Comments by "Mark Armage" (@markarmage3776) on "The FTX Collapse, Explained | WSJ What Went Wrong" video.

  1. No, that's ridiculous, pal. Nobody saw this coming. Because they hide it from the world. What SBF did is not a ponzi scheme, it's just theft, customers put in cash, he used those cash not for reserves, but to invest and buy cryptos, people want withdrawals, they don't have enough cash, people start to sell cryptos, the cryptos they hold fall in prices. It's not fraud, it's theft, 2 different things. Now the nonsensical valuation of crypto can be true, but that's not what happened here, there was no "bubble", this is just theft.
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