Reddit Posts
What about ETFS for other cryptocurrencies? [SERIOUS]
Noob question: why tokens like USTC, LUNC and FTT are still being traded?
History Lesson: the Podcast that led to the downfall of SBF
FTX's FTT Token Jumps 37% as DoJ Drops Hammer on Binance
A lot of people seem to be falling for the Solana hype. But the top 10 wallets hold 10% of supply and the top 100 own over 30% of it. That's a big risk to take if/when they decide to sell. FTX also still holds a lot to sell to recover funds
The top 5 Aptos wallets account for 10% of supply. The top 50 hold 73% of the supply. The top 100 wallets have for 92% of it. 83% of supply is staked for high APY and it's looking very similar to another FTX-like Ponzi
In another reminder that crypto is just people chasing fast money and hype, two of the most disgraced and dead projects in LUNA and FTT are ranked 1st and 3rd for 1W gains in the top 100 with massive buying
Exactly one year ago, FTX filed for bankruptcy after FTT collapsed. Customer funds gone, their data stolen, FTT deployer rugged, (alleged) huge price manipulation by Justin Sun, "FTX is fine" tweet etc. Bitcoin's price had crashed to $16k. But Bitcoin is now 130% higher
Exchange tokens are TOP daily performers. CRO + 25%, FTT +80%). But why FTT??
FTT Token Surges 90% as SEC Chairman's Remarks Spark Hope for FTX Exchange Reboot
FTX's FTT Token Jumps 90% on Gensler Comments (on Potential FTX Restart)
SEC Open to FTX Relaunch Under New Leadership, FTT Soars 90%
FTT Skyrockets Amid FTX Acquisition Rumors Tied to NYSE's Ex-President – Market Updates Bitcoin News
Who had these winners and losers picked out a few days ago? How do you spot them early?
The FTT speculation has been ridiculous. It pumped 11% leading into the trial, dumped 20% in the middle of it, pumped 32% near the final week, dumped 10% at the penultimate day, pumped 7% in the last day and dumped 9% when SBF found guilty. Then mostly recovered from the final dump to today
Pro-crypto Rep. Emmer is nominated as House Speaker. This same guy was still bullish even when the FTT Ponzi collapsed & actually blamed poor SEC regulation with Gensler complicit in it, plus general bias and has pushed to fire Gensler. With price pumps and looming ETFs, it's very interesting times
Be careful what you read on this sub and any others pertaining to money. Not only are most upvoted/best and even what shows up is compromised.
We broke the story that brought down Sam Bankman-Fried’s crypto empire. Soon, we’ll be covering his trial, gavel to gavel. Ask us anything.
5 Hype coins from last bullrun that are now practically buried and dead.
Is there any point holding exchange tokens long term?
FTX Chronicles: 6 Bombshell Revelations That’ll Leave You Stunned
Back in time: Impactful crypto events of the past 2 years
The current market situation with BNB and the rest of the market is eerily similar to when Alameda was dumping their bags to try and secure FTT Value.
A timeline and look back at 10+ months of Binance FUD following the collapse of FTX.
Top 15 Bitcoin Mining Companies in the World
Relive the crypto crash of '22 here. Events, mistakes, achievements. A lesson to remember, never listen to crypto analysts as nobody knows anything.
FTT can possibly get valued at zero. Once again regulators are punished for missing flywheel tokens and so is retail.
FTT increases by 15% after the announcement of the FTX reactivation plan
FTX Bankruptcy Plans Do Not Include FTT Token Holders
FTT Token Surges 17% After FTX Confirms Rumors Of Relaunch
FTX Crypto Exchange Plans Restart for International Customers, FTT Token Rises 10%
FTX Confirms Plan To Restart FTX.COM Exchange in Plan Filing: FILING
If your portfolio is not down more than 50%, and you didn't invest in FTT, LUNA, CRO, SOL, etc..., or some overpriced NFT, and you are still holding strong, CONGRATULATIONS! You are still doing far better than Kevin O'leary, Mark Cuban, Tom Brady, and so many of the big names in crypto.
If your portfolio is not down more than 50%, and you didn't invest in FTT, LUNA, CRO, SOL, etc..., or some overpriced NFT, and you are still holding strong, CONGRATULATIONS! You are still doing far better than Kevin O'leary, Mark Cuban, Tom Brady, and so many of the big names in crypto.
