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But we saved everything 🙂.
FTX deployed $5 billion with no investor safeguards, Mike Belshe warns
Mike Belshe criticized FTX for using approximately $5 billion in customer money to make 475 investments, alleging that the capital was spent without proper investor discipline or tradeoffs and without the downside risks typically involved.
Belshe argued that when such a large sum is allocated with no safeguards, it is inevitable to achieve isolated successes. He further emphasized that these wins do not reflect skill but rather the result of reckless deployment of other people's money.
Belshe’s critique underscores ongoing concerns about responsible fund management and the safeguards necessary within digital asset institutions. His emphasis on prudent reserve and liquidity practices mirrors arguments he put forth regarding the importance of a 100 percent reserve and superior liquidity framework for digital currency firms. Furthermore, his continued advocacy for regulatory structure in the sector aligns with his views on the need for legislative clarity to drive progress and stability across digital asset markets.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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