Once Bitten! A Bitcoin Podcast. cover image

@edstromandrew - @Croesus_BTC - FTX, Ikagi, Stop Trading #bitcoin And Getting 'That Phone Call' As A Money Manager #297

Once Bitten! A Bitcoin Podcast.

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FTX - I'm My Counterparty Risk

A month ago, FTX had $4 billion of Bitcoin promises out to people. Now they have zero Bitcoin on their balance year right now. So that's counterparty risk. It might have something to do with when you are issuing a bunch of paper Bitcoin, you're screwing with the increase in scarcity function and how the market is perceiving it or digesting it. And so I think that's like a really problematic, a really sinister outcome of all the paper Bitcoin that's going on right now.

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