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FTX Tapped Into Customer Accounts to Fund Risky Bets, Setting Up Its Downfallarchive.ph/2022.11.10-152616/https://www.wsj.com/amp/articles/ftx-tapped-into-customer-accounts-to-fund-risky-bets-setting-up-its-downfall-11668093732
51 sats \ 1 comment \ @lpop4254 10 Nov 2022 bitcoin
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1 sat \ 0 replies \ @orthzar 10 Nov 2022

The more profitable the cryptocurrency company, the more they are lending out customer funds. It's just fractional reserve banking with extra steps.

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