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Yeah, I bet

FTX’s implosion leaves more than 100,000 creditors and a million-plus customers facing an uncertain future. Investors in the business, including BlackRock and the Ontario Teachers Pension Plan, are also facing total losses on their equity stakes.

Mr Bankman-Fried, who stepped down as chief executive on Friday, told customers he was “really sorry” for his business’s demise.

The entrepreneur, who was at one point hailed as “the next Warren Buffett”, admitted he “f—ed up” and described the situation as a “s—show”.

“Hopefully things can find a way to recover,” he tweeted on Friday. “I was shocked to see things unravel the way they did.”

You lent client money to yourself to trade with, then lost it.

What recovery?

5 thoughts on “Yeah, I bet”

  1. Hopefully things can find a way to recover,” he tweeted on Friday. “I was shocked to see things unravel the way they did.”

    He sounds like Theodore Dalrymple’s criminals who disassociate themselves from the crimes they have committed. “And then the knife went in…”

  2. I’ve decided I rather like Mr. RT. Because this is a protest at the absurdity of the rules. It’s entirely deliberate. This is absurd, idiotic, yet you morons have set the system up so that you can’t do anything about me. It’s actually a – very sarcastic – protest.

  3. Tim, yes. People don’t realise it’s a protest – he’s forced the school to double-down on the already absurd rules.

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