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Mr. Block™


🚨 The Blocks by Mr Block™ NFT 🚨



#Coinbase will suspend trading of #Binance USD (BUSD) starting March 13 because the stablecoin doesn’t meet its listing standards. #busd #crypto #nft
Source : @cnbc Stay tuned for more updates! Join The Blocks today https://www.mrblocknft.com #nft #money #nftart #metaverse #crypto #eth #btc #web3
After two failed attempts to get the FTX founder to admit to “fraud”, the YouTube star believes he got him on the third attempt in a public Twitter Space.

He questioned Bankman-Fried on whether FTX were “treating client assets, just on the regular assets side, different from the margin trading side.” What this implies is keeping the funds of users, who signed on for different terms of services and risk levels, separate in case of a crash.

Bankman-Fried did state the exchange “were treating them differently”, but once questioned on why those “client assets no longer existed” on the exchange, the tone changed.
The FTX founder said they “processed $5-6 billion of withdrawals over the few days during the crash” with some billions left in the company’s estate, but users are unable to cash out on falling currencies due to the bankruptcy. He said all clients were treated equally, no matter the kinds of transactions they made on FTX ⁠— despite the fact clients did sign up for different risk levels.

With no clear cut on what funds were part of the exchange FTX or part of other ventures, like trading firm Alameda Research, it was ‘first come, first served’ for whatever money was left, leaving some users in the lurch.
“If you look at the withdrawals that happened, they weren’t only coming from people who never used margin trading, futures, staking, or anything else,” Bankman-Fried said. “Those weren’t just withdrawals from people who were keeping 1:1 back or keeping them as pure spot balances.
If you’re saying we should have held off withdrawals for everyone with an open futures position, for clawback potential, maybe that would have been the right thing to do.
Stay tuned for more updates!

Join The Blocks today https://www.mrblocknft.com

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