They stole clients assets and used them to:
1- Gamble with them
2- pay themselves
3- lobby the government
4- bailout other failing crypto companies.
Everything here could have been done with any non-crypto exchange.
1- Gamble with them
2- pay themselves
3- lobby the government
4- bailout other failing crypto companies.
Everything here could have been done with any non-crypto exchange.
I fully agree with your point about bank deposits. Unlike ftx, however, the banks are tightly regulated and monitored.