Crypto’s FTX Moment Shows Danger of Centralized Finance With No Central Bank

[FreeGoldRush]

No, he is correct for reasons different than what you are suggesting. Very different reasons.

Well ok. I'm all ears. Tell me.

 

[Overnight]

Well ok. I'm all ears. Tell me.

"Our banks" do not transfer our money out of their control and over to some unregulated third party.

 

[FreeGoldRush]

"Our banks" do not transfer our money out of their control and over to some unregulated third party.

Yes, but they do lend it. FTX lent client assets. I get that FTX pushed their luck massively. A crypto exchange should hold all crypto in client accounts. And just hold it.

 

[johnarb]

I have 0 crypto assets in FTX com, this is just fyi for others

Updated

https://twitter.com/x/status/1590974648552148992