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Reddit Posts

r/BitcoinSee Post

Don't Get Rekt in This Bull Run: Remember the 2017 "Earn" Scams?

r/BitcoinSee Post

Don't Get Rekt in This Bull Run: Remember the 2017 "Earn" Scams?

r/BitcoinSee Post

Why BTC will be sideways or downward for months..

r/BitcoinSee Post

in fact it was not a sell the news event

r/CryptoCurrencySee Post

FTX Is Unloading Crypto to Raise Cash and Pay Back Customers

r/CryptoCurrencySee Post

FTX Becomes Major Bitcoin Shorter Amid Efforts to Recover Customer Funds

r/CryptoCurrencySee Post

Repayments Incoming? Movement on Mt. Gox, Celsius. Nothing from FTX

r/BitcoinSee Post

ELI5: GBTC and dumping from FTX and other bankruptcies

r/CryptoMarketsSee Post

FTX Bankruptcy Probe Is Now Being Pushed By Judge

r/BitcoinSee Post

Time to Long BTC?

r/BitcoinSee Post

How much more will Grayscale dump?

r/BitcoinSee Post

FTX Sells Entire $1B GBTC Shares, Drops Grayscale Lawsuit

r/SatoshiStreetBetsSee Post

FTX sold about $1B worth of GBTC ETFs to pay creditors

r/CryptoMarketsSee Post

FTX Allegedly Behind Nearly $1 Billion GBTC Outflows, Contributing to Bitcoin Price Decline - Daily Coin Post

r/BitcoinSee Post

Global interest in Bitcoin at December 2020 level.. What shall come next?

r/BitcoinSee Post

Buying the dip. Personal opinion

r/CryptoCurrencySee Post

FTX Sold About $1B of Grayscale's Bitcoin ETF, Explaining Much of Outflow: Sources

r/BitcoinSee Post

FTX unloads GBTC

r/BitcoinSee Post

FTX unloads GBTC

r/BitcoinSee Post

Daily chart, BTC buy signal. Last time this printed was 9 Nov, 2022 – FTX crash.

r/CryptoMarketsSee Post

FTX Sells Nearly $1 Billion in GBTC Shares

r/CryptoMarketsSee Post

FTX sold nearly $1 billion of Grayscale spot bitcoin ETF shares: report

r/CryptoCurrencySee Post

This market gets very emotional into extremism. With extremism in anti-crypto narratives during bear markets, and vice versa during bull markets. But don't blink, there is potentially a brief period of objectivity and balanced narrative in between the extremism.

r/BitcoinSee Post

FTX Sold About $1B of Grayscale's Bitcoin ETF, Explaining Much of Outflow: Sources

r/CryptoCurrencySee Post

FTX Community Ponders Sam Trabucco's Disappearance

r/BitcoinSee Post

I’ve been studying hard wallets and wrote what I have learned. I would appreciate corrections if I was inaccurate, pls.

r/CryptoMarketsSee Post

Dismissal Looms for FTX’s Clawback Lawsuit Against Sam Bankman-Fried’s Parents

r/CryptoCurrencySee Post

Blockchain Quiz - Intermediate/Advanced Level

r/BitcoinSee Post

After FTX collapsed, scornful critics widely ridiculed Caroline Ellison's approach to stop losses: 'I just don't don't think they're an effective risk management tool,' she infamously told an audience during FTX's heyday. But did she have a point?

r/CryptoCurrencySee Post

Celsius Ethereum Strategy Unveiled: $125M ETH Shift to Repay Creditors Amidst FTX and Alameda Sell-Off

r/BitcoinSee Post

Looks like grayscale is this cycle’s FTX

r/BitcoinSee Post

FTX was permitted to sell assets back in Sept, "$560m" in BTC, is that enough to drop the price now?

r/BitcoinSee Post

ETF, paper Bitcoins and how will it end?

