> I don't think he intentionally lost peoples' money
How do you suppose they took a directional bet, with customer funds, and lost, unintentionally?
How do you suppose they took a directional bet, with customer funds, and lost, unintentionally?
SBF's claim is that FTX customers sent money to Alameda and nobody remembered to categorize it as FTX client money.
This is about as believable as my 11yo saying he didn't realize he had to pay for the $50 worth of Pokemon cards he took from Wawa. (This was after he originally claimed the cards were a gift from a friend at camp -- a friend whom he could neither name nor describe to us.)