At peak FTX was valued north of $25 billion.
Compare this with CME group, $77 billion.
FTX dicks around with some invented currency for amateurs.
CME group is Chicago Mercantile, Chicago Board of Trade, Kansas Board of trade, Dubai ME, Dow Jones Index, London NEX. It deals round the clock with shares, commodities, futures, currencies, etc, etc.
How anyone thought a piffling little Bermuda outfit was worth anywhere near the value of CME is a mystery.
A fool and his money are easily parted. Which is a good thing for capitalism.
John
I sneeze
Before producing its image of a typical Englishman the computer must have been force-fed a diet of our tv ads.
dearieme
“How anyone thought a piffling little Bermuda outfit was worth anywhere near the value of CME is a mystery.”
Especially since it was in the Bahamas.
bobby b
They ought to have some legal process a bankrupt company can follow when it has a massive shortfall of funds like that that would allow it to close or struggle on.
In 1649 Charles I had “Massive Shortfall” in Head Assets, say historians.
“The balance sheet has developed in ways not wholly to FTX’s advantage”
O/T the AI generated image of a handsome British man was somewhat surprising, or maybe it wasn’t?
https://www.dailymail.co.uk/travel/article-11816267/The-50-attractive-nationalities-revealed-India-No-1-USA-second-Uk-handsome-men.html
At peak FTX was valued north of $25 billion.
Compare this with CME group, $77 billion.
FTX dicks around with some invented currency for amateurs.
CME group is Chicago Mercantile, Chicago Board of Trade, Kansas Board of trade, Dubai ME, Dow Jones Index, London NEX. It deals round the clock with shares, commodities, futures, currencies, etc, etc.
How anyone thought a piffling little Bermuda outfit was worth anywhere near the value of CME is a mystery.
A fool and his money are easily parted. Which is a good thing for capitalism.
I sneeze
Before producing its image of a typical Englishman the computer must have been force-fed a diet of our tv ads.
“How anyone thought a piffling little Bermuda outfit was worth anywhere near the value of CME is a mystery.”
Especially since it was in the Bahamas.
They ought to have some legal process a bankrupt company can follow when it has a massive shortfall of funds like that that would allow it to close or struggle on.
It’s a great way to sharpen razor blades 🙂