Ya, I mean it’s certainly possible they pulled a Full Tilt. They should have also made billions upon billions in trading fees/margin fees/etc in the last 5 years. So they would have had to have blown through all that and the customer deposits. Which again is possible.
And Full Tilt made a lot of money off of the rake, yet here we are.
Right, I think we all agree that is possible. But it seems unlikely here. Kucoin has made magnitudes more money than FT ever did to the point that a 500m “hole” in the balance sheet shouldn’t make the company insolvent anyways.
You also have the fact Kucoin is a money printing machine so I would imagine if they were truly insolvent someone would buy some/all of the equity to bail them out. The customer liabilities are actually less right now than they were when crypto was higher anyways.
real Hot Wheels
fake Hot Wheels
real Hot Wheels based on fake Hot WheelsActually it’s not
Kindergarten teacher with democratic socialist political beliefs but has 6% of her pay deducted for a defined benefit pension that mostly gets invested in US corporations. Intends to use the income to fund her retirement years. Vichy left or nah?
4 Likes
She’s obviously responsible for the actions of the companies that her index fund owns and we must hold her to account! The notion that one has no responsibility for the actions of a business that they own part of is absurd.
1 Like
I can definitely see that argument
edit: but I think someone can argue that she never owned the companies directly. she is merely an indirect beneficiary of surplus value created by the workers of those corporations and perhaps that insulates her from her ethical responsibility
1 Like
Onion.
I think we should still chastise her from a position of moral superiority to be safe.
4 Likes
While investing in fake money that wastes outrageous amounts of energy.
1 Like
Couldn’t be bothered to read the article, I see.
Copium.
1 Like
top 1% of americans own 32% of wealth
top .01% of bitcoiners own 27% of all coins.
" Those top players represent a mere 0.01% of all bitcoin holders and yet they control 27% of the digital currency, the Wall Street Journal reported. That compares to the old-fashion dollar, where the top 1% controlled 30% of total U.S. household wealth, according to Federal Reserve data."
I thought no one knows who Satoshi is?
OK, sure, they’re not a defi ponzi.
They’re a bucket shop. Entirely different variety of shady shit. Ponzi is far from the only 100 year old scam given new life in crypto.
They can’t get a license in the USA ffs. No way that happens to a business that big unless their total morons or doing shady shit. I bet they’re not morons. No opinion on their solvency here.
1 Like
I thought it was Craig Wright and David Kleiman, or does the crypto community think that is BS?
Wright is widely believed to be full of shit.