David Sacks

@DavidSacks ↗

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Last Checked Dec. 30, 2022

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Thu Nov 24 15:51:18 +0000 2022

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David Sacks @DavidSacks

Describing what happened as “a run on the bank” is deceptive since FTX was not a bank. Banks have the right to lend customer deposits; FTX did not. Customers kept those deposits for one purpose only: to trade. Appropriating those funds crossed the brightest of all red lines. — PolitiTweet.org

Posted Nov. 24, 2022

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David Sacks @DavidSacks

@brooke “Strategic communications” — you mean like what SBF did? — PolitiTweet.org

Posted Nov. 24, 2022

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David Sacks @DavidSacks

One of the ways the media tries to minimize the FTX fraud is to put it in the “crypto is sketchy” bucket. Actually the issue is the misappropriation of customer deposits on an exchange. If FTX had been trading pork bellies, orange juice or silver, the crime would be the same. — PolitiTweet.org

Describing what happened as “a run on the bank” is deceptive since FTX was not a bank. Banks have the right to lend… https://t.co/aXydzaop89

Posted Nov. 24, 2022