Good call and looks like they were fairly trainsparent with most of the info you’re referencing here.
I guess I’m still not sure at what point, even in a best case scenario, the “buy and burn” mechanism actually would drive intrinsic value in the coin though? From a pure supply and demand perspective maybe, since the better FTX does, the more scarce the coin is and the more demand there is for it… but isn’t that just a sort of strategic market manipulation within the exchange?
Albeit that could have worked had FTX reached a point where it was strong enough, but I think they effectively nullified that opportunity by using so much FTT as collateral that needed to be more liquid while treating it as if it was.
Good call and looks like they were fairly trainsparent with most of the info you’re referencing here.
I guess I’m still not sure at what point, even in a best case scenario, the “buy and burn” mechanism actually would drive intrinsic value in the coin though? From a pure supply and demand perspective maybe, since the better FTX does, the more scarce the coin is and the more demand there is for it… but isn’t that just a sort of strategic market manipulation within the exchange?
Albeit that could have worked had FTX reached a point where it was strong enough, but I think they effectively nullified that opportunity by using so much FTT as collateral that needed to be more liquid while treating it as if it was.