There was never "billions" of deposits in the first place. Someone mints a coin ... | Hacker News

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		gitfan86 on Dec 14, 2022 \| parent \| context \| favorite \| on: The United States of America vs. Samuel Bankman-Fr... There was never "billions" of deposits in the first place. Someone mints a coin and pays FTX 5 million to list it. Then that person pays influencers and invests themselves to get the price of the coin to go up. Now on paper that coin is worth "100 million". But in reality only 8 million dollars has been spent.

rvba on Dec 14, 2022 [–]

This is often very ignored in analysis, most (if not all) those coins have prizes based on inflated valuations.

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