[ucha]

How can you say it's clear it wasn't cash? What's the source?

Also, FTX minted FTT out of nothing - effective cost zero - so no matter what they received in exchange, even if they had received nothing that is not an investment unless they received Alameda equity. I agree that lending is a form of investment but nothing says that they received a loan in exchange.

You could still be right, but it's all speculation :)

[JumpCrisscross]

> How can you say it's clear it wasn't cash?

FTT spiraled and FTX went insolvent.

[lmm]

Doesn't mean they never received any cash. Maybe the CEO spent it all on crack and hookers.