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Sorry ! But DCA is not always the way

One way to ride the crypto wave - momentum trend

SBF's FTT Coin Surging as New CEO Predicts Resurrection of Bankrupt Crypto Exchange FTX

r/CryptoCurrencySee Post

Being a scam does not mean that it can not pump. And making a 4x in some weeks does not mean it's no scam.

r/CryptoCurrencySee Post

Who are the most hated scammers ever in the cryptocurrency industry?

SBF's FTT Coin Surging as New CEO Predicts Resurrection of Bankrupt Crypto Exchange FTX

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Scammers created FTX 2.0 token

r/CryptoCurrencySee Post

SBF's FTT Coin Surging as New CEO Predicts Resurrection of Bankrupt Crypto Exchange FTX

r/CryptoCurrencySee Post

FTX's Native Token FTT Surges As CEO John Ray Eyes Exchange's Restart

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Crypto converter

r/CryptoCurrencySee Post

FTX's $5.5 Billion in Alleged 'Liquid Assets' Includes Locked SOL Cache and Illiquid FTT Holdings

r/CryptoCurrencySee Post

Why on earth did FTX's exchange coin FTT pump 58% today and 274% since January 1st 2023? And why can FTT (and other trash like LUNC) still be traded op top exchanges?

r/CryptoCurrencySee Post

The inevitable dump has started but on a day economic outlook seemed brighter! One day, we will understand the markets!

r/CryptoCurrencySee Post

Why are people still playing with FTT token?

r/CryptoCurrencySee Post

It's a clowns world! FTT up by 170% this week, currently at $2.55

r/CryptoCurrencySee Post

FTX 'recovers' 5bn only days before FTT skyrockets over 100%

r/CryptoCurrencySee Post

Beyond the blockchain into intelligent pricing

r/CryptoCurrencySee Post

I lost over $500k in CeFi yield products. Here's my reflections and message to this community

r/CryptoCurrencySee Post

[Serious] what makes you irrationally angry about crypto?

r/CryptoCurrencySee Post

[SERIOUS] Solana-based BONK token had went up over 4000% and today is still easily above 10x its initial price , yet has atrocious tokenomics. Only 5% of tokens are explicitly allocated(at least initially) to liquidity on the open free market.

r/CryptoCurrencySee Post

[SERIOUS] SBF was bad but CZ has been hugely predatory. He has massively taken advantage of the situation he catalysed in several ways as billionaires just do billionaire things

r/CryptoCurrencySee Post

[SERIOUS] FTX Customers who withdrew in days, weeks or even months before bankruptcy could have their funds taken back

r/CryptoCurrencySee Post

[SERIOUS]FTX Customers have collectively lost $4.7 Billion dollars of their frozen funds since FTX collapse began to date

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Solana joins ranks of FTT, LUNA with SOL price down 97% from peak

r/CryptoCurrencySee Post

SEC let's talk

r/CryptoCurrencySee Post

Why FTT & FTX has me questioning faith in Ethereum.

r/CryptoCurrencySee Post

Bankman-Fried posts $250M bail with FTT as collateral

r/CryptoCurrencySee Post

Why on earth is FTX's native token FTT pumping so hard upon news that FTX founder Sam Bankman-Fried is to be released on $250 million bail?

r/CryptoCurrencySee Post

SEC Classifies FTT as a Security, Could Binance's BNB Be Next

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FTX's 2020 Blockfolio Acquisition Made Up of 94% in FTT Tokens: Report

r/CryptoMarketsSee Post

SEC Classifies FTT as a Security, Could Binance's BNB Be Next?

r/CryptoCurrenciesSee Post

FTX's Blockfolio Stake Was Paid for Mostly in FTT: Bloomberg

r/CryptoCurrencySee Post

SEC identifies the FTT Exchange Token as a Security.

r/CryptoCurrencySee Post

We all owe Caroline Ellison a huge round of applause.

