CI1 General discussion, page-3390

So it’s been alleged owner FTX Sam Bankman a day before declaring bankruptcy transfers est U.S $1,000,000,000 that’s BILLION to his now Ex girlfriend hedge fund company, a 13 year old kid can see how bad this looks when transferring funds a day before bankruptcy.

Further more I read on the net the consideration to regulate BNPL industry in Australia and in Hong Kong a license to be required similar to credit card license. Every customer applying BNPL will need by law to be credit check which then requires extra staff and most likely create a shortage of customers as customers failing the checks imo.

Regulation may or may not happen but when it does know that YOU took the bait, YOU decided to play in an unregulated industry. Be very prepared for that one day of a HARD CORE SCRUTINY harder than what Banks get by government bodies once regulated imo, I’ll call it the Governments cash cow when regulated. If you failed the government standards of ethical practices etc even whilst you were unregulated the future will potentially turn and bite your ass off with some HEAVY HEAVY FINES. Sam Bankman FTX prime example perhaps a warning to the unregulated industries, the U.S congress have questions for Sam many questions lol. So where’s Sam now? in jail waiting to get deported to the U.S, not bad for the unregulated industry now faces accountability imo all are accountable.

The BNPL space will have a lot to answer for imo it’s evident the amount of people un able to make repayments hence the losses BNPL companies that suggest a percentage of people would not have gotten loans if ethical credit checks were used. Then the Question becomes how much will government bodies fine the BNPL companies for allegedly taking advantage of vulnerable customers that shouldn’t have gotten the loans in the first place etc. either pay up or bye bye imo.


not professional DYOR