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SBF
@SBF_FTX
Assignment: what story explains this? Please use character development and quantitative reasoning. 5 paragraphs, 2 pages double spaced.
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b.biddles
@thalamu_
anyone know what's up with finex? is this accurate? from @thetokenanalyst
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SBF
@SBF_FTX
(If you want to email info@alameda-research.com, we’ll give an interview to anyone who can tell the full story!)
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SBF
@SBF_FTX
1/ Some people gave most of the story here. b) BTC/USD becomes rich on Bitfinex c) people send BTC to Bitfinex d) people sell BTC for USD on Bitfinex e) people withdraw USD from Bitfinex f) people send USD to other exchanges g) people buy BTC, completing the arb
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SBF
@SBF_FTX
2/ This means that crypto is moving in and fiat is moving out, thus the net BTC inflows. Note that selling BTC/USDT does *not* explain this. (a) you would likely just see USDT crypto outflows; (b) the BTC/USDT arb is generally kept in line between BFX and other exchanges.
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SBF
@SBF_FTX
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@SBF_FTX
3/ So that's most of the story. But we're missing the character development. I started at (b). What's (a)?
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