While being grilled by coffeebreak_YT, SBF_FTX let slip that customer funds were commingled in 'omnibus wallets.' Were FTX funds at risk from the beginning? Opinion for 'The Node' newsletter, by DanielGKuhn.
– at the very least during the final days the exchange was in business, Bankman-Fried admitted.
According to FTX’s ToS, everyday users just looking to buy or store their cryptocurrencies on the centralized exchange could trust they were doing just that, buying and storing cryptographically unique digital assets. But now, thanks to skillful questioning by Coffeezilla, we know there were instead “omnibus” wallets and that spot and derivatives traders were essentially assuming the same level of risk.
Before now, Bankman-Fried had been asked multiple times about the exchange’s ToS and often managed to derail the conversation. He would often point to other sections of the document that stated clients using margin could have their funds used by the exchange. Questions remain. We still don’t know when or how Alameda lost money, and how much of that could have been client funds. According to recent reporting, Alameda had anon FTX. Almost by definition, if it was in the red and in debt and there was a wallet that commingled funds, Alameda was also at least partially funded by some FTX customers without their knowledge or consent.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Sam Bankman-Fried wanted FTX to sponsor Taylor Swift tour for $100 millionSam Bankman-Fried is reportedly such a huge Taylor Swift fan that he pushed for FTX to sponsor her tour in a $100 million deal that almost happened
Leer más »
FTX’s Sam Bankman-Fried just hired Ghislaine Maxwell’s defense attorneyFTX's Sam Bankman-Fried just hired Ghislaine Maxwell's defense attorney
Leer más »
Be Patient: Sam Bankman-Fried Could Go to Prison for a Very, Very Long TimeThe apparent fraud at FTX could send SBF_FTX to prison for the rest of his life. And new leaks continue to point to even more malfeasance, davidzmorris writes. Opinion.
Leer más »
Sam Bankman-Fried Hires Lawyer Who Defended Ghislaine MaxwellSBF has hired an attorney who represented Ghislaine Maxwell when she was charged with trafficking, which is definitely a twist we didn't foresee.
Leer más »
Sam Bankman-Fried Hires Ghislaine Maxwell's Defense Attorney: Reuters | CoinMarketCapThe former CEO of the bankrupt FTX crypto exchange may be giving up the 'I'm an idiot, not a crook' defense he's been pushing with little success in several recent interviews.
Leer más »