r/BitcoinSee Post

What happens if bitcoin ETF gets hacked ? Who is responsible for the financial loss ?

r/BitcoinSee Post

Bitcoin ETF is a joke.

r/CryptoCurrencySee Post

Soon people will start again to tell you not to FOMO, the same they did at 20k,24k,30k,35k,40k...

r/BitcoinSee Post

All the news of the ETF approval is nice and all, but the point still stands… buy actual Bitcoin

r/CryptoCurrencySee Post

SEC approves rule changes that pave the way for bitcoin ETFs

r/BitcoinSee Post

Gary Gensler is a bitcoin maxi, change my mind.

r/CryptoCurrencySee Post

Me, waiting for SEC announcement about ETFs…to buy that juicy dip in ALT coins.

r/BitcoinSee Post

The Orange Coin - Bitcoin For Dummies

r/CryptoCurrencySee Post

1 popular DEX is becoming more like a centralized exchange but worst actually

r/CryptoCurrencySee Post

ICP And the Intrinsic Negative Hype

r/CryptoCurrencySee Post

How Justin Sun used his TRX and BTT coins to exploit and Rugpull and already Rugpulled and desperate FTX customers.

r/BitcoinSee Post

ETF approval vs Epsien island attendees

r/CryptoMarketsSee Post

FTX Bankruptcy Battle Could Last Years, Expert Says

r/BitcoinSee Post

Are We on the Cusp of a 6th Green Monthly Candle for BTC?

r/CryptoCurrencySee Post

Anonymous poll: If you had losses from the 2022 bear market, how much have things improved in 2023 for your crypto portfolio?

r/CryptoCurrencySee Post

"FTX faces backlash after proposed estimation of customers’ Bitcoin at $16k, ETH at $1258, and SOL at $16. FTX debtors argue that its estimate reflects the "fair and reasonable" prices of these cryptocurrencies".

r/CryptoCurrencySee Post

Is ICP A giant sleeping?

r/CryptoCurrencySee Post

Were attacks on ICP initiated by a master attack - multi-billion dollar price manipulation on FTX?

r/BitcoinSee Post

FIT21 legislation

r/BitcoinSee Post

FTX Creditors In Shock As Court Paper Priced BTC At $16,800

r/CryptoMarketsSee Post

Ex FTX CEO Sam Bankman-Fried Unlikely to Face Second Trial, U.S. Prosecutors Say

r/CryptoMarketsSee Post

Is it time to get back in?

r/CryptoCurrencySee Post

Getting funds out of FTX

r/CryptoCurrencySee Post

FTX debtors propose $16,871 Bitcoin price for creditor claims

r/CryptoCurrencySee Post

Crypto tracker

r/BitcoinSee Post

Bitcoin's 2023 Odyssey: Navigating the Peaks and Valleys of BTC Price Dynamics

r/CryptoCurrencySee Post

The so-called “experts” are starting to sound like the 2021 100k predictions

r/CryptoMarketsSee Post

FTX Debtors Propose Independent Agreement with SBF on Embed Acquisition Deal

r/CryptoCurrencySee Post

This sub's most hated blockchain is now top #4 of the crypto marketcap

r/CryptoCurrencySee Post

Why I would never invest in SOL, but happy for the people who made their gains.

r/CryptoCurrencySee Post

Why I sold $S0L at $14

r/CryptoCurrencySee Post

What had me convinced to sell Solana at $14 in March

r/CryptoCurrencySee Post

All crypto lost during wallet transfer

r/BitcoinSee Post

Any recommendations for fiat loan backed by bitcoin collateral? (US)

r/BitcoinSee Post

If FTX didnt collapse we would be up near $60k right now.

r/CryptoCurrencySee Post

So is Solana still considered a shitcoin?

r/CryptoCurrencySee Post

Guys, I don’t want to be rude or anything but not a single place or forum on Earth has trashed and hated Solana more than this sub. SOL is now number 4 by market cap and nearing a price of 100$ . What’s actually going on?

