>Nobody, literally nobody, said Bernie Madoff was "suffering from a solvency crisis." They said he lied and stole money. And yet SBF's alleged crimes are quite similar in nature,
It's even worse that that: they give SBF a free pass on referring to FTX's issues as being a liquidity problem, which implies his venture was solvent, but just needed more time to extract the value of its investments, even though that too is obviously false, and no amount of time would let him convert FTT etc to value he claimed in his books.
It's even worse that that: they give SBF a free pass on referring to FTX's issues as being a liquidity problem, which implies his venture was solvent, but just needed more time to extract the value of its investments, even though that too is obviously false, and no amount of time would let him convert FTT etc to value he claimed in his books.
Edit: My earlier comment on abuse of the concept of "liquidity": https://news.ycombinator.com/item?id=33539326