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"including a loan of FTT tokens to BlockFi Inc. in a principal amount of FTT tokens valued at $250 million as of September 30, 2022." [1]

[1] https://pacer-documents.s3.amazonaws.com/33/188450/042020648...

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SBF seems to have claimed that funds sent to Alameda were loans. Can he do that here too (even if accounting was sloppy)? If so how does that differ from what other financial institutions do, unless it is in the degree of leverage and risk they take on? I am just imagining a headline like "<your bank> used corporate funds to purchase employee home".

ftx created new tokens and loaned them to alameda, and then alameda posted them as collateral to borrow money from ftx customers.

Crypto people complain about governments “just printing money” and then go and do shit like this. It boggles the mind.

It's almost as if crypto is mainly just scams, and people in the process of being fooled by scams.

> It's almost as if crypto is mainly just scams, and people in the process of being fooled by scams.

It is a scam, crypto is essentially people making their own money backed by nothing but hype. The entire industry will collapse way before the regular financial system ever does. Crypto has no fundamentals, none, zip, if not the FIAT people are willing to lose in an attempt to get rich quickly.

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