manfromfuture t1_j1iuugw wrote
Reply to comment by gladmonkey in Judge kept cooperation of Alameda CEO, FTX co-founder a secret so Sam Bankman-Fried wouldn’t get spooked and fight extradition by ihavestrings
Again my question is about what kind of company FTX was and did they have the same fiduciary responsibility as a bank or brokerage. They were incorporated in the Bahamas and not federally insured as they claimed.
Enlogen t1_j1iwgt7 wrote
> did they have the same fiduciary responsibility as a bank or brokerage
Not relevant. They had the duty to follow through on contractual agreements with users, but they never had any intention of holding up their end of the agreement. Any profit based on lies is criminal fraud.
mrrosenthal t1_j1l7rxg wrote
What's the agreement? My understanding is not your crypto it's not your money and
Your money is earning interest we will try to pay you back
bannannamo t1_j1j078h wrote
They had a literal bank in Washington that washed millions in usd
Ftx was many companies.
gladmonkey t1_j1j3faz wrote
They filed for bankruptcy in the United States.
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