There’s no reason why FTX2.0 would use the FTT token
FTT Token Surges 70% as FTX Exchange Gears Up for Relaunch
FTX 'Reboot' Talks Begin and Send FTT Token Soaring 15%
FTX 'Reboot' Talks Begin and Send FTT Token Soaring 15%
So Binance (probably) is the fraudschange which simple mathematics always suggested they must be. How do I stay liquid without exposing myself to being a “depositor who lost everything” if/when the BNBomb goes off just like the FTTheft nuke? Globalist fraudsters hate this one trick-
There has been some pretty extensive washtrading at BNB to keep the price afloat during the past dips. BNB is acting just as FTT sometimes.
Is Thether to Binance, what FTT was to FTX/Alameda?
Binance is under attack - get your funds off of Binance
Binance secure asset fund for users (SAFU) is roughly 50% BNB per the Wall Street Journal
The Binance lawsuit alleges they may have been doing similar activities with BUSD, as FTX did with FTT. Billions in customer funds were definitely commingled but it's very unclear whether they were outright siphoned/stolen
The bear market is doing an adequate job cleansing the crypto space of bad projects and actors. Although it is a painful experience now, this cleansing is great for crypto's future
There is a scary alternate reality when CZ and SBF are BFFs and the FTX/Alameda Ponzi is still going strong. Especially considering Tether dodging allegations left and right yet being wildly profitable makes it extremely likely.
Official FTX PR claims 195m FTT, 1938 ETH & other tokens remain in single Fireblocks wallet, moved there illegally by Bahamas Commission
Official FTX PR claims 195m FTT, 1938 ETH & other tokens remain in single Fireblocks wallet, moved there illegally by Bahamas Commission
The Degeneracy of Crypto Gamblers is insane. When a bank fails the stock price drops - 99%+ in a year. But FTT an exchange token for a Fraudulent Exchange in which the CEO is facing 12 criminal charges including defrauding Customers is only down 96% over the year.
How should we all feel about FTX re-launch? Is it the resilience of the Tech product behind exchange or pure crony capitalism as influencers hold big FTT bags?
Advice on exchanging crypto for profit
Do you guys really believe that things for FTX are looking up?
FTT Hikes 95% After FTX Hints At Restarting Exchange Using Creditor Funds
[CoinDesk] Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges
FTT Up 70% as FTX Mulls a Q2 Reopening - Tokenist
FTT Token rockets 100% as crypto exchange FTX considers relaunch
Crypto Exchange FTX Could Reopen, Its Attorney Says; Firm’s FTT Token Surges
The strangest thing about FTX is the fact that while they did a Ponzi, stole customer funds and traded against them, they never actually rigged the trading system itself to cheat customers, such that even Alameda actually accumulated Billions in trading losses.
He lost 2 billion on FTX: Largest creditor's balance revealed on the platform
He lost 2 billion on FTX: Largest creditor's balance revealed on the platform
You can now check the value in USD of your lost FTX funds using your customer code
Over $86,000,000 worth of Safemoon was burned yesterday. LP "insurance" means nothing, even if it exists.
I hope we all realise that Proof of Reserves would not have saved us, even with FTX
Binance traded against customers with approximately 300 "house" accounts - CFTC
FTX Leaderboard Revealed: Discover How Much FTX Belongs to Creditors
Moons allowed me to fix my wife's computer
Again, we see the hypocrisy Central Banks and the fiat system in their bashing of crypto. To co-mingle funds is bad but not when fiat does it
[SERIOUS] The Banks Are Just As Suspect As Crypto Exchanges During The FTX Collapse…They Are Just Sanctioned By The Fed To Do It
Here's why most alt coins are likely to survive this bear market, and why it's incorrect to compare this more established alt coin market to early alt coin markets.
Diversify your portfolio to reduce your risk profile!
Silvergate Bank failure and FTX failure and now SVB failure are all related and no one is coming to the rescue
Just buying your Crypto and then “forgetting“ about it for those inevitable gains during the next bull is NOT the best strategy, anymore.
Selling if needed is completely fine, in fact I would recommend selling your investments once you think it has fundamentally lost its value.
What is a project that you have given up on throughout this bear market?
Former FTX Executive Generated Millions for His Charity Via FTT Insider Trading: Report
Do you think that Solana will break it's previous ATH in the next bull market?
