To: Jonty30
Most people misuse the term "Ponzi scheme," but this was a classic Ponzi scheme. FTX paid profits to earlier investors with funds from recent investors and when people started to ask questions, recent investors were left holding the bag. Big-name celebrities and politicians lost a lot of money.
To: Right_Wing_Madman
13 posted on
11/16/2022 3:54:23 AM PST by
TTFlyer
(Lenin: that by the infliction of terror, a well-organized minority can conquer a nation.)
To: Right_Wing_Madman
Also haven’t seen the full effect to people who borrowed money to invest in crypto. Margin call Mr. Duke.
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