r/CryptoCurrencySee Post

Caroline Ellison and Gary Wang turned on SBF, rattling him out to the Feds. The SEC’s civil (non-criminal) complaint is built on their participation and gives us our first “insider’s account” of the FTX disaster, see 12 takeaways below

r/CryptoCurrencySee Post

SEC Calls FTT Exchange Token a Security

r/CryptoCurrencySee Post

SEC charges Caroline Ellison with fraud over FTX price manipulation

r/CryptoCurrencySee Post

Alameda Research scammed people using users funds and resulted in ~98% drop in the FTX's token FTT. Meanwhile Reef Coin (r/ReefDeFi) dropped ~96%, Reasons? Obviously the answer is not bear market

r/CryptoCurrencySee Post

[SERIOUS] Binance - FUD or not? The truth

r/CryptoCurrencySee Post

SBF gave Binance 2.1 billion USD of crypto (mostly FTT). Binance dumped the FTT. If you are an FTX victim, do you think CZ / Binance should return some of that money to FTX victims?

r/CryptoCurrencySee Post

According to this video, SBF gave Binance 2.1 billion USD of crypto (mostly FTT). Since Binance dumped the FTT, are they responsible for returning funds to any of the people who lost money on FTX? This seems like the responsible thing to do if you're CZ.

r/CryptoCurrencySee Post

SBF won't contest U.S. extradition, one week in Fox Hill saw to that

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Bitfinex and the "LEO" Token - Is This FTT 2.0?

r/CryptoCurrencySee Post

Most of this Binance FUD is baseless and silly. Everyone should always self custody bitcoin or any coins they're not trading with but don't be naive that there aren't people with ill intentions right now

r/CryptoCurrencySee Post

CZ "actually kinda forgot about $500 mil"

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DYOR framework: A guide on how to research and study a project before the next bull run

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[SERIOUS] Should I feel safe keeping funds on Coinbase?

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Imagine that crypto is now regulated. So what? Are we safer?

r/CryptoCurrencySee Post

Binance FUD

r/CryptoCurrencySee Post

News Organizations and Binance Blame

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The Future of Stablecoins

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FTT investors' claims to be investigated for securities laws violations

r/CryptoCurrencySee Post

Talks of Issuing a New FTT Token Fuel Coin’s Price Despite FTT's Broken Tokenomics Scheme – Bitcoin News

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Three Arrows Co-founder Zhu Su Criticizes FTX’ SBF in Twitter Thread

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FTX Co-Founder Sam Bankman-Fried To Testify In Front Of US House Financial Committee - FTX Token (FTT/USD)

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SBF Supports Restarting FTX and Issuing New FTT Token to Creditors

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[SERIOUS] Why aren't paid spokepersons like Kevin O'Leary or Bitboy forced to pay back users who listened to them - after they took payments to promote a scam?

r/CryptoCurrencySee Post

Since it is quite obvious by now that the cryptocurrency market, just like its sister the stock market thrive in no to low interest rate environments, it is my belief that the bear market we are currently in could last a whole lot longer... here's why:

r/CryptoCurrencySee Post

Over $5M Stolen From Ankr Protocol, Binance Pauses Withdrawals. Another case of unlimited backdoor shitcoin printing possibly by insiders then playing victim claiming “hack” BNB the new FTT?

r/CryptoCurrencySee Post

How FTX used Hong Kong cash-for-crypto shop to turbocharge growth: Financial Times in-depth research

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Does staking allow centralized token to be "invested"?

r/CryptoCurrencySee Post

I have a theory about what happened with SBF/ FTX, likely unpopular but it's neither fraud nor mistake.

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[SERIOUS] SBF and the anonymity problem

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SBF admits exchanges like FTX issue fake Bitcoin.

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78% Bitcoins Circulating Supply Illiquid As Investors Refuse To Sell Amid FTX Contagion - FTX Token (FTT/USD), Bitcoin (BTC/USD)

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[SERIOUS]SBF's mother Barbara Fried received a $1 Million 'donation' from FTX likely using customer funds

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What is crypto? answering this correctly could solve most problems in the industry related to fraud.

r/CryptoMarketsSee Post

Timeline of FTX's falldown

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Fall of FTX

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Sam Bankman Fried Still Thinks FTT Was “More Legit” Than Most Tokens

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Sam Bankman Fried Still Thinks FTT Was “More Legit” Than Most Tokens

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FTX fans and Solana fans are the same people, prove me wrong

r/CryptoCurrencySee Post

Some concerns about Binance and its token that are worth paying attention to, but no panic needed