r/BitcoinSee Post

Bitcoin was the #1 Best Performing Asset in 2023, and at the beginning of 2023, they all said equities and bonds were the way. They thought I was crazy for buying bitcoin.

r/CryptoCurrencySee Post

Another 218K Stolen in a Phishing Scam . Maybe a Person of Interest?

r/CryptoCurrencySee Post

Anybody remember the ETH merge?

r/CryptoMarketsSee Post

FTX Files Plan to End Bankruptcy, Creditors To Collectively Lose Millions

r/CryptoCurrencySee Post

Best way to explain self custody to non-coiners

r/CryptoCurrencySee Post

FTX proposes plan to end bankruptcy

r/CryptoMarketsSee Post

FTX Unveils Amended Reorganization Plan Amidst Legal Cost Concerns

r/CryptoCurrencySee Post

FTX holdings got published - 15.445 mil SOL, 21K BTC, 113K ETH, 225 mil XRP, 23 mil APT

r/BitcoinSee Post

So how should I DCA?

r/CryptoMarketsSee Post

FTX Debtors’ Alarming Chapter 11 Plan Sparks Outcry Over Valuation

r/CryptoCurrencySee Post

Solana Rally Sees FTX's Holdings Grow to $4.2B, Setting Claims Market on Fire

r/CryptoCurrencySee Post

Why Bitcoin ETFs now after years of declining of the applications?

r/BitcoinSee Post

Is ledger bad now an if so what do I change to?

r/CryptoCurrencySee Post

Wallet Hacks & The BTC ETF

r/CryptoCurrencySee Post

Todays Ledger Hack & the BTC ETF.

r/CryptoCurrencySee Post

Actual Question and Potential Public Service Announcement

r/CryptoCurrencySee Post

Legitimate Question Here (100% Scammer Bot)

r/BitcoinSee Post

What is there to ensure that something similar to China mining ban or manipulation by FTX will not happen in 2025 bull cycle? Followup to earlier thread to disclaim all predictions since BTC didnt hit 100K in 2021.

r/BitcoinSee Post

Coinbase and Coinbase Custodian

r/CryptoCurrencySee Post

FTX: The Backstory

r/CryptoMarketsSee Post

FTX Set to Present Updated Reorganization Plan by Mid-December

r/CryptoCurrencySee Post

Block Market Index Debut! | Bitcoin Surge, Qatar's $500B Move, FTX Collapse, & GTA 6 Crypto Rumors!

r/CryptoCurrencySee Post

Crypto comes out on top after yet another round of fear and doubt. Here's a look at just the last 18 "end of crypto" and "look out below" panics we had in the last couple years. And after all that, crypto is still no closer to vanishing.

r/BitcoinSee Post

MicroStrategy is just more FAKE Bitcoin. Don't buy it.

r/BitcoinSee Post

MicroStrategy is just more FAKE Bitcoin. Don't buy it.

r/CryptoCurrencySee Post

Is this a big bull trap?

r/BitcoinSee Post

Going Infinite the book about FTX and SBF by Michael Lewis

r/CryptoCurrencySee Post

How would you spend $40K?

r/BitcoinSee Post

Unchained Capital next to go under?

r/BitcoinSee Post

Take your bitcoin off exchanges

Mentions

If you held your BTC on FTX before it collapsed, you should either sell it or move it into your cold wallet. If you bought BTC at 3k in 2019 and 2020, then the chance you already made good money even with the FTX collapse (the bottom of 2022 was 16k). The best strategy in investing is to invest in DCA over time, not timing the market like reckless traders. The traders always show you how much they make ("Today I am up 5k or 100%), but they never show you how much they lost. LOL. Find a good income source, and keep stacking crypto.

Mentions:#BTC#FTX#DCA

FTX's paper bitcoin fiasco contributed to the lower than expected all-time-high price during the last cycle.

