Quote:
Originally Posted by DrunkBassGuitar
It's almost totally unregulated
that's why something like FTX can act as a bank and make trades with the money in their depositor's accounts and also issue their own commodities
this also isn't the first time this has happened. there was that magic the gathering website that became a bitcoin bank that just kind of absconded with all of the deposits one day
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What could go wrong if I put my money in a market and a financial instrument that’s not regulated, nor backed or insured by anything?