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Sam Bankman-Fried AUDIO SBF Talks Backdoor, FTT Run on the Bank, Bankruptcy, Democrat Donation Pt 1

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Trust-Minimizing Proof of Solvency & Safe Cex Requirements

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Kevin O'Leary might be the stupidest person in crypto. Listen to this interview about SBF and FTX

r/CryptoMarketsSee Post

As much as I hate seeing my fellow investors lose money, I’m glad that power is being taken away from CEXs and being restored back to DeFi.

r/CryptoCurrencySee Post

BITBOY is full of shit.

r/CryptoCurrencySee Post

FTX's Terms of Service forbade them from trading with customer funds, but SBF found a loophole to do so anyway

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bias in crypto reporting from crypto publications?

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[SERIOUS] 50% of Justin Sun's Huobi Reserves Are Made Up of HT and TRX Tokens That Are Centrally Controlled By Sun and Huobi

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Conspiracy Theory: Despite not being ready, FTX forced Aptos to launch early in a last ditch effort to save themselves.

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When the headlines hit that FTX, the third largest crypto-exchange was filing for bankruptcy, it took the web3 industry by storm.

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Conspiracy Theory: Despite not being ready, FTX forced Aptos to launch early in a last ditch effort to save themselves.

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Interest ideas from Buttcoin for thought

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Looking at Binance's Role/Place in the FTX Fallout and Crypto Market as a Whole

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[SERIOUS] Latest detailed Bankless episode - Most of the 2021 Bull run was caused by a ponzi system created by the crypto hedge funds and yield farming protocols

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Analyst Predicts Aftermath for Solana, Serum, Sushi and FTT Following Downfall of FTX and Sam Bankman-Fried - The Daily Hodl

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Can we get a moratorium on FTX posts please? Maybe just a couple of days?

r/CryptoCurrencySee Post

Can we get a moratorium on FTX posts please? Maybe just a couple of days?

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Understanding The Rise And Fall Of FTX, FTT And Alameda Research

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Research: Genesis received over $1B worth of FTT from Alameda, FTX in last 3 months

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BoE speculates FTT token fire sale may have sparked FTX collapse, calls for widespread regulation

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Why Centralised Crypto Needs Regulatory Oversight.

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Litecoin is officially moving up the market rankings.

r/SatoshiStreetBetsSee Post

Tether Scrutiny: Will It Be the Next LUNA and FTT?

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Victims of the 2022 Crypto Bear Market

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Don't support scams, always check what that post is about

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$FTT is still trading way,way higher than it should be in some places, whats the deal, it should be worth ZERO, dont you get it, Z-E-R-O!!!

r/CryptoCurrencySee Post

Alameda Research Transacted Over $50M Since Date of Bankruptcy, With $11M Deposited To Binance. Transactions Still Ongoing

Mentions

Anything SBF and do kwon as touched in the past luna, FTT, Sol. Anytime they pump I feel we are making money for those scammers.

Mentions:#FTT

I disagree with a lot of your arguments: > ✔️DCA strategy has been mostly recommended due to the assumption that the market is overvalued . At some point of time it will start diving and touch the rock bottom before a bounce. So people investing at higher prices bring there average down by investing consistently with the falling market but what if the market doesn't fall and keeps climbing ? We will be waiting for it to turn directions but what if that doesn't happen ? So a lump sum investment would have been really beneficial for this scenario. That's not the point of DCAing at all. If people have been telling you that, they've been lying or don't understand the point of DCAing. You DCA to get an average cost. This protects you from buying in an unopportune moment when the price was high. If you lump sump at the wrong time you can have losses for a long time. DCAing protects you from this. The point of DCAing is not to increase your profits, but to reduce your risk. With DCAing it's a guarantee you didn't lump sum at the ATH, but it's also a guarantee you didn't lump sum at the ATL of this cycle either. DCAing guarantuees you didn't get the worst price at the cost of not getting the best price. So you're reducing your risk. Furtheremore, with DCAing you're buying more crypto when the price is low and less when the price is high. So in this regard you'll have a better average price than just buying the same amount of crypto each month. (Which is another method to reduce your risks.) ​ > ✔️The worst problem i have faced is calculating my average price , the sheer amount of transactions if you are DCAing daily and that too manually , is a pain in ass. This makes analysing the true return a difficult job. There's no advantage to DCAing daily. Monthly is frequently enough. ​ >✔️One important thing that a lot of people have to realise is that DCA cannot save you from LUNA,FTT and whatnot. Yeah DCAing eliminates the worry to a significant level but it cannot be thought as a substitute to DYOR. You will still loose money if DCAing in bad projects. Well lump sum investing won't protect you either. > A lot of times i have witnessed that a significant amount of money rarely goes into the market if it changes directions and ends up going opposite to your expectations . That's not DCAing. With DCAing you invest, no matter in which direction it goes. ​ >⚡Now comes the big reveal - I have been DCAing and using my own strategy for as long as my money has been in the market. Something that i would recommend to fellow users is to practice patience as it is a key part of my strategy. So when market is going down , hovers at a point for long enough and reddit is filled with suicide hotlines i invest a lump sum. It would be like 50% of my DCA cash goes all in at once. It has really been beneficial to me atleast. Timing the market requires good knowledge of the market. Especially for new users it's far better to tell them to DCA.