Mentions:#FTX

Yeah but in few months looking back hopefully we’ll all be able to say we were able to accumulate a bit extra due to them keeping the price “down.” Crazy to say that 70K is the price being kept down though 😅 The FTX was a blessing in disguise for me being able to accumulate way more than I would have been able to otherwise.

Mentions:#FTX

Tokenized assets are not backed by the underlying asset. We learned this from the FTX tokenized stock. They are just created for locates and to dilute share pools

Mentions:#FTX

never listen to financial advisors. The FTX crash was when my then-16 year old son asked me "can i give you 300 € to invest in BTC for me? I'm sure it will never again be that cheap." Now he's 18 and i'll gladly move 0.02 BTC over to his wallet if he decides to create one.

Mentions:#FTX#BTC

Hopefully a good lesson to not blindly listen to others when it comes to your money. There’s absolutely nothing about the FTX situation that suggested Bitcoin was “going to zero”. These FUD events are all external to Bitcoin and only have a temporary effect.

Mentions:#FTX#FUD

1. "FTX and co" and is now an entirely different set of people 2. Most of the unlocked SOL has already been sold. 3. Most of the remaining locked SOL has already been sold as well.\ 4. They've actually been selling at a discount and they only sell OTC, so no pumping. 5. Wouldn't make sense for FTX estate to pump anyways as they're not keeping the money. Unless you think they're altruistically pumping to get more money back to the creditors (lol).

Mentions:#FTX#SOL

It’s not out of reach. Anything could have happened post FTX crash.

Mentions:#FTX

It was also lower due to FTX so this could go both ways

Mentions:#FTX

What about if the tokens aren't backed 1:1 with real stocks ala FTX tokenzation

Mentions:#FTX

Ahah cope is so hard. I would love to hear about the insiders infos that makes you think so. FTX sols were sold to pantera and locked for 4 years. The day I hear something positive from /cc on sol it will be time to sell my bag

Mentions:#FTX

The people who track such things and analyze data have come up with a number of 406 days to a new ATH post halving according to previous data. This is in essence nothing more than a general guidepost to what happened in previous years. Looking backward and trying to predict the future of a cryptocurrency is a pretty thankless endeavour because hindsight is always 20/20. We have had some serious Black Swan events that have affected the overall public perception of cryptocurrency thanks to FTX and other failures that Mr Dimon and Mr Buffet like to point to as proof of the failure of cryptocurrency whilst ignoring the numerous central bank fiat and stock market failures globally. Would I sell? No. Anything bought will be retained for a minimum of 4 years and added to along the way. *If you need that £2000 urgently then by all means do what you need to do*. You will most likely be paying more and getting less bitcoin for that £2000 should you decide to repurchase it at a later date. Its the same for everyone.

Mentions:#ATH#FTX

They'll handle it just as well as FTX

Mentions:#FTX

Vietnam represented 1.3% of FTX traffic so some losses were incurred there. Let's extradite him there after he serves here in the US

Mentions:#FTX

Not my first Reddit account, bud. How are you gonna recommend a yield app when all that shit happened with FTX, Celsius, BlockFi? Not your keys not your cheese.

Mentions:#FTX

This and FTX Lawers need to offload the SOL bags slowly to pay off losses. You can bet they won't be holding big bags into the next bear market.

Mentions:#FTX#SOL

Your downside is that you think you know what bitcoin is already. You think you know its pros and cons when really you don't. There's no such thing as 'crypto'. There's Bitcoin and there's scams. It's a nice positive feedback loop sucking in value and the only point it stops is when it's defacto monetary standard. Maybe then you'll be on board but that'll be too late for any meaningful gains. The stock market is carried by only a few companies. And it keeps up with inflation. But it has a ton of counter party risk. Bitcoin, well there is very little 3rd party counter risk. Look at FTX, the biggest scam on a colossal level. Bitcoin doesn't care, nothing changed, it carried on doing what it always does and made ATHs not even 18 months later. You either learn why bitcoin is the superior asset or you'll be rolling your eyes every couple of years when you see Bitcoin makes a new ATH. You just need to decide which camp you're in.

