Because FTX is almost certainly morass of worthless assets and enormous liabilities, totalling $5bn or more. The brand also will be worth very little. And Binance may not feel the political capital it would acquire from making depositors whole is worth the risks.
Because FTX is almost certainly morass of worthless assets and enormous liabilities, totalling $5bn or more. The brand also will be worth very little. And Binance may not feel the political capital it would acquire from making depositors whole is worth the risks.