There's a lot I disagree with here. >DCA strategy has been mostly recommended due to the assumption that the market is overvalued . At some point of time it will start diving and touch the rock bottom before a bounce. So people investing at higher prices bring there average down by investing consistently with the falling market but what if the market doesn't fall and keeps climbing ? We will be waiting for it to turn directions but what if that doesn't happen ? >So a lump sum investment would have been really beneficial for this scenario . Sure, no one knows the future so I don't disagree here. >✔️The worst problem i have faced is calculating my average price , the sheer amount of transactions if you are DCAing daily and that too manually , is a pain in ass. This makes analysing the true return a difficult job . Yeah, I don't analyze. It will be tough knowing what my biggest wins are. Who cares. I'm just buying til I'm rich. >✔️One important thing that a lot of people have to realise is that DCA cannot save you from LUNA,FTT and whatnot. Yeah DCAing eliminates the worry to a significant level but it cannot be thought as a substitute to DYOR. You will still loose money if DCAing in bad projects. These two things aren't even related. Obviously if you're DCAing Luna it won't save you. Neither will lump sum. >✔️ Although it ia related to the 1st point but we can say the amount of time your money spends in the market is very less compared to a lump sum investment since e dollar-cost averaging method encourages people to hold a significant amount of their investments in cash. A lot of times i have witnessed that a significant amount of money rarely goes into the market if it changes directions and ends up going opposite to your expectations . You think DCA "encourages people to hold a significant amount of their investments in cash."???? They don't have cash! DCA is for people who are paycheck to paycheck. We don't have the lump sum so we DCA. I feel like this argument is treating the strategy as a strategy by choice when it's a necessity for most.

DCA cannot save you from LUNA, FTT and whatnot? Yeah neither can lump sum purchases.

Mentions:#LUNA#FTT

Same future as Luna, FTT, etc. Just pump and dump shitcoin.

Mentions:#FTT

Not all crypto is the same. There was certainly a house with FTT.

Mentions:#FTT

1) Inflation rate. Dont buy coins that have an inflation rate above 10%, especially if you plan on holding them for longer time. By the time the next bullrun happens, your ass will be left with a super cheap coin that needs more than its triple market cap to reach it ATH again. 2) Functionality and usefulness: buy a useful coin with a clear purpose that will still be useful in the future. meme coins are a gamble, expect whatever money you put in them to never come back. 3) Decenteralized: avoid centralized coins like BNB, CRO, or XRP, those can easily dump if any of their companies fall. Its whats currently happening with the FTT token.

FTT. Okay I said it.

Mentions:#FTT

Was it FTT?! 😏

Mentions:#FTT

tldr; Binance CEO Changpeng "CZ" Zhao, the founder of the world's largest crypto exchange by trading volume, declared he would sell a pile of FTT, the in-house token created by rival exchange FTX and its founder Sam Bankman-Fried. "We are not against anyone. But we won't support people who lobby against other industry players behind their backs," he tweeted. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#FTT#FTX#DYOR

FTT - Mewtwo. Artificially created and ultimately defeated by the original template (BNB)

Mentions:#FTT#BNB

Buying what? FTT?

