[Press Quote] On the Trial of FTX Founder S.B.F.

FNDX’s founder Rahul was quoted by the Hindi daily Dainik Jagran Prime with regard to the trial of FTX founder Sam Bankman-Fried.

Quotes in English:

"FTX shouldn't have been lending tokens at all, leave alone to its sister company Alameda. Because it was an exchange, not a bank, it should have been able to account for 100% of its customer deposits."
  
"FTX was exactly the kind of Wall Street firm which caused the 2008 financial crisis. Ironically, Bitcoin was created as a reaction to the enormous damage caused by poor practices at such firms."
  
"In fact, FTX should not be considered a crypto company. It was a traditional, centrally-managed organisation. In contrast, crypto-native products run on transparent smart contracts and give users real control over their tokens."

FNDX hopes coverage of this trial makes clear the difference between traditional companies that happen to be in the blockchain space, and blockchain-native products. ★