Mentions:#FTX#ATH

Still waiting for his parents and others at FTX and Alameda to be charged

Mentions:#FTX

tldr; Sam Bankman-Fried, the founder of FTX, has filed an appeal against his federal fraud and conspiracy conviction and his 25-year prison sentence. The appeal follows his sentencing in U.S. District Court in Manhattan, where he was also ordered to pay $11 billion in forfeiture for fraud at FTX and Alameda Research. The appeal will be heard by the 2nd Circuit U.S. Court of Appeals. Bankman-Fried was convicted of misappropriating around $10 billion in customer money, using it for investments, political donations, personal expenses, and repaying loans. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Mentions:#FTX#DYOR

FTFY: ECB: Fiat stabilization is likely its last gaspNovember 30, 2022 04:22pm GMT+05:30The European Central Bank said on Wednesday that the recent stabilization of fiat's value is likely "an artificially induced last gasp before the road to irrelevance," which was "foreseeable" even before the collapse of the currency exchange FTX. The ECB argued that fiat's market valuation is "based purely on speculation" and that its use in real-world transactions has been limited because "real fiat transactions are cumbersome, slow and expensive.""Since fiat appears to be neither suitable as a payment system nor as a form of investment, it should be treated as neither in regulatory terms and thus should not be legitimized," the ECB concludes, cautioning the financial industry not to promote fiat investments. "The negative impact on customer relations and the reputational damage to the entire industry could be enormous once fiat investors will have made further losses," it stated.

Mentions:#GMT#FTX

I bought more when FTX collapsed and told my coworkers about it, they didn't even respond to me. They all assumed I was a moron.

Mentions:#FTX

Me too I bought in at FTX collapse with family savings never told the wife . Took 2 years to replenish the family savings . Had to dodge the whole “honey let’s look at our savings account” a few times but finally in the clear

Mentions:#FTX

Me too. I immediately sensed that the FTX collapse was a buying opportunity. I wish I could have bought more under 20k.

Mentions:#FTX

FTX didn't collapse but Alameda was getting margin called during the Luna collapse which likely (though we don't know for sure) caused it to become insolvent. But I agree, SBF was absolutely the type to know how to pull off the attack but also careless enough to not consider their own exposure through Alameda.

Mentions:#FTX#SBF

I bet there aren't more than ten investors in the world who have that kind of liquidity and brass balls big enough to launch a billion $ depeg attack. SBF had the intelligence to predict that UST was vulnerable but maybe not enough to predict that it could adversely affect him. FTX didn't collapse for about six months after Terra / Luna, if memory serves.

Mentions:#SBF#FTX

Exactly. The last cycle was truncated early by FTX. So this should catch up more

Mentions:#FTX

It seems like there's always a cushion. Last time it was FTX, soaking up millions of customer dollars which should have gone into bitcoin.

Mentions:#FTX

My bet is coinbase is the next FTX. Maybe I’m tin foil hat wearing, but if they really wanted to deliver a fatal blow would be to move the psyop from FTX to coinbase

Mentions:#FTX

A lot of FTX Money is in there which has to come out. So the selling pressure is high for the manager to make all to fiat money.

Mentions:#FTX

What? Grayscale isn't selling and BlackRock isn't buying. Grayscale CUSTOMERS are selling (most of them forced liquidations due to bankruptcy proceedings of Genesis, FTX and DCG, and some looking for cheaper fees). BlackRock's CUSTOMERS are buying. Grayscale and BlackRock make **risk free** money off the fees of AUM. Not by buying BTC (not denying that BlackRock doesn't own BTC, but they purchase via OTC or dark pools and NOT via the ETFs).

Mentions:#FTX#BTC

It's funny that Gensler never sued FTX. Oh wait, they are the US gov plant.

