No, stop trying to spin this. It's a stereotypical crypto story.
> Sam, Caroline, and everyone at the top of FTX and Alameda have very close family ties to key power brokers on Wall Street, which is how they were able to run this scam.
Who was Do Kwon's wall street family tie?
> FTX has also lobbied extensively for harsh regulations on DeFi, which is a key reason that he was hated by people in the cryptocurrency space, and adored by Wall Street.
Centralized exchange lobbies against decentralized exchange, isn't that just business?
> The only reason FTX got caught is because of evidence they left on-chain.
Really? Source? From what I know it was just good old balance sheet (probably an Excel file, even) that got leaked.
> Any other investment fund might have been able to sweep it all under the rug, but since the massive payout from FTX to Alameda was visible for the world to see, the corruption was obvious, and the whole thing collapsed
Utter bull. FTX paid Alameda a long time ago. No one knew this story until 2 days ago because none of this works the way you are talking about.
(We should remember to be careful in the thread to stay substantive; dismissing your opponents claims as “Utter bull” may feel good to write, but the sentence after that is the valuable one for readers. Only you can prevent forest fires^W^Wflame wars.)
No, stop trying to spin this. It's a stereotypical crypto story.
> Sam, Caroline, and everyone at the top of FTX and Alameda have very close family ties to key power brokers on Wall Street, which is how they were able to run this scam.
Who was Do Kwon's wall street family tie?
> FTX has also lobbied extensively for harsh regulations on DeFi, which is a key reason that he was hated by people in the cryptocurrency space, and adored by Wall Street.
Centralized exchange lobbies against decentralized exchange, isn't that just business?
> The only reason FTX got caught is because of evidence they left on-chain.
Really? Source? From what I know it was just good old balance sheet (probably an Excel file, even) that got leaked.
> Any other investment fund might have been able to sweep it all under the rug, but since the massive payout from FTX to Alameda was visible for the world to see, the corruption was obvious, and the whole thing collapsed
Utter bull. FTX paid Alameda a long time ago. No one knew this story until 2 days ago because none of this works the way you are talking about.