Jesse Powell

@jespow ↗

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Last Checked April 3, 2023

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Wed Jan 18 03:26:11 +0000 2023

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Jesse Powell @jespow

@VanAmAdvisory @_DavidSFreeman So the exchange itself is taking the other side of the trades made by the users trading out of the "cold" custody balances? If you can only trade OTC or vs the exchange, it makes more sense. If you're trading on the normal order books vs retail, seems like printing fake coins. — PolitiTweet.org

Posted Jan. 18, 2023

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Jesse Powell @jespow

@sergitosergito @tomlombardi 1. where are the loans coming from? a) other client balances? b) exchange's own balance sheet? c) nowhere, fake numbers in a database 2. who's holding the collateral for the loans? a) exchange b) someone else? c) nobody? 3. in bankruptcy, how are losses distributed? — PolitiTweet.org

Posted Jan. 18, 2023

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Jesse Powell @jespow

@sergitosergito @tomlombardi So it's loans then. You get a loan against your (secured?) balance at some custodian. Where is the money for the loans coming from? Is there loan forgiveness if the exchange blows up? Does that count as taxable income? Is this only for Futures contracts and not spot trading? — PolitiTweet.org

Posted Jan. 18, 2023