Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

FTX to file for U.S. bankruptcy, CEO resigns

reuters.com

Post reply on HN
Print view View original

21–30 of 1001 posts

Re: FTX to file for U.S. bankruptcy, CEO resigns

#22

Post by shapefrog »

Just 20 hours ago - it was all bad but still fine and plenty of money and lots of interested parties...

Oh and it is all the fault of the Devs

https://twitter.com/SBF_FTX/status/1590774827467812865

If you stick your company name in your twitter handle - does that mean the company owns the twitter account too???

Re: FTX to file for U.S. bankruptcy, CEO resigns

#23

Post by leereeves »

halfmatthalfcat wrote: post #6
sillysaurusx wrote: post #3

Does this bankruptcy include FTX US? A bunch of people in yesterday’s thread were saying that FTX US is safe, which seemed strange.

It looks like it? At least from a cursory reading of the press release...which goes against everything that has been said up to this point. The hilarity continues.

Yeah, just yesterday SBF tweeted:

> This was about FTX International. FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow.

https://twitter.com/SBF_FTX/status/1590709195892195329

Re: FTX to file for U.S. bankruptcy, CEO resigns

#25

Post by SilverBirch »

memish wrote: post #4

The CEO of Alameda said "we tend not to have stop losses... I'm trying to think of a good example of a trade where I've lost a ton of money... I probably don't want to go into specifics with that" https://twitter.com/ApeDurden/status/1590912098871435265 Now how did this place end up managing billions of dollars and SBF the darling of politicians? The picture is starting to come into focus. SBF used customer funds to…

To be fair I heard from a few places that you really don't want to do stop losses on crypto exactly because of companies like FTX - since the traders and the exchange are really the same people, it's possible that there isn't a good enough chinese wall between them - when that happens the traders can see your stop losses which is like holding a massive sign saying "Here, take my crypto for cheap".

Re: FTX to file for U.S. bankruptcy, CEO resigns

#27

Post by ldjkfkdsjnv »

memish wrote: post #4

The CEO of Alameda said "we tend not to have stop losses... I'm trying to think of a good example of a trade where I've lost a ton of money... I probably don't want to go into specifics with that" https://twitter.com/ApeDurden/status/1590912098871435265 Now how did this place end up managing billions of dollars and SBF the darling of politicians? The picture is starting to come into focus. SBF used customer funds to…

This is actually generally how finance works though. The whole industry is built on the illusion of superior competence.

"Prestige" is a determining factor in someones ability get a job running a hedge fund/financial asset management. Generally they need to have gone to the right school, worked at the right bank, then at the right hedge fund. Each should show a good amount of tenure ( > 3-5 years ).

A major asset manager that I won't mention hires PhDs from Harvard as a way to get people to invest in their fund. Behind the scenes, away from all the quant marketing nonsense, is some guy you've never heard of making gut based trades on the market.

Re: FTX to file for U.S. bankruptcy, CEO resigns

#30

Post by boeingUH60 »

leereeves wrote: post #23
halfmatthalfcat wrote: post #6

Earlier quoted context omitted.

It looks like it? At least from a cursory reading of the press release...which goes against everything that has been said up to this point. The hilarity continues.

Yeah, just yesterday SBF tweeted: > This was about FTX International. FTX US, the US based exchange that accepts Americans, was not financially impacted by this shitshow. https://twitter.com/SBF_FTX/status/1590709195892195329

This guy is such a serial liar...I wonder why he doesn't have a lawyer advising him to avoid making statements on a public platform at this point.
Post reply on HN