Some friends compare FTX with financial leverage and Alipay Jiebei...

Can they be the same?

Financial leverage and Alipay Jiebei are lending products. Whether it is a user's fixed deposit or wealth management fund, it is originally used for lending and entrusted investment. Otherwise, where does the interest and yield come from? It is impossible that the money will increase by itself when it is put in!

But users use CEX, which is not the same product as deposits and wealth management funds.

When the user's funds are put in, the source of the user's income is the user's independent investment, which has already borne a layer of independent investment risk. There is also the risk of the principal being misappropriated and then not being recovered...

When a user takes a credit loan, the borrowing institution bears the risk. Because the lender may not be able to pay back the money. Therefore, the lender has to pay interest. The party that bears the risk must obtain the corresponding risk return as compensation!

When users deposit money, they bear low risk, because the basis for banks to lend is the mortgage or credit of the lender. Therefore, when deposit users bear low risk, they also get low yield returns.

When users purchase wealth management products, they bear higher risks. Because wealth management funds are used to invest in some high-risk combinations. However, the operation of financial management funds has relatively more professional investment capabilities. Therefore, financial management users have the opportunity to obtain higher returns when taking higher risks.

In the exchange, users invest independently. They take higher risks and have the opportunity to obtain higher returns.

Users play leveraged products and take particularly high risks, but users also have the opportunity to obtain particularly high returns.

However, what rewards do users get when they take the risk of the exchange misappropriating their funds? ! ! ! !

Can this be the same? !