In other words, the investors were stupid and deserved what they got.
Customers were owed better, but large scale investors who don't do due diligence and end up losing their shirts deserve every bit of it.
Customers were owed better, but large scale investors who don't do due diligence and end up losing their shirts deserve every bit of it.
Sam playing league of legends during his pitch meeting with squioa capital gets memed a lot but it truly is absolutely staggering that so little common sense was applied here.
But they'd still have a case as victims if FTX signed contracts and then violated them. Or broke laws which cost them money.
earned income exceeding $200,000, or $300,000 when combined with a spouse, during each of the previous two full calendar years, and a reasonable expectation of the same for the current year
or
a net worth greater than $1 million (either by yourself or combined with a spouse), excluding your primary residence.
and is therefore expected, rightly or wrongly, to be able to judge the riskiness of a potential investment and absorb the loss without being crippled.