Mentions:#FTT

After this FTT shit... Lost all respect

Mentions:#FTT

Yea that’s why I said plot twist. CZ was the main catalyst behind the run on FTX after he dumped all the FTT he had.

Mentions:#FTX#FTT

Buying FTT no doubt

Mentions:#FTT

FTX/Alameda borrowed crypto (BTC and ETH I believe) from Voyager using FTT and SRM as collateral back in late 2021 early 2022. In other words it was a secured loan, if they repay it they get their collateral back. I don’t know how the collateral was valued at the time or whether it was considered to be “over collateralized”, but likely it was. Later on in 2022, when it became obvious that Voyager was going to file bankruptcy, FTX/Alameda freaked out because a court could potentially dig in to *their* finances and order repayment of that loan, which FTX knew would be a net loss for them because they knew the FTT collateral was largely worthless compared to the BTC and ETH they borrowed. FTX then tried to play the savior and buy out Voyager *outside* the bankruptcy process in order to avoid all that scrutiny, but it failed and eventually they were forced to make a bid *inside* the bankruptcy process. As part of that bid, the court *ordered* them to repay that loan and take their collateral back, and the terms of that repayment were that it happen by late September 2022 regardless of whether the buyout deal went through or not. FTX went along with it thinking they’d end up owning Voyager anyway so they’d just get that crypto right back (along with all other Voyager customers assets too), but the deal fell through leaving them holding just their FTT and SRM collateral. Now that FTX/Alameda is itself bankrupt, FTX/Alameda lawyers are in court portraying that loan repayment to Voyager as an unsecured debt, and portraying it as an arbitrary choice FTX made to repay Voyager instead of other creditors (ie claiming it was a “preference” under bankruptcy law that can therefore be reversed by clawbacks). In other words they’re blatantly lying because they’re desperate to get their hands on any assets that still have actual value, like the BTC and ETH, because now the FTT they used as collateral (which they themselves originally claimed had enough value to secure a loan) that was returned to them is worthless, entirely due to their own actions. As icing on the cake, the motion FTX/Alameda lawyers filed in court is full of deluded ranting blaming everyone else, including Voyager, for FTX/Alameda lying to everyone and committing fraud.

He did have a considerable amount of FTT/BTC held in FTX, immediately causing the bankrun that crashed the exchange. These kind of shenanigans are how stablecoins get depegged and I believe it's intentional. It's one thing to have animosity between competitors, another to use market techniques to crash another network.

Mentions:#FTT#BTC#FTX

Another episode of "this maket makes no fucking sense". Similar to FTT pumping after FTX died and Luna pumping after Luna died.

Mentions:#FTT#FTX

FTT 🤷🏻‍♂️

Mentions:#FTT

Adoption is near! Now you can have some crypto fans. Btw do you accept FTT or Lunc?

Mentions:#FTT

That happened to happen on my birthday.. but it wasn’t me. I was in the Bahamas at my buddy sams house. He’s the worlds most generous billionaire. He let me in on a secret. $FTT is guaranteed to hit $60,000 each by EOY 2022. So naturally I trusted him. I mean NasDaily said he’s the world most generous billionaire. How can’t you trust a generous billionaire. Is Nas getting any kind of backlash for promoting Sam? Just curious. I’m on a YouTube break.

Mentions:#FTT

It could be worse. You could be the guy that went all in on LUNA or FTT.

Mentions:#LUNA#FTT

Being honest, the community might have suggested he liquidate it all and invest in something reliable like Terra or FTT

Mentions:#FTT

Ramen for breakfast, lunch and dinner with a refreshing glass of bath tub water isn’t a bad lifestyle. As long as you save enough money to go bullish on the most trustworthy cryptocurrency $FTT.

Mentions:#FTT

FTT = 1% ?

Mentions:#FTT

I too, like to live dangerously *buys FTT*

Mentions:#FTT

He purchased a couple of printers Made in FTT

Mentions:#FTT

This. It's an odd flex isn't it, "Yeah we knew something was going on!" Well why didn't you stop it? "We were gathering evidence...and withdrawing our FTT investm...no wait nevermind."

