directly from your checking account.