Alameda wallets resurrect to transfer FTT in the millions
Can Shiba-Inu change their public image and be considered a legit layer two for Ethereum?
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
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.
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
SBF's FTT Coin Surging as New CEO Predicts Resurrection of Bankrupt Crypto Exchange FTX
FTX's Native Token FTT Surges As CEO John Ray Eyes Exchange's Restart
FTX's $5.5 Billion in Alleged 'Liquid Assets' Includes Locked SOL Cache and Illiquid FTT Holdings
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?
The inevitable dump has started but on a day economic outlook seemed brighter! One day, we will understand the markets!
Mentions
Bullish on FTT, LUNA & Safemoon 🤪😂
That is actually hilarious, returning BTC with Eth lol At least they didn't return it with LUNA or FTT tokens
The grift lives on! It's FTT all over again
I'm surprised FTT are still worth about $ 1.50 each. I would have though it would have followed in the steps of luna
I heard SBF offered Trump 1 billion FTT tokens when Trump asked him for 1 billion USD for a pardon
Free money, just as FTT was for FTX, until it wasn't
tldr; Sam Bankman-Fried (SBF), the former CEO of FTX, broke his two-year silence on X (formerly Twitter) with a ten-part thread discussing layoffs and business efficiency. Despite being incarcerated, his posts sparked debate and briefly drove the price of FTT, the token linked to the defunct FTX exchange, above $2 before it settled lower. SBF’s comments aligned with recent government downsizing rhetoric and raised speculation about his motives, including potential clemency efforts. The FTT token's price surge was short-lived, reflecting ongoing market volatility. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Risk has a dollar amount. Didn’t CZ pay like 4 billy in fines? I sense the risk was lower absorbing FTX. I read the FTX people were made whole. That could be wrong. But if FTT still had some value and the customers were made whole by the FTX holdings without FTT in the equation, I would think in hindsight, he would have just taken them. Look, it is all just a thought experiment, there is no auditing alternate timelines. Just how I see it.
I dont know the criteria they use. There was a time i used to get $SHIB, $XRP and $FTT Just coz i had bought them at some point, though i was not holding them at the time. Its common. I think its a way of incentising you to buy more
everyone's gonna buy FTT and make FTX great again
You’re right in that both Luna and FTX exacerbated the depths of the bear but I disagree they were the cause: Luna– The crypto market was already in decline due to rising interest rates and tightening monetary policy, which reduced speculative investment. The broader sell-off put pressure on UST’s peg, and once it started to depeg, panic selling accelerated its collapse. Terra Luna didn’t crash the market; it was already weak, and Luna’s failure just made things worse. By the time FTX collapsed, Bitcoin and other major cryptocurrencies had already been in a bear market for nearly a year. FTX’s fraud went unnoticed during the bull run because there was plenty of liquidity, but as the market declined, cracks started to show. The final blow came when Binance announced they were selling FTT tokens, triggering a bank run. FTX’s collapse deepened the downturn, but it wasn’t the root cause—just another casualty of the broader crypto crash. Both events were symptoms of an already struggling market. The real causes of the crypto crash were macroeconomic factors like interest rate hikes, declining liquidity, and the bursting of the speculative bubble from the 2020-2021 bull run. To be clear, your position is the bull run would have continued through 2022 (and possibly lasted forever) had it not been for FTX and Luna?
What if you had FTT. 😣
FTT is the top gainer in the 100 list. What a world.
I think this is a small setback, but hardly set in stone. Because what I've been seeing is that Ripple as a company is more important than XRP itself. Whoever is running Ripple they've survived things that would've killed any other project. If you take a step up back, Gensler going after Ripple and XRP was turning what should've been shooting fish in a barrel (because FTT, TRX, Tether, and Luna wouldn't have survived), and instead stuck the shotgun barrel in his own mouth. Ripple was fully lawyered up, while I was fully expecting them to drop XRP and run for some run for the hills like what we saw with everything other crypto project that failed.
Some of sour comments here just show naive retail still think this crypto ponzi is about pumping bags with "fundamentals". Nothing to with whales trying to rekt retails everytime. The more people think shitcoins like fartcoin are to be avoided, the more market makers will end up surprising and upsetting retail. That's why so far in this cycle, only selected coins like PEPE, PNUT, HBAR, SUI and XRP have performed much better than rest, and they happened to be coins most retails haven't baghold from the bottoms. Imagine the smell if dead coins like FTT are the ones blasting up next as part of exit liquidity rally.