Mentions:#FTT

FTT, useless token that was bought using customer funds to boost the price. Also used in collateral by alameda to borrow even more money, A ponzi scheme in the litteral sense controlled by criminals.

Mentions:#FTT

FTT, LUNC, CEL are definitely up there. Or down there depending on how you look at it

Mentions:#FTT#LUNC#CEL

I took a loan on the house and split it between Luna, FTT, Doge and Shiba

Mentions:#FTT

Ive been out of the loop but i think FTX will lead the path to regulation so ive loaded up on FTT

Mentions:#FTX#FTT

“I’ll give you a million usdollars in FTT.. I’ll give you $700,000 usd in FTT… I’ll give you $150,000 usd in FTT…” “…I’ll give you a handjob, please don’t talk to the feds.”

Mentions:#FTT

Bought a shit ton of FTT at around $1 Up a good amount but I’d be lying if I don’t think of dumping and buying something safer

Mentions:#FTT

Worry not, it's FTT

Mentions:#FTT

There is 0 concrete evidence that Binance, the entity, is pumping shitcoins or buying pre-listing. One or a few insiders trading on internal information does not mean that the entity is doing it. A Coinbase employee, if you recall, was actually convicted of this, yet I don't see CB getting that much hate? Binance didnt even sell their FTT they got for cheap from FTX funding round which was worth billions due to market conflict months BEFORE FTX collapsed.

Mentions:#FTT#FTX

Ah, BUSD is like FTT token. Ifs not backed by anything.

Mentions:#BUSD#FTT

Happy 2 year cake day! If you’re looking to throw money in a dumpster I think FTT is still around

Mentions:#FTT

FTT would be Sideshow Bob. SBF looks like him and he will be in jail too.

Mentions:#FTT

So 1 mooch is 10-days or 10-million in losses (FTT). Easy enough.

Mentions:#FTT

The prerequisite for a coin giga pumping is wild spread hatred. Sol, FTT, Aptos all of them are not so liked and yet they are outperforming our favourite coins.

Mentions:#FTT

Totally agree, buying more FTT after being balls in would be an example of sink cost fallacy far more than hodling BTC

Mentions:#FTT#BTC

> the firm purchased $10 million worth of FTX Token (FTT) only to sell it for $9.6 million a short while later. Talk about dodging a bullet

Mentions:#FTX#FTT

tldr; The SkyBridge Capital founder said he got "burned by Sam" after putting millions into the FTT token following a big investment by FTX. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Mentions:#FTT#FTX#DYOR

Its founder behind bars would be the most positive thing about FTT

Mentions:#FTT

If you slur saying FTT it sounds like ef-Titty, and everyone Likes boobs!

Mentions:#FTT

*SkyBridge received $45 million of funding from Bankman-Fried after FTX bought a 30% stake in the company, of which Scaramucci invested $10 million in FTT, before eventually selling it at a loss of $9.6 million.* As far as I see it, he is $35.4 million in profits... sponsored by regular retail investors' money

Mentions:#FTT

I was the "hey if i would've bought bitcoin when it first came out" guy, when they at some cases just gave you BTC for joining their portal etc... so for a long time I did not even think about dealing anything with crypto. The whole world seemed too "big" to handle (all the different chains, tokens yada yada..." In start of 2022, I started to see that investing to stocks, startups and other opportunities to retail investors, is not enough for risk management, I went to see what crypto has to offer. Quickly I saw, that there is A LOT of people choosing 2 possibilities: ETH and BTC. In stock market, my portfolio consisted of 20-30 different stocks from different sectors etc. So my thought was - if i'm going to throw some cents into crypto, that is not proper risk management. I spent hours and hours during 3 months to go through different cryptos available, and found myself a list of 10 to try out. Keeping in mind, that there should be chains for different usecases, different princibles etc. I'm in a moment where I'm 66% up past 30 days (todays morning status), whereas BTC is up 33% and ETH ticks at 26%. I watched BTC going down hard while my own portfolio also went down during past year, but the loss was not as big, as some of the investments remained more or less stable. Watched the LUNA crash and FTT fiasco etc. **This is not "i did good, someone else didnt"**, what it is, is a story of risk management. The point of this story is - if anyone of you is a newcomer to this story then: \- Twitter is your enemy, if you allow it to be your enemy \- Youtube is your enemy, if you allow it to be your enemy *Same goes for reddit (although this subreddit has been extremely useful when filtering the information using some of my own principles.* Manage. Your. Risks. Dont put all the fruits in one basket.

