Why do you think that they won’t just fill the gap with some of their 2021 profits? Need to guesstimate but this probably represents about 1-3 months profit for Jump Crypto or FTX.
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Replying to @macrocephalopod
There’s no actual profits that’s why they have to raise money every month or so, especially after market crashes.
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Replying to @macrocephalopod
Until they withdraw their money to the real world, nope. Tether gains don’t count.
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Replying to @Bitfinexed
How do you think they’re paying their ~100 employees?
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Replying to @Bitfinexed
Jump doesn’t do equity raises, it raises money for venture funds. Are you suggesting that they’re using LP money to pay staff…?
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Replying to @Bitfinexed
macrocephalopod Retweeted macrocephalopod
Ok, I thought we were talking about Jump. So do you think Jump profits are also fake? (fwiw I think FTX revenues are real but expansion costs and marketing probably exceed revenues rn)https://twitter.com/macrocephalopod/status/1489134801206620161 …
macrocephalopod added,
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Replying to @macrocephalopod @Bitfinexed
I think banking services for drw and jump are decent to go from stable to fiat . But that obviously changes during stresses this might be the first cycle when stables fail but until it happens tough to convince anyone . This is highest risk musical chairs.
1 reply 0 retweets 2 likes
Yeah that’s a reasonable worry.
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