Please understand I am not trying to be dishonest or make arguments in bad faith. Maybe I need to be further educated.
I understand that the level of fraud committed specifically by FTX goes far beyond simply misleading lenders and regulators about their collateral which consisted mostly of their own crypto. In general, however, this seems to be the root of the issue and the systemic problem across all centralized crypto exchanges.
From the start and well prior to this conversation I have had the belief that Crypto "scams" like this bear a striking resemblance to the world of traditional finance and specifically the securities market and MBS.
I'm not trying to argue in bad faith or use any kind of argumentative tactic or fallacy (at least not intentionally).
these nakedly fraudulent scams are nothing like real finance, its night and day. you need to get educated and then come back with better-informed opinions
I understand that the level of fraud committed specifically by FTX goes far beyond simply misleading lenders and regulators about their collateral which consisted mostly of their own crypto. In general, however, this seems to be the root of the issue and the systemic problem across all centralized crypto exchanges.
From the start and well prior to this conversation I have had the belief that Crypto "scams" like this bear a striking resemblance to the world of traditional finance and specifically the securities market and MBS.
I'm not trying to argue in bad faith or use any kind of argumentative tactic or fallacy (at least not intentionally).