> He should have just stuck to running an exchange I'm a bit of a Luddite when i... | Hacker News

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herodoturtle on Nov 11, 2022 | parent | context | favorite | on: FTX to file for U.S. bankruptcy, CEO resigns

> He should have just stuck to running an exchange

I'm a bit of a Luddite when it comes to crypto, can you please help me undersatnd what did SBF actually do that has caused all this trouble?

Aside from running an exchange I mean.

I'm just trying to understand the context of all these headlines.

boeingUH60 on Nov 11, 2022 | [–]

He used user deposits for risky trading and lost it all.

zucker42 on Nov 13, 2022 | [–]

SBF lent the money that customers deposited to Alameda research, which proceeded to lose it all.

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