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3min chapter
SBF says "sorry! risk management is kinda hard lol"
Let's Appreciate
The Mismanagement of Cryptocurrencies
The main selling point of FTX was not true when it mattered. The biggest thing is that FTX just mismanaged money. Not only did they misuse customer funds, but they spent like $55,000 on margaritas. They didn't have their risk management system running on Alameda. So Alameda was able to circumnavigate any sort of risk management that would happen.
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