It gets cystal from customer, sells cystal to get cash, invests the cash in bonds to pay customer interests, now customer wants their crystal back, SI sells bonds at a lower price to buy back crystal, because the crystal price has dropped far more than bonds, it should earn money instead of lossing money!
SI lost 700 million! Is it fraud?
FTX has SI shares as assets, will court force liquidating SI shares?
Will be very interesting to see COIN earnings report.
https://wallstreetcn.com/articles/3679167
