Kirk's Market Thoughts Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Kirk's Market Thoughts

COHR 128.77

-2.5%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Kirk © who wrote (14850)	11/16/2022 4:13:54 PM
From: Elroy	Read Replies (2) of 26408

It is like the biggest Ponzi scheme since Madoff... It's not yet entirely clear how FTX's assets evaporated, but I doubt it's a Ponzi scheme. I don't think FTX invested for depositors and owed them returns. My hunch is FTX used depositors funds to give themselves capital for proprietary trading, and lost the money. I gotta say I don't understand how this "FTX coin" works, and that coin going toward zero seems to be how FTX itself went bust ... maybe, some day we'll get the story in a hopefully awesome movie. But I don't think FTX had to pay old investors out of new investor's funds (Ponzi stuff). I think their issue was they didn't separate clients funds and their funds. FTX should be able to go bust, and the client's funds be untouched. But who knows, the cause of the bankruptcy remains sorta opaque as far as I can tell.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next