FTT's peak market cap was about $8 billion. Its highest valuation was about $32 billion. MSTR has a current market cap of almost $100b, and The MicroStrategy enterprise value sits at about the same. They have 402,100 BTC, valued at around $40 billion. Yeah... a MSTR melt down would be wild.
The (sometimes intentional) confusion of the FTX crash with „Bitcoin having failed“ drove me nuts. It made me really lose a lot of trust in journalism, because so much was inaccurate reporting. There were a lot of people that read the articles and thought that SBF was kind of a „main Bitcoin guy“. The opposite was true: * SBF came out against Bitcoin and praised other crypto (specifically Solana). Quote „Bitcoin doesn’t have a future as a payments network.“ * FTX sold Bitcoin of client funds that weren‘t theirs to sell in order to stabilize the price of their platforms shitcoin FTT. So they fraudulently suppressed the price of Bitcoin in 2021 and 2022. I rarely saw any reporting on it, but instead mindless bashing of Bitcoin as a failed experiment and sometimes even a „fraud by association“. When I explained that to people l, they looked at me like I was making stuff up to cope and I had to basically do the job that reporters weren’t able to do, to show them what was actually going on. It also shows how you‘re not „lucky“ for holding Bitcoin from the lows of 2022, but that you needed to put in work to understand the different between FTX/shitcoins and Bitcoin. People project their disinterest onto us and believe that we simply held Bitcoin out of some kind of delusion (or didn’t even read the articles against Bitcoin), when we held because we were actually making an informed decision despite all the crap-journalism. It doesn’t require luck, but brains.
I actually never met CZ. He was in Dubai during the time I was writing the book and generally didn't come to the US. (SBF pointed that out in a tweet that seems to have led CZ to dump his FTT investment and precipitated FTX's downfall!)
Nah I bought loads of FTT at $2 cos I was drunk as fuck and bored in a club, turned out to be one of my best buys of the last cycle
It is when you use real assets (BTC, fiat) as collateral to give value to your token and then you exchange those tokens for real assets (BTC, fiat). Some examples are how tether used this approach to get leverage and how FTT used it to embezzle users' funds
tldr; FTX has filed a lawsuit against Binance and its former chief Changpeng Zhao to recover $1.8 billion, claiming wrongful repurchase of shares by Sam Bankman-Fried in 2021. FTX alleges the deal was fraudulent due to its insolvency at the time. The lawsuit also accuses Zhao of contributing to FTX's collapse through misleading tweets, which led to a massive withdrawal of funds and a significant drop in FTT token value. The complaint highlights a 'cold war' between the two parties, exacerbated by regulatory scrutiny and public statements. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
tldr; Binance CEO Changpeng "CZ" Zhao said his exchange will liquidate its entire FTT holdings after a leaked balance sheet from Alameda Research suggested the company held a significant amount of FTX Token (FTT). Alameda CEO Caroline Ellison offered to buy Binance’s FTT for $22 per share. FTX users began to withdraw their funds from the exchange for fear it would go bust. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
This made me sell all my portfolio and buy FTT
Binance purchased equity in FTX in 2019, then when in 2021 SBF/FTX bought back Binance's stake, Binance received FTT tokens and stablecoins. So FTT was included as a "sweetener" in the transaction, likely in good faith as mentioned, and probably to on paper fund the re-acquisition. As I said SBF printed the FTX to pay for it, and CZ received leverage over the FTT market. SBF probably assumed he would eventually be able to back these indirect market loans with eventual adequate monetisation and "maturity" of the FTX ecoystem.
I am 99% sure CZ bought that $500 million worth of FTT using BNB printed out of thin air, there's simply no reason to buy that much of another worthless CEX coin lol
What's even funnier is SBF probs thought it was a win-win paying off or securing some of CZs investment with FTT, thinking he had the upper hand being able to print it, I honestly believe he didn't even realise he gave CZ leverage over his company given an 'x' event like idk a liquidity crisis lol
That's not what happened. This tweet had nothing to do with CZ's decision to not acquire FTX, nor is it credited for this. It did cause conflict between the two and may have encouraged CZ with publicly stating that he was cashing in FTX crpto FTT causing the liquidity crisis. A crisis due to FTX's massive fraud. The decision to acquire or not acquire FTX came after this ciris occurred. CZ decided against it in due diligence showing that FTX was a legal shit show.
