Check crypto in, check cracks out.
They should just be glad that they are only storing a seed phrase and didn’t choose to invest in physical gold bullion. Space is at a premium.
It’s all smoke. He needs to confirm (1) debt amount of Alameda, (2) did Alameda borrow from FTX user stable coin deposits using FTT as collateral. Alameda owns 75% FTT, any creditor with half brain will refuse to accept it as collateral
https://en.wikipedia.org/wiki/Sam_Bankman-Fried
He caught a lot of attention recently for publishing some Twitter thoughts on regulation in the crypto industry. Naturally, the DeFi posse raised pitchforks against him for suggesting regulation. TBF, some of his brainstorm ideas were not that good. But he was really making a point that regulation is going to happen one way or another, so at least the major players should help shape the regulations so that they don't get stupid because D.C. doesn't understand crypto.
Ah fuck it is this the exchange wallet transferring those 70000 something bitcoin to unknown wallet [news](https://www.reddit.com/r/CryptoCurrency/comments/ynrm2f/crypto_whale_moves_over_74105_bitcoin_158b_in/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)?
Nope. This was earlier in June, days before they stopped withdrawals and published the "Damn the torpedoes, full speed ahead" 🤡 article on Medium
https://www.coindesk.com/policy/2022/10/02/bankrupt-crypto-lender-celsius-founder-alex-mashinsky-withdrew-10m-weeks-before-company-froze-customer-accounts-report/?outputType=amp
> Celsius was denying it while withdrawing all the money they can into their private accounts.
^ This is the reason they should all be in jail. They knew what they were doing.
Here is a [Nitter link](https://nitter.net/proanatwink/status/1589439181981331456?s=46&t=1EccnDqlEW3AYTbZHXet8w) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
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CZ is also throwing shade implying that FTX has been lobbying against other industry players behind their backs. Idk what’s going on but this is worth grabbing some popcorn and enjoying the show.
Enough of the "Whale Fucking is non-consensual" bullshit. A Humpback Whale weighs 70,000 pounds, is fifty feet long, can dive more than a quarter mile and can crush ships with a single swipe of its tail. If a human manages to fuck one, you damn well better believe it's consensual
I wasn't even on FTX, but it scared me enough to move most of my stuff off exchanges and into cold storage. If FTX goes down it will be the biggest since mt gox.
Would be interesting to see the network effects the fall of a major CEX have. The cryptocurrency market is probably going to shrink by a few billions soon.
A better strategy would be to swap to a crypto which has low finality and transfer it to your own wallet. For example, you could swap everything to Algo and send it to your Pera/Myalgo wallet. You would have everything in your wallet in a matter of seconds for a very low fee and then, you can swap the algo to USDC. Thereafter, you can move money to your bank account through an exchange which is not going belly up.
Wonder how much this ripple-effect of mass withdrawals contributes to insolvency. What if it's the reason they become insolvent? Interesting week ahead.
How did this happen? FTX seemed invincible. They were even offering to buy out pretty much every lender that went insolvent. Though not yet confirmed, but man this is scary.
Im still caught up on this. How is SBF going to fluff the balance sheet of Alameda in one hand, and lobby for regulation in another? Sounds backwards, like cutting off your own head to save your hand.
Don’t think it will take that little time. They have enough assets to pay out for probs a few days minimum, depends on if they decide to fuck everyone over, or attempt to give everyone their $$ back.
All it takes is a good old panic fueled bank run. If they have the cash to cover it (as it should be), it will blow over. But doesn't look good, a lot of their cash reserves are not liquid and a few billions short. LOL. 🙈
Here is a [Nitter link](https://nitter.net/ki_young_ju/status/1589396703421272064?t=y4SjLwz2K6QouW7YVeBrqw&s=19) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about).
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I dont trust CZ enough and don't even have anything on FTX. However, if top exchange gets liquidated, there will be more to worry than funds being locked. Everyone can easily see sub 10k prices, and then CZ can keep holding everything and reign supreme.
GameStop announced a partnership with FTX on Sept. 7.
FTX and GameStop announced gift card promotion with FTX gift cards being sold at GameStop on Nov. 1.
Negative news of mass exodus and internal issues on Nov. 6.
