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by jaywalk 1307 days ago
FTX loaned the deposits to Alameda, and Alameda invested them. It's totally different from FTX making the investments themselves!

/s
2 comments
CuriousCosmic 1307 days ago
It's somehow even worse given that according to SBF, they didn't even loan all the deposits. Something like $8B of them were being deposited to Alameda directly from users without their knowledge.

https://cdn.vox-cdn.com/uploads/chorus_asset/file/24202784/S...

link
sailplease 1307 days ago
A loan is an investment.
link