You gotta be really bad at accounting to have billions invested in your company and still file for bankruptcy

…or be really certain that nothing will happen if you commit fraud.

These are the only explanations I see for the big CEXs that went broke last month.

If you take 0.5% in taxes in every transaction and your monthly volume is $500M, it's $2.5M in profits every 30 days or so, $30M a year. How tf can these people go broke? Am I just too poor to understand? They're probably commiting fraud from the beginning.

The list of shit like this is so big, in crypto and outside of it, that it seems we are lured from one scam to another. I honestly had enough of these crooks. It's a never-ending cycle of taking away buying power from retail.

Last bankruptcies are similar to what happened in the 2008 crisis: everyone to blame knew what they were doing, they just were certain that a bail out would come in the case of a crash. In crypto, it's robbery and "hacks" (how convenient) that save their asses. I believe they think that they can pay their way out of the shenanigans. So far, some have proven this to be right.

It's depressing and outrageous. How do you cope ffs?