Confusing bc as a semi casual observer I’ve seen the FTX guy all over the place. So his offshore exchange gone blown up and taken over but his onshore one is still around? The Chinese dude from Binance just dominated him and executed a hostile takeover? Wild. What’s the FTX guys next move?
What did CZ make up? By all indications, FTX had massive liquidity and balance sheet issues through Alameda or otherwise because they used a worthless FTT coin as collateral. Rumors about FTX needing to raise $5-6b to close holes. That's uhhhhh not made up allegations to destroy a competitor.
Play stupid games. No one forced SBF to lever up, issue dumb exchange tokens, presumably trade customer funds, or whatever other exotic dumb shit he got into.
Well over 6 figures. And yawn. If ever there are easy days to buy btc, it’s when price dumps because some shitty exchange acted like a shitty exchange. The price action today has literally nothing to do with my long term thesis.
IMAGINE IF MCDONALDS MADE CURRENCY CALLED CLOWN BUCKS great stuff lady, glad that's where you went with the strained metaphor
Sometimes it's better to say nothing than voice an opinion that reveals how dumb you are. This post is one of those times.
Checked Coinbase last night and got pissed that there's something called APTOS put out by Aptos Labs, because now there's a risk that some random crypto cultist will think I'm one of them because of my handle
Pretty much everyone has gone bust except Saylor....therefore that means it will happen, most entertaining outcome always wins
Lots of chatter that crypto.com is next. Today is lesson # gajillion not to keep anything on an exchange.
These Chinese businessmen are literally raised in this adversarial environment, they scratched and clawed their way to the top, absolute sharks every one of them.
@gator i pretty much disagree with you about all of this but i like that you are willing to answer questions how was the exchange that went boom today 1b insolvent? were they loaning people money based on crypto? i get that the binance dude threatened to crash the token they used to charge people to execute trades, but i am having trouble connected the dots here
i don't think they want to do 3. just wondering if there is a group who would be willing to buy a big ass chunk of that btc. i'm guessing not
very basic cliffs. They had a trading arm, they used their own FTT token as collateral. Binance, an early FTX investor, was divested and paid partially with FTT. He market dumped it early today.
what is the point of having a trading arm? were they not making money hand over fist by charging other people for trades?
Yes but they made a fuckton of money with Alameda during the bull run as well. SBF basically poked the bear by directly lobbying against Binance in DC last week and publicly throwing jabs at CZ.
Everyone made a fuckton of money during the bull, they were supposed to be the mit quant smart guys in the room.
i guess the one thing i do respect about gator is that he only buys btc and he doesn't trade it. seems like he has limited his downside to btc just going to 0 and not being fucked over by these 30 year old morons who overleverage themselves thinking that the bull run will never end