Mentions:#FTX

I still have all my coins from 2013. I bought at the bottom of the market when FTX crashed, too. Since I'm retired, I don't have a set price. I "sell" when I need to buy something.

Mentions:#FTX

They pick the good actors Coinase, kraken, uniswap for enforcement actions and then they give perks to the bad actors FTX, Celsius, luna. Sam had half a dozens meetings with garry and brian recived zero meetings. There where even talks where FTX would recive a no-action letter, all whilst commiting massive fraud.

Mentions:#FTX

There is a fine line of when BTC will change from a Risk Asset into an Inflation Hedge. That line gets crossed with everyone (even institutions) realize that inflation cannot be controlled, thus fiat becomes the Risk Asset. Bitcoin is becoming less risk now, but mainly because there was absolutely NO REGULATION before. The lack of regulation allowed Celsius, Genesis, FTX, 3 arrows Capital to become crypto gangsters with nobody looking over their shoulder. But that is slowly changing. There will be a day when all FANG companies start holding BTC on their balance sheets and many central banks. It might happen sooner than most people realize. And with that comes more regulation because those big players were too late. When BTC does become an Inflation hedge, it will be so expensive the common person will not be able to buy it and take custody because transfer fees will be too high. BTC will probably go into backwardation with a 3 month wait time after purchase before it arrives in your US government approved exchange.

Mentions:#BTC#FTX#FANG

Look at the senate hearings. Search up Gary Gensler FTX or SEC FTX. Gensler was clearly under fire for not only the SEC failing to protect investors but his own ties to SBF. https://youtu.be/iF46tnLBQ9k?feature=shared Everytime there's a big fraud or fiasco in the crypto markets there is regulatory pressure because its the lack of regulaion that's blamed within govt as a factor in failing to protect investors. Its not that the "government needs to be at fault" which is a very naive take.

Mentions:#FTX#SEC#SBF

Make sure you get your own wallet. Not your keys not your crypto. If blockfi can put people on hold for refund for a real long time and FTX can take peoples money. Then you can be assured that this is next they will take your money

Mentions:#FTX

Coinbase = FTX

Mentions:#FTX

> On the flip side there's a lot pressure for increased regulation following LUNA, Celsius & FTX By who? Why would there be pressure for regulation? Its not like anyone blamed the government for FTX and so on lol

Mentions:#LUNA#FTX

You can blame FTX and shitcoins for much of the negativity. The FTX debacle and the recent trial of SBF, as well as the ubiquity of shitcoin scams and crashes have given the impression that all crypto is a scam that's going to zero. Most people aren't knowledgeable enough to understand why BTC is different.

Mentions:#FTX#SBF#BTC

On the flip side there's a lot pressure for increased regulation following LUNA & FTX

Mentions:#LUNA#FTX

So because SBF (dubbed "The King of Crypto") invested in Solana (before he committed any fraud) that somehow makes Solana guilty by association? By that logic, crypto is backed by scammers because FTX & Alameda invested across more than a couple dozen different crypto-related projects, businesses, and entities, as well as several Layer 1s. What incredibly poor logic. Best part, you don't even know how to back-up your claim that Solana is centralized - hence no response.

Mentions:#SBF#FTX

I fucking love this. We are so back. That FTX shit was scary bro!

Mentions:#FTX

Rofl atleast cardano can keep making blocks.. Solana is fucking buzzword dogshit with fake users fake tvl and fake consensus transactions. Nobody uses solana bullshit astroturfed metrics. Atleast cardano has a real community working on open source protocols. Solana is cefi database disguised as crypto with deep ties to Scam Bankrun Fraud FTX scammers. Shit is the biggest joke in crypto. Ppl buying solana are straight up braindamaged. 