In addition to what you posted, CZ also had ~$500 million FTT (FTX's exchange token) from his initial investment in the exchange, and shortly after this tweet CZ tweeted out that they were going to be liquidating their FTT holdings, which raised a lot of eye brows and additional scrutiny towards FTX. Throwing shade at a dude with a bigger business, more money, and holding half a billion dollars of your ponzi coin has to be one of the most brain dead moves in crypto history... which is saying a lot.
The real reason that caused the FTX crash: Alameda research told Cz publicly on Twitter that they were willing to buy his FTT coin holdings for $22 a piece. People speculated that if the price goes below $22 a coin, then the Alameda Research investment firm will go bankrupt since a majority of their holdings were FTT Coins. That was enough to scare everyone to sell their coins and the price went way below the $22. https://cointelegraph.com/news/binance-ceo-not-interested-in-alameda-s-offer-to-buy-up-its-ftt-holdings
A week after this tweet, Zhao tweeted that Binance would sell its holdings of FTX’s token, FTT — $530 millions’ worth. Then people got fud: $6 billion worth of assets were withdrawn from FTX in the space of 72 hours FATALITY
FTX is a crypto exchange and was founded by Sam Bankman Fried - Short story is it became one of the largest financial scandals in modern history. FTX became one biggest in the industry and even the world and they did a ton of partnerships along with SBFs trading firm Alameda Research. They got all kinds of people on board - big partners, celebrities, venture capital funding. SBF also "donated" a lot of money to politicians and global causes. 2 yeas ago people started suspecting somethingn was off with FTX because Alamedas balance sheet leaked and showed that they were relying on their token FTT. Binance announced it would sell its FTT holdings and they were early investors in FTX. This then created a bank run on FTX and because of all withdrawals FTX was insolvent which proved that they couldnt meet user withdrawals. Thats when shit hit the fan and all the drama started. FTX misused billions of dollars of customer funds and transferred them to Alameda to cover trading losses. They bought yachts and spent a ton of money on weird sex parties or whatever. FTX and Alameda filed for bankruptcy in November 2022. Both SBF and his ex babe Caroline Ellison were charged with a lot of crimes and are now arrested. Actually Im not fully sure about Caroline but if shes not in jail she most likely will be even though she ratted on SBF
My favourite thing is FTT out performing BTC
Same people who keep pouring money into FTT even knowing that the token has no utility out of FTX.
FTX return me my 25 FTT!!! yeah they are worthless
And you don't think bankruptcy and fractional reserve crypto banking go HAND IN HAND. Oh geez... Wise up. Get your head out of the sand.. Nov. 6 – In response to the article, Changpeng Zhao, the CEO of rival crypto exchange Binance, often referred to as "CZ," said he would sell all of the company's holdings in FTT, which amount to $580 million worth of the token. The major exit from a crypto heavyweight triggered a wider selloff, akin to a bank run, placing immense pressure on FTX to meet the sudden demand for customer withdrawals. Due to a lack of funds, FTX halted customer withdrawals altogether. https://abcnews.go.com/Business/timeline-cryptocurrency-exchange-ftxs-historic-collapse/story?id=93337035 If you don't have the liquid reserves, to handle a bank run. The bank or exchange goes bye bye and bankrupt.. On March 10, 2023, Silicon Valley Bank failed after a bank run, marking the third-largest bank failure in United States history and the largest since the 2007–2008 financial crisis. It was one of three bank failures, along with Silvergate Bank and Signature Bank, in March 2023 in the United States
Many people made a killing off of FTT, LUNA, SafeMoon. As long as you don't consider SOL a long term "investment", you should be fine. Know when to dump.
So this is the reason why FTT is up 11% in the past 24 hours? People are so crazy... FTX probably won't be back and even if does, it won't have the customers trust to put money back on it. This is just a proof on how insane this market is.
One must be out of his mind to buy FTT
tldr; FTX Token (FTT), the native cryptocurrency of the bankrupt exchange FTX, surged over 70% to multimonth highs on September 29, reaching $2.70. This spike followed rumors of impending bankruptcy distributions to creditors and customers. However, the official Chapter 11 bankruptcy plan has not yet been approved, with a court hearing scheduled for October 7. If approved, distributions to creditors under $50,000 could begin by the end of 2024, while larger claims may be settled in 2025. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
At least FTT and alameda tokens mooned, WLD not so.
