I sort of suspect that they were not, in fact, exemplary on any definitions of protecting retail investors at any point. The whole point of FTX was to offer leverage to its users! It was the derivatives exchange where you could get margin! This is generally bad for retail! (and then maybe had Alameda trading against you, but hey).
This is all before their exchange suffered huge outflows and it turned out they didn’t have customer funds protected at all. So no, at no point was this good for retail, it was incredibly predatory from beginning to end!
I sort of suspect that they were not, in fact, exemplary on any definitions of protecting retail investors at any point. The whole point of FTX was to offer leverage to its users! It was the derivatives exchange where you could get margin! This is generally bad for retail! (and then maybe had Alameda trading against you, but hey).
This is all before their exchange suffered huge outflows and it turned out they didn’t have customer funds protected at all. So no, at no point was this good for retail, it was incredibly predatory from beginning to end!
Thanks. I’ve changed “exemplary” to “ok/good” for a couple of reasons, partly due to your comment.
I don’t understand the space well enough to properly engage this debate at the moment.
Peter, get back to work ;) (I know I should too!)
Haha, yep.