Yes agreed the litigation potential could be much higher here, but depends very much on details we don’t know yet and what’s to come. Withdrawals continued to go forward and deposits are safe, the only significant damages so far it seems is the drop in FTT, but that keeps us in typical crypto-implosion territory, my understanding is trading volume in FTT is not high.
Also, this would only matter for SBF’s wealth if they were able to go after him personally at this point assuming he is 100% out of FTX, which unless things were extremely shady and bad under the hood will not happen. If they go after FTX (and sale goes through), that’s Binance’s problem now.
Withdrawals are definitely not going through on FTX itself—only on FTX US afaik.Very much doubt deposits on FTX itself are safe in the slightest—depositors there are basically 100% reliant on the Binance deal going through.
Yes agreed the litigation potential could be much higher here, but depends very much on details we don’t know yet and what’s to come. Withdrawals continued to go forward and deposits are safe, the only significant damages so far it seems is the drop in FTT, but that keeps us in typical crypto-implosion territory, my understanding is trading volume in FTT is not high.
Also, this would only matter for SBF’s wealth if they were able to go after him personally at this point assuming he is 100% out of FTX, which unless things were extremely shady and bad under the hood will not happen. If they go after FTX (and sale goes through), that’s Binance’s problem now.
Withdrawals are definitely not going through on FTX itself—only on FTX US afaik.Very much doubt deposits on FTX itself are safe in the slightest—depositors there are basically 100% reliant on the Binance deal going through.