Sold the first Lambo for FTT tokens, new wife is missing teeth

Mentions:#FTT

I find a lot of what you say both hilarious and baffling. Firstly, majority of people in crypto are in it to make money. Decentralisation is great and all, but they still need a way to turn crypto back into usable money and therefore a CEX is needed, ie Binance. Secondly, BNB is a CEX coin and anyone trading on Binance gets discounts for using it, gets bonuses for Launchpads, etc etc Thirdly, you mentioned FTX. No different when it comes to FTT and how that was a token based on nothing bar the exchange itself. Fourthly, would you feel this way about people investing in shit coins or meme coins? They don’t add to the crypto space, in fact many have caused it problems due to the rug pulls and bad reputation they generated. They add nothing bar making a joke out of crypto and most of them are centralised in the sense the creators are holding massive bags ready to dump, make their money, and run. Fifthly, BNB has had quite substantial gains over the past couple of years, especially for those who got in early. If it can make someone money, why would they not invest? Sixthly, you mention using DeFi for trading and while yes there are options, for a lot of people a CEX offers more features in one place, easier to use interface, less hassle or risk of messing up when sending coins to wallet, and generally some sort of customer support, albeit often not the best. Plenty more I am sure I could think of but anyway, it is what it is. People will invest in coins because of a picture of a dog, so don’t expect them to care about centralised or decentralised. Not everyone has the same mission in crypto

You do know that FTX might come back, and FTT did have a pump, right?

Mentions:#FTX#FTT

One day it’ll be a nice short like FTT

Mentions:#FTT

Wow sure is a lot of words to tell us how the SEC runs the world. No shit if binance went tits up it would crash like FTT. That's the risk of investing in _any company_ Crypto is a completely unregulated space. The SEC can call all crypto securities and restrict trading if they want. Makes no difference to 7.7billion out of the 8billion on the planet. And even for the US population, they can still trade any crypto they want as long as they have 2 brain cells to rub together. In my opinion crypto does need regulation to stop Muppets from taking bank loans out to buy cumcoin and stop manipulation from influencers etc. But in terms of BNB yes it functions as a security, yes it has a use case, no more can be minted and yes it can be rug pulled if binance gets in trouble, which is no fucking different to corporate stocks if they get in trouble. As a financial institution it should be regulated and maybe the FTT fuck up couldve been avoided by regulation and auditing.

Mentions:#FTT#BNB

I don't advocate that the SEC should control crypto at all. I'm saying if a central party mints a coin and that party holds a majority control over it, it is closer to a security. Binance must approve BSC nodes and likely runs a good amount of them internally. On top of that, BNB price is closely related to the success of binance the exchange. BNB would likely not pass the Howey test should the SEC decide to make moves. In fact, it's debatable that many other L1 coins would not pass the test either and be listed as a security. Why? Because they are centralized. It's no different than if Visa randomly said, "oh, by the way, we're just gunna mint new money that we have total control over." The point of crypto was to avoid that shit, but instead we're just doing it all again and pretending it's decentralized. Bitcoin and ethereum, for example, would not be labeled a security because it was not minted by a central authority and is not connected to any central authority. Their success is not tied to a company's success. If Binance exchange went belly up, so would BNB. Just the same as FTT did when FTX collapsed. And CEL and so forth. BNB and any other L1 that still holds the main keys for code development and has very few nodes may end up categorized as securities by the SEC whenever they decide to regulate. This is not even remotely far-fetched and could 100% happen, but this sub just likes to remain in blissful ignorance.

I own some BNB to get 50% off fees (if this still works IDK). Other than that I use it as a l2 for ethereum, since metamask supports it and I like pancake swap. I think 90% of cryptos are worse than BNB, most coins that claim to be decentralized have a backdoor or checkpoint, for the founders to urge in case of hacks. Also BNB has a marketcap so big because binance its propping it up. Like FTX did with FTT. But binance proved itself after the ftx collapse, if it survivied all the withdrawals then, it should be fine in the future also.

r/cc never learns. BNB has literally the same function as FTT and can/will fail in a similar manner. A sharp selloff where Binance will be forced to sell it in order to cover their asses in some other shenanigans. BNB is neither crypto nor decentralized.

