[FireBeyond]

> but you don't store your savings on a crypto exchange... No one reasonable has their savings in crypto exchanges.

Many, many, many people have absolutely bought into the crypto dream, put their savings on an exchange and absolutely ended up entirely destitute. There are swathes of evidence of exactly this.

[zerbinxx]

It can be hard to tell. On one hand, as a longtime observer of spaces like r/wsb and various crypto/opensea spinoff communities, people will very seriously gamble and lose vast quantities of money (and, to be fair, sometimes win vast quantities) in risky bets that they don't understand, and then post about it on the internet as if they didn't understand what the term "betting your life's savings" meant. On the other hand, I find enough schaudenfreude in reading such posts that I can see exactly why and how someone would fabricate such a story merely for their own amusement. It's a good heuristic to take anything with a grain of salt, including this half-baked explanation from SBF on exactly what went down with FTX.