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by themafia 13 days ago
> FTX would have been one of the best performing funds of all time

Ponzi schemes often have that feature. Right up until the bottom completely falls out.
1 comments
bpodgursky 13 days ago
It wasn't a Ponzi scheme. You really need to read up before commenting. It was a wildly successful fund he used as a slush fund for other projects. There's no mechanism for FTX to collapse unless Anthropic among other projects collapses to zero.
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verteu 13 days ago
Alameda was only profitable in the years when Bitcoin was going up. By 2022 their trading operations were deeply negative (hence the decision to steal customer funds).
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