Mentions:#BNB#FTT

member FTT? I member

Mentions:#FTT

yeah kinda like FTT

Mentions:#FTT

You know that it can fall as fast as FTT did? If you made so much money why not taking it out (of the risk to loose it again) and invest it in something less risky?

Mentions:#FTT

Well - some people never learn from FTX and FTT. Ask FTX customers about their bills now. It is the tech that makes the difference - you can trust an unregulated "exchange" doing bank stuff and its profit optimizing expenditures like BNB - or use real crypto by choosing decentralized chains without a single owner controlling the system. It's not hate it is all about facts and history.

Mentions:#FTX#FTT#BNB

Too many similarities between BNB and FTT for me to own BNB. Both had a very unnatural rise.

Mentions:#BNB#FTT

Bitconnect, Luna, FTT

Mentions:#FTT

He used it as a trading platform. And as a holder of FTT chunk he had no trading commissions. That is why FTX was chosen. How else would you trade large sums if not on the exchange? Do you expect him p2p half a mil from retail every time his team sells or buys tokens? To do any operations you need platform with enough liquidity. It means, for a large portfolio he could use only a large exchange as a base of operation. Think.

Mentions:#FTT#FTX

BNB and FTT aren't really comparable.

Mentions:#BNB#FTT

Given that Alameda was their biggest customer (and by a large margin), they probably have a massive bag of FTT.

Mentions:#FTT

CZ said, he is gonna dump FTT. Didn't make sense to announce it before the fact.

Mentions:#FTT

Just like FTT was pumping before ftx blew up. Exchange tokens are such scams

Mentions:#FTT

When you say it was obvious that FTT and LUNC were scams I feel like its captain hindsight speaking.

Mentions:#FTT#LUNC

You know Aptos, FTT and LUNC are gonna dump sooner or later. I wouldn't want to be left holding a bag of these ones

Mentions:#FTT#LUNC

When using BNB to reduce fees, one has to buy it. Creating BNB did Binance cost nothing. When one buys BNB it gives BNB value which can be used by Binance to make additional profit. This overcomes the 25% fee reduction multiple times. Again - I have nothing against Binance itself - I am just not a fan of using CEX coins (in general not just BNB) to bind customers to their services and have them investing in their controlled coins instead of "real" crypto currencies. Just imagine having 47B$ (the current market cap of BNB) unloaded onto decentralized real world projects. Instead of following FTT at some time in the future.

Mentions:#BNB#CEX#FTT

Treasuries with own token. Just another FTX-FTT.

Mentions:#FTX#FTT

That’s fine. But do tell me. By volume and age - what is the largest and longest standing exchange? Before you answer: I don’t use binance. I don’t trust binance. I’m just acknowledging the fact that they have been around longer than almost any other exchange and comparing BNB to FTT is not comparable lol.

Mentions:#BNB#FTT

A lot of scams pump and dumps. As SQUID, SAFEMOON, FTT, LUNA, etc. investors.

I think we are at a very dangerous place. The Howey test used to determine if a token is a security or commodity is looking increasingly outdated. But for the moment, Bitcoin is the only clear commodity as by the Howey test a security has to have all four of: 1. An investment of money 2. In a common enterprise 3. With the expectation of profit 4. To be derived from the efforts of others Number 2 has Bitcoin clearly in commodity status as their is no central enterprise/organization with Bitcoin. Almost all other tokens are at least questionable, even DAO's which authorities have claimed are common enterprises/centralized organizations. Which is where the fear of claiming all tokens as securities comes from and why the SEC having claimed FTT as a security opens the door for coming against all exchange tokens and then all project tokens.

Mentions:#DAO#FTT

Absolutely. The Howey test that they use to determine securities was created back in 1946. It's a wonder it lasted this long. But it is very outdated. That said, careful what you wish for, as the SEC claimed FTT a security in a court letter a few weeks ago. If we say we want change, we know governments, as they can choose to take advantage of that and bend the rules to whatever they want.

Mentions:#FTT