cross-posted from: https://exploding-heads.com/post/64853

Billions of dollars were shared with FTX with the belief that FTX was in turn investing the money in cryptocurrencies requested by the purchaser.

However, SBF shared what we now all know already. FTX didn’t take customers’ money and invest in Bitcoin, it just took the money.

It’s a wonder that SBF hasn’t been arrested already and thrown in jail.