I remember the CT bros tweets about buying $FTT. I'm doing it because I trust Sam! I'm just thinking I trust cold storage, and that's about it.
What happened with FTT, USTC, LUNA, LUNC? When the pump Btc likes to prep for a big red candle...
Also caused a bank run on FTX, after dumping its FTT it received as part of the initial investment Binance made in FTX
I knew it was a scam, or at a bare minimum fiduciary irresponsibility when I saw the fortune cookies and the stadium naming crap. So glad I never used such a piece of shit crypto exchange. Fucking FTT tokens what a 🤡 show
Of course, they didn't had the crypto reserves in wallets, just FTT infinite token.
It's shiba ino bro. Almost all memecoin are basically centralised coin. No different from FTT or even amazon giftcard
Welcome back, you've missed a lot, but rest assured the the biggest and safest coins these days are onecoin, FTT, bitconnect, terra luna, and safemoon. I would put the majority of your investments into these.
I'm just getting into Crypto and I've starting building my portfolio. I'm leaning towards ETC, ONE, LUNA, FTT, WLD. Any crypto veterans out there willing to give me their thoughts?
Yep....got lucky with FTT because exchange gave me back money when went broke. I was all in VET in 2018 (check posts).....so imagine how long it takes to go from all in BTC to ETH to VET....years bro. Been here way longer than you were born. Reddit was not a thing for crypto when I was involved back in the day.
No you didn't. If you have been in crypto since 2015, you're not buying FTT, XRP and ADA in 2022. After 7 years in crypto, you should have known that XRP is pretty much a scam, FTT is shady as shit, and Hoskinson grifted his way into ETH and grifted his way in projects with Dan Larimer. If you have been in crypto since 2015, you don't touch toxic shit like this that noobs fall for. > Only a bear on BTC....all in on alt coins, especially ADA, XRP, and FTT. https://np.reddit.com/r/CryptoCurrency/comments/u6rcq4/daily_discussion_april_19_2022_gmt0/i5a3kwg/
Worst coin ever is quite a statement especially with cryptos like bitconnect, Onecoin, FTT and Terra Luna…all of which scammed their holders. Now I am not one to defend Worldcoin and I would encourage any criticism of that crypto and Sam Altman. But as far as we know, Worldcoin hasn’t scammed anybody yet. It does scan people’s eyeballs for crypto which is weird so maybe collecting this data is a scam. But it hasn’t been a rugpull just yet. So I can’t put it in the same level as the cryptos mentioned above. But I do agree that Worldcoin is a worthless crypto with little to no utility (but the same could be said about most cryptos).
tldr; The FTX scandal, triggered by risky financial practices and the misuse of customer funds by its founder Sam Bankman-Fried, led to the collapse of the once second-largest cryptocurrency exchange. The crisis unfolded after a tweet from Binance's CEO, revealing plans to liquidate FTT tokens, causing FTX's market value to plummet. Legal proceedings found Bankman-Fried guilty of fraud and embezzlement, resulting in a 25-year prison sentence. Efforts to recover and distribute assets to victims are ongoing, with a U.S. District Court ordering FTX and Alameda Research to pay $12.7 billion in restitution and disgorgement. The scandal has prompted increased regulatory scrutiny and efforts to rebuild trust in the cryptocurrency industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Pay the peasants in FTT and LUNA... ~ Dubai court /S
The post says TON is not on any major exchange.... yet it is on the largest exchange in the world. Also, FTT was the FTX exchange coin that they manipulated. Telegram doesn't have an exchange. No idea the connection.
It's like a cop giving a guy a parking ticket and patting themselves on the back while a woman is being stabbed in the background. Imagine if Gary was active against BNB, FTT, Terra/Luna, Tron, Tether, Celsius, and the exchanges that listed scams like squid games token. Yes, XRP behaved like a security, but I've never heard of them shuffling billions of dollars into the Emirates and making deals with North Korea.
#1 Never, ever, sell at ATL prices. Never. Unless, there is 100% bakrupcy level urgency, like with Luna, or FTT. But this was not one of those moments. Now, you became the opposite of exit liquidity — someoneone's cheap entry asset to buy in cheap. Many people have been waiting for this. Make this an expensive lesson.