Mentions:#FTX

Wait dude. Wait. It's not easy. I did something similar around 25k, believe me it was not easy, family lost 25% of their net worth in FTX, the thing is that I had to pay this back to them if BTC would not go up, fortunately, here we are around 69k... So they're happy now... Patience is key.

Mentions:#FTX#BTC

Dog. You didn't invest, you FOMO'd at 55k. In contrast, many of us started stacking again shortly after the FTX collapse. I hate to be that chest pumping asshole, but my portfolio thanks me for it. However we haven't even got the halving yet so you have a lot of time still. You just will only get 3x gains as opposed to 10x.

Mentions:#FTX

FTX, all in

Mentions:#FTX

Indeed, stablecoins often pose greater risks than initially thought. They introduce into the crypto space the kind of maturity mismatches commonly seen in money market mutual funds. As we have seen in the past year, redemption at par at all times is not guaranteed, risks of runs and contagion are omnipresent, and liquidation of reserve assets can lead to procyclical effects through collateral chains across the crypto ecosystem. Another episode of instability driven by high concentration risk was the fall of the crypto exchange FTX. Initially the crisis seemed to primarily affect liquidity, but it quickly evolved into a solvency crisis. This situation arose due to FTX’s inadequate risk management, unclear business boundaries and mishandling of customer funds. The repercussions of this event rippled through the crypto ecosystem, causing cascading liquidations that underscored the interconnectedness and opacity of crypto markets. Ultimately, it showcased how swiftly confidence in the industry could deteriorate. Similarities to the FTX case can be seen in the recent civil charges brought by the US Securities and Exchange Commission against the biggest remaining crypto exchange: Binance. These civil charges allege that Binance’s CEO and Binance entities were involved in an extensive web of deception, conflicts of interest, lack of disclosure and calculated evasion of the law. Should these allegations be proven, this would be yet another example of the fundamental shortcomings of the crypto ecosystem. The recent crypto failures also show that risk, in itself, is technology-neutral. In financial services, it does not matter if a business ledger is kept on paper as it was for hundreds of years, in a centralised system as we have now or on a blockchain as in the crypto asset ecosystem. In the end, whether a firm remains in business or fails depends on how it manages credit risk, market risk, liquidity risk and leverage. Crypto enthusiasts would do well to remember that new technology does not make financial risk disappear. The financial risk either remains or transforms into a different type. It is like pressing a balloon on one side: it will change in shape until it pops on the other side. And if the balloon is full of hot air, it may rise for a while but will burst in the end. Links with the traditional financial sector The second contradiction arises from the crypto industry’s attempt to strengthen ties with actors in the financial system, including banks, big tech companies and the public sector. Major payment networks and intermediaries have enhanced their support services for crypto-assets. Numerous prominent tech companies, including Meta (formerly Facebook) and Twitter, have explored ways to incorporate crypto into their platforms. By leveraging their large customer base and offering a mix of payments and other financial services, tech firms, especially big techs, could solidify the ties between crypto-assets and the financial system. The recent failures of Silvergate Bank and Signature Bank have highlighted the risks for banks associated with raising deposits from the crypto sector. The stability of these deposits is questionable given cryptos’ volatility. The discontinuation of the Silvergate Exchange Network and SigNet, which functioned as a quasi-payment system for the crypto investments of Silvergate Bank and Signature Bank clients, also shows how crypto-assets service providers depend on the traditional financial sector for settlement in fiat money. The crypto industry not only seeks to strengthen its ties with the traditional financial industry. It also seeks to gain access to the public safety net that strongly regulated financial entities benefit from. Indeed, Circle, the issuer of the USD Coin (USDC) tried to gain access to the Federal Reserve's overnight reverse repurchasing facility in order to back its stablecoin. The crypto industry is seeking to grow by parasitising the financial system: it touts itself as an alternative to the financial sector, yet it seeks shelter within that very sector to address its inherent risks, all in the absence of adequate regulatory safeguards. The public response: backing, regulating or innovating? The public sector response can be encapsulated in three main suggestions. Not giving in to the temptation to offer public backing to cryptos First, the temptation to offer public backing to cryptos must be resisted. The idea of permitting stablecoin issuers as non-bank financial institutions to hold their reserves at central banks might seem appealing, but could lead to serious adverse consequences. By granting stablecoins access to the central bank’s balance sheet, we would effectively outsource the provision of central bank money. If the stablecoin issuer were able to invest its reserve assets in the form of risk-free deposits at the central bank, this would eliminate the investment risks that ultimately fall on the shoulders of stablecoin holders. And the stablecoin issuer could offer the stablecoin holders a means of payment that would be a close substitute for central bank money. This would compromise monetary sovereignty, financial stability and the smooth operation of the payment system. For example, a stablecoin could displace sovereign money by using the large customer network of a big tech, with far-reaching implications. Therefore, central banks should exercise prudence and retain control over their balance sheet and the money supply.

