Yes, this is exactly the point that needs to be made. A few weeks ago I think it was quite easy to argue that it was riskier not to have it on an exchange because when it's not on an exchange you can't convert it back into USD when significant market moving events take place.
But more importantly a lot of these people chose to keep their crypto with FTX specifically because it was seen as the safest pair of hands. If investors like Paul Tudor Jones are "stupid" enough to fall for this "scam", then I think we should probably have a bit of compassion for the average Joe who's lost money here.
My heart genuinely goes out to everyone impacted by this.
But more importantly a lot of these people chose to keep their crypto with FTX specifically because it was seen as the safest pair of hands. If investors like Paul Tudor Jones are "stupid" enough to fall for this "scam", then I think we should probably have a bit of compassion for the average Joe who's lost money here.
My heart genuinely goes out to everyone impacted by this.