> Because it suits some narrative your comments are a fictional narrative. Of course, you're always making money and outperforming BTC. True ethos of a shitcoin investor. > Really...I was a btc maxi from 2014 to 2017....then went full eth maxi in 2018. Still here and still an eth maxi. - June 2024 https://np.reddit.com/r/CryptoCurrency/comments/1dut3vs/daily_crypto_discussion_july_4_2024_gmt0/lbljeg2/ > Easy.....XRP and ADA. https://np.reddit.com/r/CryptoCurrency/comments/x6vdd3/daily_general_discussion_september_6_2022_gmt0/ina6vnf/ - September 2022 > FTT... fast track to usa regulatory approval. https://np.reddit.com/r/CryptoCurrency/comments/t31jcu/daily_discussion_february_28_2022_gmt0/hyq3yo4/ - February 2022 > After 7 years, I have whittled down (aka consolidated) my coins to the final 4: ETH, XRP, FTT, and LINK. Got rid of BTC back in May...VET back in August.....LTC back in 2018.... Ton of shitcoins in early 2022...Who will survive? - February 2022 https://np.reddit.com/r/CryptoCurrency/comments/sz2hre/daily_discussion_february_23_2022_gmt0/hy2f9hx/?context=3
> Do from 2016 and see the results (ETH would crush BTC)....all this cherry picking dates is garbage When you pick a coin that blew up big when in time when it is a much smaller marketcap, of course it outperforms. This is akin to the BTC cult always picking like 2009/10 and saying BTC is best performing asset for the last 10 years, last 15 years, etc. > all this cherry picking dates is garbage You claim I cherry pick datesb but people like you who invest in ALTs are always making up fictional investments and cherry picking winners from the past saying I picked all the winners and I out performed BTC by XXX. **Lies, Damned Lies, and Shitcoiners making up stories of making money in crypto.** > Really...I was a btc maxi from 2014 to 2017....then went full eth maxi in 2018. Still here and still an eth maxi. - June 2024 https://np.reddit.com/r/CryptoCurrency/comments/1dut3vs/daily_crypto_discussion_july_4_2024_gmt0/lbljeg2/ > After 7 years, I have whittled down (aka consolidated) my coins to the final 4: ETH, XRP, FTT, and LINK. Got rid of BTC back in May...VET back in August.....LTC back in 2018.... Ton of shitcoins in early 2022...Who will survive? - February 2022 https://np.reddit.com/r/CryptoCurrency/comments/sz2hre/daily_discussion_february_23_2022_gmt0/hy2f9hx/?context=3
Yea! People should invest in real coins like Luna or FTT, projects with solid teams behind them, contracts, White papers, and it's gone.
Like when Caroline Ellison wanted to buy all FTT from CZ to "minimize the impact on the market". Shortly before FTT and then FTX collapsed.
Sounds like Caroline offering to buy FTT from Binance lol
It's always a good and amazing investment until the exchange gets into deep shit. Just look at FTT, FTX token.
>no guarantees of redeem-ability Debt has no guarantees either. Even explicit guarantees can be broken. And that's when people ask the courts step in. It's why bonds fluctuate in market price - risk of default. And it's the same reason that Bitcoin fluctuates in price. But I hope Tether prints more stablecoins to buy more Bitcoin so the value goes up for you!! Those people who used their FTT to buy Bitcoin, they passed their bad debt on to you! And, calling me willfully stupid and telling me that your facts make me angry really shows me how you can have a conversation without emotions... Buy more bitcoin. Never sell. HODL. Get rich!!!
>Jesus christ, dude. It's easy to find the info. FTX (SBF's personal piggy bank) owned ~57m SOL. Lord knows how much FTT was used to purchase SOL. It's about 15-20% of the supply in 2022). Probably closer to 20% if you include Alameda. That's a huge red flag considering how much the founders/SOL pocketed. They were early investors, so of course, they were in the good graces of SOL. Manipulation would have been one call away, and I would bet it happened numerous times. Proof on chain homie. Everyone can read the funding rounds, that's in the past. Show me he still controls that SOL **now**, or else it's moot. Also then show how he can use that to control Solana.
Jesus christ, dude. It's easy to find the info. FTX (SBF's personal piggy bank) owned ~57m SOL. Lord knows how much FTT was used to purchase SOL. It's about 15-20% of the supply in 2022). Probably closer to 20% if you include Alameda. That's a huge red flag considering how much the founders/SOL pocketed. They were early investors, so of course, they were in the good graces of SOL. Manipulation would have been one call away, and I would bet it happened numerous times. There are hundreds of reasons why it sucks and all you have to do is look. If you can't look it up yourself and understand it, you are in denial and will get burned.
