FTX created FTT tokens out of thin air and exchanged them for cash with depositors which he then loaned to his Hedge Fund to invest w/ FTT tokens put up as collateral .
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FTX Musings
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FTX created FTT tokens out of thin air and exchanged them for cash with depositors which he then loaned to his Hedge Fund to invest w/ FTT tokens put up as collateral .