At this point FTX turning into a PFG would be very bad optics for the movement and maybe a net negative.
I turned to FTX because I knew what SBF would do with the profits, but many don’t know that, and I think they could have done better if they advertised that fact to consumers. FTX has loads of external for-profit capital so that makes it very hard for them to turn to the PFG model in practice though.
At this point FTX turning into a PFG would be very bad optics for the movement and maybe a net negative.
I turned to FTX because I knew what SBF would do with the profits, but many don’t know that, and I think they could have done better if they advertised that fact to consumers. FTX has loads of external for-profit capital so that makes it very hard for them to turn to the PFG model in practice though.