They pay in FTT token I guess
I think it's fairly obvious to anyone who has been around for at least one cycle: LUNC CEL FTT
Phew, for a moment I thought my FTT tokens was in danger
What utility does it have? Does it have any other substantial use, appart from inflating their balance sheet? Do you remmember what happened to FTT, native token of FTX? Do you need a reminder?
"I was set up to be the fall guy." People forget the last 2 acts he did was use the last bit of customer money he had to prop up FTT so Alameda wouldn't get margin called and bribe bahamian officials.
Sell me all your FTT for $0.00 then fuck off!
how much will i get for my 25 FTT tokens
Who are FTX creditors going to sell millions with of FTT token?
It’s 100% + 18% interest in fiat based on the amount at the time they declared bankruptcy. Also, because FTX was mostly holding Solana and FTT tokens at the time of collapse. Guess which coin is about to get dumped to the tune of 9 billion dollars? Look the f out solana holders…
Why would FTT holders even get anything? They bet, they lost.
tldr; FTX's bankruptcy estate plans to compensate creditors and customers with $14.5 to $16.3 billion, excluding FTT token holders whose claims will be canceled. However, those with NFTs on the FTX platform will receive their assets back. Around 98% of creditors with claims under $50,000 will get 118% of what they're owed if the plan is approved. The plan follows FTX's collapse in 2022, which led to its founder, Sam Bankman-Fried, receiving a 25-year prison sentence for stealing $8 billion among other charges. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I wonder if I’ll get my $500 usd back I made an account and transferred $500 less than 7 days before they shut down LMAO On the bright side, made $6k shorting FTT at the same time
I suspect that if Larry David tried to claim, under penalty of perjury, that he was not using his fame to endorse the idea that FTX was safe, he'd be destroyed by the evidence. For example, that [he was paid in FTT tokens](https://www.independent.co.uk/arts-entertainment/tv/news/larry-david-crypto-super-bowl-advert-b2489141.html). The idea that David *wasn't* endorsing FTX in the ad, is outright sophistry.
Exactly this. NO one knew. SBF and a few cronies were the only ones. This is laid out in the book Going Infinite. I was researching FTX as a potential place to put some crypto. Tons of people were. No one knew what was happening on the backend. That’s *specifically* why SBF is in prison: he kept it secret that he was turning USD > FTT token and then shuttling the FTT to Alameda and re-exchanging it for USD. He kept that secret from everyone. Don’t know what the feds are trying to do here.
Not too sure about that. Alto stablecoins are always doomed to a death loop, especially one linked to a stablecoins based high interest platform, and FTX probably couldn't have gotten it's overnight success without it's political dealings and other connections, even then only FTT kept them afloat. It wasn't that special of an exchange otherwise. I'm not too sure either of them have it in them to run a business long term.
Might as well buy FTT and LUNC too
I feel so fucking bad for you SBF. I buy FTT just to spite the gross legal system that fucked you over so hard.
SBF issued unregistered securities (FTT, SRM), engaged in insider trading to inflate their value so as to increase his potential loan collateral. He then took our customer deposits without their knowledge or consent, which his hedge fund gambled and lost on various investments. Once FTXs "assets" were exposed to be merely magic money FTT that he himself created, it started a bank run. Since they gambled away customer funds, their assets werent backed and FTX couldn't pay them out. That man deserves jail. I forgot what exactly Do Kwon did, but LUNA had more to it than the algorithm induced death spiral.
FTX is never starting up again and if it did it would have a new token and not FTT
FTT lol cmon you know the answer to these questions
Put $100 in FTT and wait a week
1-'proof of stake' is too close to fiat. 2- there was a sizeable premine that turnes a lot of people off. 3- the monetary policy has been changed quite often. 4- code in not law. go look into ethereum classic for more details. and 5- most of the scams run on eth; FTT, Worldcoin, HEX, etc etc.
I got a bunch of FTT tokens in FTX that I'm just ignoring until I retire
I wander if he has big stash of FTT hidden somewhere
Doesn't help those of us who held FTT token and got fucked :(
Im betting FTT will be pumping over the next few days as SBF's trial takes place