Peter Schwartz, Technical Director of Ripple, a distributed ledger enterpriseSelectedThree key things that cause the despair of the FTX data encryption kingdom.
First of all, he pointed out that Alameda Research, a trade company belonging to FTX, used FTX customer funds.
Second, FTX's user savings (which should have been applied by Alameda) are mixed with the assets used for venture capital. Sam Bankman Fried, former CEO of FTX, now claims that this kind of property is "inadvertently" mixed together, denying the existence of fraud. In the end, he added that Alameda did not manage and control risks at all, although the enterprise should have implemented a development strategy of risk management and control and maintaining neutrality near the delta.
"How can everyone not be surprised by such incompetence/fraud?" Schwartz inquired.
Schwartz also claimed that heFeel puzzledKevin O'Leary's position in the FTX trading center. He claims that the recent rhetoric can be described as "intentionally blind"
In a recent interview with CNBC, O'Leary revealed that he had lost the $15 million FTX he received as a corporate press spokesman.
even ifFrustratedBecause of his association with Bankman Fried, O'Leary recently indicated on Twitter that he would still let this disgraceful entrepreneur add his elite team again, and added"Failure is usually the best education."Not surprisingly, this evaluation angered many members of the digital currency community who boycotted Bankman Fried.