[jefftk]

There are lots of reasons to be mad and lots of red flags, but having over a hundred companies is pretty normal in this space. To operate a financial business legally across many jurisdictions you generally need to have subsidiaries in each jurisdiction. Ex: https://wise.com/help/articles/2974131/what-are-the-wise-gro...

[joosters]

Not true - the FT took a look at the org chart of FTX, it's way more complicated than even Lehman Brothers - https://www.ft.com/content/c28e0570-d4c4-433c-b0a0-c99fba613...

[jefftk]

Lehman Brothers didn't allow individuals in many countries around the world to make trades on their platform, so I don't think they're a good comparison here.

(Sorry for saying "financial" earlier when the reference class is really something more specific like "international retail finance")