Wild guess they were covered at least partially by ftt token (ftx crypto token), which declined significantly in value (especially when CZ sold $500 million). How could anyone afford to pay interest on deposits while also fully covering the deposits? (Noncrypto banks have FDIC insurance) (Also as already mentioned some FTX assets were illiquid)
Wild guess they were covered at least partially by ftt token (ftx crypto token), which declined significantly in value (especially when CZ sold $500 million). How could anyone afford to pay interest on deposits while also fully covering the deposits? (Noncrypto banks have FDIC insurance) (Also as already mentioned some FTX assets were illiquid)