My understanding is that FTX’s business model fairly straightforwardly made sense? It was an exchange, and there are many exchanges in the world that are successful and probably not fraudulent businesses (even in crypto—Binance, Coinbase, etc). As far as I can tell, the fraud was due to supporting specific failures of Alameda due to bad decisions, but wasn’t inherent to FTX making any money at all?
I agree that it is less likely than Binance, based on the fact that public stock market companies are required to be more transparent[1], I do not know much about these particular companies.
My understanding is that FTX’s business model fairly straightforwardly made sense? It was an exchange, and there are many exchanges in the world that are successful and probably not fraudulent businesses (even in crypto—Binance, Coinbase, etc). As far as I can tell, the fraud was due to supporting specific failures of Alameda due to bad decisions, but wasn’t inherent to FTX making any money at all?
I’m gonna wait it out on this one.
I’d currently wildly guess that Coinbase is not a fraud.
I agree that it is less likely than Binance, based on the fact that public stock market companies are required to be more transparent[1], I do not know much about these particular companies.
of course Enron, Wirecard and others show that being listed on the stock market is no guarantee
Yeah, fair. I have no real knowledge of crypto, so am not particularly endorsing Binance