> A run on the bank forced immediate liquid delivery from FTX.
Which bank? FTX? FTX was in his own words an "exchange." An exchange holds customer funds in custody for immediate redemption. A bank lends customer funds out and can't meed a redemption surge.
Also, the conspiracy theorists claiming that this guy was swept out of the hearings to protect powerful people are in for a big disappointment. It's just more of the same line as before "I messed up, but I won't tell you specifically how and if I hint at it it will be self-serving."
Which bank? FTX? FTX was in his own words an "exchange." An exchange holds customer funds in custody for immediate redemption. A bank lends customer funds out and can't meed a redemption surge.
Also, the conspiracy theorists claiming that this guy was swept out of the hearings to protect powerful people are in for a big disappointment. It's just more of the same line as before "I messed up, but I won't tell you specifically how and if I hint at it it will be self-serving."