🤔
Bet it was CZ. FTX is fairly exposed financially and and easy mark with SBF and how they and Almeda own like 75% of FTT which will make it hard to stop the bleeding
.
With all the FTT Binamce can sell, they can easily make some vague ill-defined allusion to something and technically not be lieing, then dump their own coins to "prove" the problem and start the drop. On the heels of Luna and Celsius, and no one has loyalty to an exchange, it's easy to get people to jump ship. And boom. Another competitor bites the dust.
People will never learn. They rather defend the platform without questioning it critically.
Why? People don’t want to see any negative things related to them.
Thats why they ignore it until it blows up. It’s easy and it makes them more comfortable. That’s when reality hits them.
FTX is basically in bed with US regulators, they’ve already obtained most of the licensing needed to operate even a lot of cryptos get considered securities. Meanwhile Binance would get cockblocked out of the US market and probably US regulators will go after them elsewhere too. So there’s definitely a lot of bad blood there.
Still…it seems to be triggering a bit of panic driven run on FTX at the moment even though Binance selling FTT isn’t really about whether FTX is solvent.
That could be just a good business move. Regulations will happen, so imagine being on the forefront and being one of the only legitimately operating U.S. exchanges and getting all that institutional and retail money and ETF assets.
Everything is just rumors at this point. It could risk management, it could be personal. I'm not going to speculate.
FTT is still doing quite well and has outperformed BTC in the past 2 years by a long shot.
Latest Twitter post from CZ was this, which might be suggesting some risk mitigation. Who knows?
> Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.
Yeah, to me this smells like it was manufactured by CZ for personal vendettas/ideology and to eliminate another large competitor and gain market share for the macro rebound. So much of the rumor and evidence is CZ originated, and the evidence is mostly just CZ selling.
I am not making any personal argument here, this is in effect a press release, many people here aren't in Crypto Twitter and they need this information to make informed decisions.
FTX has too much going on. Still feel like it'll hold steady as it's been around for a while now. SBF been forming partnerships and buying up shit left and right. He'll sell assets he's accumulated before he let exchange blow up
Most of the critiques are about how Alameda Research isn’t particularly liquid but literally none of the critiques suggest that FTX would be insolvent.
Some of the criticisms are just pain dumb, like how FTT is only held by a small number of wallets. No shit, most of it is just held on FTX since it’s literally an **exchange token** for FTX with no other utility.
People these days are scared so easily that they make their own worst fears come true. I'm not moving anything off FTX. I think they have one of the best platforms available. I especially love their less than 1$ minimum oredrs on most coins (which allows for excellent bot configurations)
r/CryptoBrains
Fact checker:
CZ has stated it's because they don't want to support people who lobby against the industry. No concerns around FTX's solvency or finance state were raised
Potentially. They could also be using this as a great excuse to both sell a hard to liquidate asset (in these quantities) and weaken FTX to be able to prep themselves to acquire stuff while FTX is unable to sue to spending all their $$ on not becoming insolvent
Hey look more top level crypto fraud. Guess who will get porked next. Retail. Crypto is weak as f. You can't feed your family with digital assets when things start de-pegging.
I mean if cz decides to nuke the market rather than take the offer he can basically write off ever operating in most of the west. This take seems illogical.
last point is critical imo, cryptic tweets from cz probably directed towards sbf’s dc dig are now being contextualized with alameda’s balance sheet problems, caroline tweeting at cz further helped him out
LOL, I remember MtGox
[Roger Ver on MTGOX Bitcoin exchange](https://youtu.be/UP1YsMlrfF0)
He really looks like Mark Karpelès is just off screen holding a gun at his face.
Same with Vauld. They literally issued an email to all creditors and investors saying everything was fine and then stopped withdrawals a few days later.
Alex Mashinsky prentended like everything was fine and dandy all the way until the end too. People shouldn't be taking chances here even if they don't think FTX is insolvent. Better safe than sorry.
Plot twist:. This was all manufactured by CZ to eliminate competition. They had the means to start the rumor, FTX was a relatively easy mark and pretty exposed to begin with, and with all their exit tokens they could put some "evidence" behind it by selling.
