Hacker News
new
|
past
|
comments
|
ask
|
show
|
jobs
|
submit
login
pranshum
on Nov 8, 2022
|
parent
|
context
|
favorite
| on:
Binance to acquire FTX
"Every banker knows that if he has to prove he is worthy of credit, in fact his credit is gone." - Bagehot
BLanen
on Nov 8, 2022
|
next
[–]
"Exchanges"(Exchanges and brokerages in one) are not supposed to be banks. Everything can be withdrawn from brokerages without them being insolvent.
pranshum
on Nov 8, 2022
|
parent
|
next
[–]
If the brokerage provides leverage to its customers, it can be subject to the same sort of bank runs that a normal bank can.
edouard-harris
on Nov 8, 2022
|
prev
|
next
[–]
Indeed. And in this case, it was from one day to the next.
AlexMoffat
on Nov 8, 2022
|
prev
[–]
+1 That's a great book.
Guidelines
|
FAQ
|
Lists
|
API
|
Security
|
Legal
|
Apply to YC
|
Contact
Search: