[rvz]

FTX exchange seems to be going great and doing fine. Tons of revenue, very low head count and lots of cash at their disposal. So much, that they are offering to take over other failing startups affected by the downturn.

That is a sign of a company that will survive in the long term since they are thriving even in these conditions.

[EddySchauHai]

They have a lot of cash, but SBF theoretically could close shop and cash out if he feels the amount of money he will be able to donate will be down for the longterm. The entire point of FTX, ultimately, is to take money from crypto traders and put it into Effective Altruism charities.

[smalldick]

> The entire point of FTX, ultimately, is to take money from crypto traders and put it into Effective Altruism charities.

The entire point of FTX is to profit from the unregulated crypto markets by front-running his clients with the FTX-Alameda combo and pump (to bring in new cows to milk) and dumping (to crash the markets and buy sinking companies on fire sale) the markets; while waving the altruism flag.

[colinmhayes]

I mean both can be true. SBF has perhaps been too gung ho with his EA donations, burning enormous piles of cash down some very deep rabbit holes. And he got that money by using his market maker to front run his own exchange.

[EddySchauHai]

I am partially involved with the EA community and know he does indeed donate, I don't believe it's just a case of waving an altruism flag but completely genuine efforts.