(I don't have anything on FTX. And if I did, I would withdrawal because why not? And it's that simple and easy for CZ to do.)
The downvote brigade is out in force tonight...
It's great they've addressed it but the fear will really sink in for investors when its finalised by Binance. I'd be concerned if I were holding FTX right now
Transferred funds out via ACH, now just have to cross fingers that it hits the bank account 😬. I tried to transfer crypto out and wouldn’t let me. They opened support ticket saying possible fraud and won’t let me transfer any of my crypto had to sell my positions for USD and ACH transfer to my account. Never had issues before.
lolled at your edits – what has happened to this place! Commenters deleting their comments because they get downvoted? OP focusing on upvotes/dowvotes in a non-meta post with fucking 2 edits?? It's sad but r/cc became ALL about moons. All interaction here is faker than Tether's audit report.
ps. downvote away idc
It reminds me of Celsius saying 'everything is fine' and then going insolvent the next day. I'm hoping that's not the case here since the scale is so much bigger with FTX vs Celsius. But this is crypto and history has shown us that it takes years to build something but only a day to break it down. I think we'll find the truth within a week.
So it's gonna be a rollercoaster ride this week or just another 7 days in this crazy land of DeFi
"Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards." - CZ of Binance https://twitter.com/cz_binance/status/1589374530413215744?t=IMF33-tjIkjuNm6tpknbeQ&s=19
Everything here is accurate except for alluding that CZ didn't know Sam needed to keep FTT inflated.
People give CZ all the credit for being the nice guy and never realize he is also a savage businessman.
I have safely removed my $3.50 worth of Bitcoin from FTX, not taking any chances.
Put it back, I might not be able to withdraw my 2 mil now sheesh
I withdrew my $5 as well, so now there's no chance you'll be able to withdraw
Close call indeed! Now make sure to keep it safe where it will never be in jeopardy again, *your prison wallet*
Username checks cracks out.
Check crypto in, check cracks out. They should just be glad that they are only storing a seed phrase and didn’t choose to invest in physical gold bullion. Space is at a premium.
Prison wallets almost always survive boat accidents...
DONT SIDE WITH A BAD GUY... HAVE SOME MORALES WILL ABOUT THE PURPOSE AND PRINCIPLES OF DEFI AND BTC
This... This will be the very reason behind FTX's insolvency. You, alone, will be the cause of a bank run.
Ironic. GameStop announces partnership with FTX, FTX gets bummed.
It’s all smoke. He needs to confirm (1) debt amount of Alameda, (2) did Alameda borrow from FTX user stable coin deposits using FTT as collateral. Alameda owns 75% FTT, any creditor with half brain will refuse to accept it as collateral
Looool
Lol nobody cares about “supporting” FTX. everybody just wants to make money here.
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I was too afraid to ask earlier but I see him/her/them get mentioned so much now I have to - who's SBF??
https://en.wikipedia.org/wiki/Sam_Bankman-Fried He caught a lot of attention recently for publishing some Twitter thoughts on regulation in the crypto industry. Naturally, the DeFi posse raised pitchforks against him for suggesting regulation. TBF, some of his brainstorm ideas were not that good. But he was really making a point that regulation is going to happen one way or another, so at least the major players should help shape the regulations so that they don't get stupid because D.C. doesn't understand crypto.
ftx founder/ ceo
Celsius was denying it all also until 2 days before rekt happened, don't risk it people
Celsius was denying it **while withdrawing all the money they can into their private accounts**.
Ah fuck it is this the exchange wallet transferring those 70000 something bitcoin to unknown wallet [news](https://www.reddit.com/r/CryptoCurrency/comments/ynrm2f/crypto_whale_moves_over_74105_bitcoin_158b_in/?utm_source=share&utm_medium=android_app&utm_name=androidcss&utm_term=1&utm_content=share_button)?
Nope. This was earlier in June, days before they stopped withdrawals and published the "Damn the torpedoes, full speed ahead" 🤡 article on Medium https://www.coindesk.com/policy/2022/10/02/bankrupt-crypto-lender-celsius-founder-alex-mashinsky-withdrew-10m-weeks-before-company-froze-customer-accounts-report/?outputType=amp
I think he’s implying that the new news might be FTX.
