#1175 Raoul Pal On Bitcoin And The 2023 Financial Crisis
The Pomp Podcast
00:00
FTX vs FDIC Insurance
A bank run exposed bad investments with customer deposits, right? In the most basic form of FTX. If you now go and you look at a Silicon Valley bank, it kind of sort of looks like it's the same thing. The mechanism is the same, but there's a key difference.FTX was essentially prop trading with customer money, which they shouldn't have done.
Transcript
Play full episode
