If you have your money invested in some safe government treasuries with a broker you think you can trust until one day you find out to the surprise of both you and the entire financial system that the broker you're keep your government treasuries with are using them as collateral to fund bunch of risky crap they weren't telling you about. Sure you've lost everything but I mean you could have brought the treasuries directly from the government and held them yourself, right?
I highly doubt most people with crypto on FTX were day trading. My guess is most just held their crypto with FTX because like stocks and bonds it's generally easier to hold them with a broker.
The same argument could be made about cash in the bank. Do you keep all your money in cash under your bed or do you trust your bank isn't going to do illegal crap with it? Oh wait, let me guess, I bet you're day trading your cash for food and shelter instead of keeping it locked in a safe buried 10 feet under ground?
My point is in any normal market the government would have stepped in if this were to happen. Crypto investors deserve similar protections as investors in other asset classes. They also deserve our sympathy. These weren't the degenerate gamblers you're paining them as.
I highly doubt most people with crypto on FTX were day trading. My guess is most just held their crypto with FTX because like stocks and bonds it's generally easier to hold them with a broker.
The same argument could be made about cash in the bank. Do you keep all your money in cash under your bed or do you trust your bank isn't going to do illegal crap with it? Oh wait, let me guess, I bet you're day trading your cash for food and shelter instead of keeping it locked in a safe buried 10 feet under ground?
My point is in any normal market the government would have stepped in if this were to happen. Crypto investors deserve similar protections as investors in other asset classes. They also deserve our sympathy. These weren't the degenerate gamblers you're paining them as.