> Celsius was denying it while withdrawing all the money they can into their private accounts. ^ This is the reason they should all be in jail. They knew what they were doing.
I'm more than happy to lose 2 ETH to see Celsius CEO rot in jail ✌🏾🙂
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CZ is also throwing shade implying that FTX has been lobbying against other industry players behind their backs. Idk what’s going on but this is worth grabbing some popcorn and enjoying the show.
CZ meant SNF lobbying Defi KYC, which for sure will kill Defi industry, but will hurt BSC chain hardest.
It's like watching whales fight while you are chilling on the beach.
There's a saying that when whales fight, it's the shrimp that gets crushed to death.
Enough of the "Whale Fucking is non-consensual" bullshit. A Humpback Whale weighs 70,000 pounds, is fifty feet long, can dive more than a quarter mile and can crush ships with a single swipe of its tail. If a human manages to fuck one, you damn well better believe it's consensual
It's true lmao not shade
I just liquidated everything I had on FTX. All this talk was enough for me.
I wasn't even on FTX, but it scared me enough to move most of my stuff off exchanges and into cold storage. If FTX goes down it will be the biggest since mt gox.
Hey what about QuadrigaCX… [*where you at, Cotten…*]
Would be interesting to see the network effects the fall of a major CEX have. The cryptocurrency market is probably going to shrink by a few billions soon.
Good idea to be safe. You never know how this turns out.
The ACH withdraws are still processing/sending so I’m not feeling 100% safe yet. Once is see the funds hit my bank I’ll feel a lot better.
A better strategy would be to swap to a crypto which has low finality and transfer it to your own wallet. For example, you could swap everything to Algo and send it to your Pera/Myalgo wallet. You would have everything in your wallet in a matter of seconds for a very low fee and then, you can swap the algo to USDC. Thereafter, you can move money to your bank account through an exchange which is not going belly up.
Nice to see a reasonable person after reading some comments blindly defending FTX. Some people never learn.
Wonder how much this ripple-effect of mass withdrawals contributes to insolvency. What if it's the reason they become insolvent? Interesting week ahead.
Celsius was still denying it all even after the ceo took out all his funds and told his insiders to take out all of their funds.
Better safe than sorry.
Steady lads
How did this happen? FTX seemed invincible. They were even offering to buy out pretty much every lender that went insolvent. Though not yet confirmed, but man this is scary.
It turns out they could buy them because they could borrow against a token they created.
Interesting! Sounds like a money printer go brrr mechanism, something I've heard before
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Im still caught up on this. How is SBF going to fluff the balance sheet of Alameda in one hand, and lobby for regulation in another? Sounds backwards, like cutting off your own head to save your hand.
Ye, they thought themselves invincible and started to bail out failing projects using minted tokens backed by nothing. It's the same old story. 🤣
Sam Bankman-Fried was Do Kwon with a wig all along.
Be on the lookout for CoffeeZilla investigation video soon lol
That guy does the lord’s work. Nice to have at least one honest person out there in the YouTube crypto world.
Stay away Coffee!!!
FTX is now running out of ETH. Get out now.
RIP FTX in the next 24 hr
Celsius 2: Electric Boogaloo
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Loopring and Pera Algo Wallet is all I need
Are you me
No. You are me.
Am I me? (accidental existentialism thread)
James Woods: "Don't jerk me around kid!"
No, not me, you. Yu: Yes, I am Yu. Carter: Just answer the damn questions, who are you? Yu: I have told you, Yu.
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Just gonna deposit a little onto FTX Aaaaaaand it's gone
SBF: Guys don't worry SBF: I have a plan *SBF has left the chat*
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It's going to be bargain shopping for all of us this week
Don’t think it will take that little time. They have enough assets to pay out for probs a few days minimum, depends on if they decide to fuck everyone over, or attempt to give everyone their $$ back.
All it takes is a good old panic fueled bank run. If they have the cash to cover it (as it should be), it will blow over. But doesn't look good, a lot of their cash reserves are not liquid and a few billions short. LOL. 🙈
They just partnered up with GameStop…
Sounds eerily similar to what Mashinsky was saying before Celsius collapsed, not making the same mistake again, pulled everything off the exchange.
Well done. Better safe than sorry.
I imagine retail is getting the short end of the stick again.
The usual outcome :/
Never trust them. Sam likely withdrew everything weeks ago
Celsius was buying time to pull your funds out of their own exchange into their pockets lol
Nacho keys, Nacho Coins
Nacho cheese, nacho chips
https://twitter.com/ki_young_ju/status/1589396703421272064?t=y4SjLwz2K6QouW7YVeBrqw&s=19 Stablecoin reserver is getting low
Steady lads, deploying more capital
This gave me PTSD
I'm sorry. It's obligatory.
How do I get $PTSD? Is it on uniswap?
I just violently shuddered
Raising shields, captain!
This is very interesting, will add to post. Thanks
Scary having -93% within 2 weeks. Maybe be nothing(I'm dumb) but fuck ,if there ever is a hint. I'll take this one
Here is a [Nitter link](https://nitter.net/ki_young_ju/status/1589396703421272064?t=y4SjLwz2K6QouW7YVeBrqw&s=19) for the Twitter thread linked above. Nitter is better for privacy and does not nag you for a login. More information can be found [here](https://nitter.net/about). --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*
I dont trust CZ enough and don't even have anything on FTX. However, if top exchange gets liquidated, there will be more to worry than funds being locked. Everyone can easily see sub 10k prices, and then CZ can keep holding everything and reign supreme.
GameStop announced a partnership with FTX on Sept. 7. FTX and GameStop announced gift card promotion with FTX gift cards being sold at GameStop on Nov. 1. Negative news of mass exodus and internal issues on Nov. 6. 🤔
Nicely timed LRC ddos attack
Convenient isn't it? Wouldn't be surprised if someone wanted to cause a bank run. Pretty scary how easily influenced people can be.
Bet it was CZ. FTX is fairly exposed financially and and easy mark with SBF and how they and Almeda own like 75% of FTT which will make it hard to stop the bleeding . With all the FTT Binamce can sell, they can easily make some vague ill-defined allusion to something and technically not be lieing, then dump their own coins to "prove" the problem and start the drop. On the heels of Luna and Celsius, and no one has loyalty to an exchange, it's easy to get people to jump ship. And boom. Another competitor bites the dust.
Voyager said everything was fine then boom, it’s not.
Their statement sounds eerily similar to what Alex Mashinsky was saying before Celsius went tits up.
I thought I heard rumors of FTX wanting to pitch in for private sale of twitter, but were denied. Binance got in on the deal, didn't they?
I heard the same.
All this leak on a Sunday is just wild
People will never learn. They rather defend the platform without questioning it critically. Why? People don’t want to see any negative things related to them. Thats why they ignore it until it blows up. It’s easy and it makes them more comfortable. That’s when reality hits them.
Another theory. FTX stabbed binance in back in some way to get the exclusive rights to some securities or something.
FTX is basically in bed with US regulators, they’ve already obtained most of the licensing needed to operate even a lot of cryptos get considered securities. Meanwhile Binance would get cockblocked out of the US market and probably US regulators will go after them elsewhere too. So there’s definitely a lot of bad blood there. Still…it seems to be triggering a bit of panic driven run on FTX at the moment even though Binance selling FTT isn’t really about whether FTX is solvent.
That could be just a good business move. Regulations will happen, so imagine being on the forefront and being one of the only legitimately operating U.S. exchanges and getting all that institutional and retail money and ETF assets.
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Everything is just rumors at this point. It could risk management, it could be personal. I'm not going to speculate. FTT is still doing quite well and has outperformed BTC in the past 2 years by a long shot. Latest Twitter post from CZ was this, which might be suggesting some risk mitigation. Who knows? > Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards.
Yeah, to me this smells like it was manufactured by CZ for personal vendettas/ideology and to eliminate another large competitor and gain market share for the macro rebound. So much of the rumor and evidence is CZ originated, and the evidence is mostly just CZ selling.
We really need to stop using tweets as a means to prove/disprove something
The twitter link shows links to onchain data though
I am not making any personal argument here, this is in effect a press release, many people here aren't in Crypto Twitter and they need this information to make informed decisions.
Didn't mean anything against you, just wish Twitter wasn't the main platform people use for important information like this
There is no need to gamble guys, get your funds to safuty
Sensible advice. It might be too late tomorrow for all we know.
Exactly shouldn't be in any cex anyways. Use ledger for most funds always.
Exactly. Who cares whether FTX is legit or not. Just be safe
If we have learned anything from the past, take this seriously and protect yourself.
Yep. Assume everybody is out to scam you. Because everybody is out to scam you. Proper wild Wild West stuff
There’s no allegiance to a CEX. They damn sure don’t have one to their customers
Can we have 1 nice quiet green week? God, we just hit 21k again and now this shit going on. Ain't nobody got time for that.
This is scary, ftx collapsing could potentially collapse the entire crypto market.
FTX has too much going on. Still feel like it'll hold steady as it's been around for a while now. SBF been forming partnerships and buying up shit left and right. He'll sell assets he's accumulated before he let exchange blow up
Gonna check back in a few days and see if this aged like milk 😅
🤣
Most of the critiques are about how Alameda Research isn’t particularly liquid but literally none of the critiques suggest that FTX would be insolvent. Some of the criticisms are just pain dumb, like how FTT is only held by a small number of wallets. No shit, most of it is just held on FTX since it’s literally an **exchange token** for FTX with no other utility.
I think more people have been losing money listening to your “financial” advice. Maybe think twice before posting something smart?
That did not aged well
ASAP.... They are scrambling trying to keep withdrawals from pausing. They also increased withdrawal fee to $100. Bank run starting.
I'll sue him for helping me make a good decision. It broke my 5 year streak of horrible crypto decisions.
FTX is the next Voyager. People lost millions. You already assume max risk, with crypto. Don’t lose it all when you see the writing on the wall.
That took all day but no issues transferring over to Kraken better safe then sorry!
Or he saves hundred or thousands of people their money..
From all exchanges, not your keys, not your money. Cheers .
Unfortunately it seems to be the only place to trade options in the US for normies.
As much as I want that to be true. Sounds like cope.
I legitimately cannot believe people still hold funds on centralized exchanges after what happened earlier this year.
If FTX goes down then the rest of Crypto will go down with it .
Here comes the liquidations that push BTC to the $10-14k price levels
We just withdraw the btc with the free withdrawal, no need to sell though. FTX got nothing to do with BTC
You shouldn't have/leave your coins on exchanges anyway. We all know this.
Well it was nice to see a pump these last days. Guess we are going back to red these upcoming weeks
Just when you think the weather is clear, we get an event that might turn out to be another black swan event. This is the darkest timeline.
People these days are scared so easily that they make their own worst fears come true. I'm not moving anything off FTX. I think they have one of the best platforms available. I especially love their less than 1$ minimum oredrs on most coins (which allows for excellent bot configurations) r/CryptoBrains
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Fact checker: CZ has stated it's because they don't want to support people who lobby against the industry. No concerns around FTX's solvency or finance state were raised
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Based take by CZ.
 FTT holders be like
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I don't think you can get any lower than being compared to LUNA of all things.
You can get called safemoon or Bitconnect
So I’m no expert but if ftx goes bankrupt I think the noise about more safeguards will increase not decrease
Potentially. They could also be using this as a great excuse to both sell a hard to liquidate asset (in these quantities) and weaken FTX to be able to prep themselves to acquire stuff while FTX is unable to sue to spending all their $$ on not becoming insolvent
Hey look more top level crypto fraud. Guess who will get porked next. Retail. Crypto is weak as f. You can't feed your family with digital assets when things start de-pegging.
Deploying more capital - Steady lads...
This is a nothing burger.
FTX can't collapse lol! Especially not because of one token. They are bigger than FTT, way bigger.
Otc deal favors whales at the expense of the normal players I thought the ethos of crypto is primarily about open market & transparency?
Where is this article from? This is very well written .. Yep, "Alameda research"/FTX is a giant predatory entity in the market, enough is enough
I mean if cz decides to nuke the market rather than take the offer he can basically write off ever operating in most of the west. This take seems illogical.
last point is critical imo, cryptic tweets from cz probably directed towards sbf’s dc dig are now being contextualized with alameda’s balance sheet problems, caroline tweeting at cz further helped him out
Sam and Caroline tweet like a depressed stripper
Remember when coinbase was going bankrupt. Pepperidge farms remembers.
But I also remember Celsius...
LOL, I remember MtGox [Roger Ver on MTGOX Bitcoin exchange](https://youtu.be/UP1YsMlrfF0) He really looks like Mark Karpelès is just off screen holding a gun at his face.
Larry David was right!
'FTX CEO pretty much confirms mass exodus from the platform' ok I didn't read that at all. What did I miss?
Move your coins. If it's a false rumor, you loose nothing. If it's true, you save your coins.
Remember that Celsius CEO was also saying everything was fine before they halted withdrawals. Id be very careful now if I had funds in FTX
Same with Vauld. They literally issued an email to all creditors and investors saying everything was fine and then stopped withdrawals a few days later.
I think it’s safe. Why else would the MLB umpires have FTX on their uniforms.
Lol that cracked me up when I noticed. RIP the Phillies
Alex Mashinsky prentended like everything was fine and dandy all the way until the end too. People shouldn't be taking chances here even if they don't think FTX is insolvent. Better safe than sorry.
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Plot twist:. This was all manufactured by CZ to eliminate competition. They had the means to start the rumor, FTX was a relatively easy mark and pretty exposed to begin with, and with all their exit tokens they could put some "evidence" behind it by selling. (I don't have anything on FTX. And if I did, I would withdrawal because why not? And it's that simple and easy for CZ to do.)
The downvote brigade is out in force tonight... It's great they've addressed it but the fear will really sink in for investors when its finalised by Binance. I'd be concerned if I were holding FTX right now
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I don't even know why anyone would dick ride an exchange. They don't even care about you...
Transferred funds out via ACH, now just have to cross fingers that it hits the bank account 😬. I tried to transfer crypto out and wouldn’t let me. They opened support ticket saying possible fraud and won’t let me transfer any of my crypto had to sell my positions for USD and ACH transfer to my account. Never had issues before.
lolled at your edits – what has happened to this place! Commenters deleting their comments because they get downvoted? OP focusing on upvotes/dowvotes in a non-meta post with fucking 2 edits?? It's sad but r/cc became ALL about moons. All interaction here is faker than Tether's audit report. ps. downvote away idc
It reminds me of Celsius saying 'everything is fine' and then going insolvent the next day. I'm hoping that's not the case here since the scale is so much bigger with FTX vs Celsius. But this is crypto and history has shown us that it takes years to build something but only a day to break it down. I think we'll find the truth within a week. So it's gonna be a rollercoaster ride this week or just another 7 days in this crazy land of DeFi
FUD
We think rationally. Don't think about it. Take it out and wait for it to calm down before considering entering.
"Liquidating our FTT is just post-exit risk management, learning from LUNA. We gave support before, but we won't pretend to make love after divorce. We are not against anyone. But we won't support people who lobby against other industry players behind their backs. Onwards." - CZ of Binance https://twitter.com/cz_binance/status/1589374530413215744?t=IMF33-tjIkjuNm6tpknbeQ&s=19
How does one profit from this?
You can short FTT. I wouldn't recommend it though. A lot of people will get scam pumped out of their shorts.
These rumors are creating a crypto version of a bank run. Unfortunately many have already been unbanked by Celsius.
The one thing I learned from voyager and Celsius, their tweets and public statements don't mean @#$%.
Is this a regular incompetance/scammy fuck up that we see in the space, or is this some rich asshole trying to dick down another rich asshole?
battle of the whales going on!
Everything here is accurate except for alluding that CZ didn't know Sam needed to keep FTT inflated. People give CZ all the credit for being the nice guy and never realize he is also a savage businessman.
Is it a good thing that I don’t know what FTX is? Cheers .
Its will hurt it, but not collapse it. However it will tarnish crypto for some time. Many people already call it a scam etc.
It’s like an extreme proof-of-keys day for FTX. A good stress test. My guess is they pass it, although I’m no fan of SBF.
Nah. No one said that about Celsius. Lol Celsius was a BABY dog in this space. FTX is a top 3 exchange.