Mentions:#FTX#CEO#USDC

FTX had full approval and was the most regulated crypto exchange of its time.

Mentions:#FTX

It doesn't hurt that SBF bought 10% of SOL supply which is still part of the FTX bankruptcy settlement. FTX holders should get paid out at market value. After the bankruptcy settles, poof.

Mentions:#SBF#SOL#FTX

#Crypto.com(CRO) Con-Arguments Below is a Crypto.com(CRO) con-argument written by a deleted user. > Crypto dot com (aka **CDC**) is a multi-purpose crypto platform known for its extravagant marketing campaigns such as purchasing its namesake domain name and the naming rights for the former Staples Center. It also has an exchange that's still not available in the US (though finally open for waitlist). > > I was their customer for 1.5 years, but left a month ago. It's frustrating seeing how much they spend on marketing and influencers instead of improving their platform. > > ## CONs > > - **Better competitors**: CDC's has many competitors with more features, lower fees, or better and easier-to-navigate websites/apps. CDC's platform tries to do many things, but it does everything subpar. The only thing that makes it really stand out is their debit card, which offers higher APY benefits for CRO and its earning platform if you stake large amounts of CRO. Though given how they've been slashing rewards across the platform, we don't know how long they can maintain their popularity through those rates. I've always suspected that these are promo rates that are only being maintained through their higher fees being charged everywhere else on their platform. (May 1st edit - CDC completely slashed their rewards for their cards: https://crypto.com/product-news/crypto-com-visa-cards-update. Except for the 2 highest and most risky tiers of staking, there's no point to using this card anymore. They've destroyed the best part of their platform.) > - **Focuses on marketing, not product** - CDC relied on marketing strategies that were designed to attract as many customers to their platform. Many basic features have been neglected. ACH transfers (specifically pulls) from banks did not exist until recently. Nearly all of its CeFi competitors (Gemini, BlockFi, Celsius, Nexo) have a desktop app for their main platform. CDC's platform is mobile-only and has been for years. I suppose its Exchange has a desktop site, but that isn't available in the US, and most of CDC's features are not related to its exchange. Instead, they focused on buying up tons of advertising (Stapes Center, Matt Damon's "Fortune Favors the Brave" campaign, LeBron James campaign) when they could've improved their products. > - **No US exchange**: Every couple of months, CDC's owners state that the US platform is coming in 1-2 months. I've been waiting since the start of 2021. They dropped multiple hints of a summer 2021 release, later delayed to Q4 2021. Now it's finally been released, but there's a waitlist for institutional investors, and we don't know if it'll be ready before the end of the year for the rest of us. > - **Massive spread and fees**: Those fortunate (or unfortunate) enough to have access to the exchange end up paying massive spread and fees compared to its competitors. It'll depend on what you buy, but the fees/spread are often 5x larger than those of Binance. It's not uncommon for fees to end up costing 3-5% of the transaction. > - **Lack of app security** - There is no password protection or 2 factor authentication for login on the mobile app. When you sign in, it sends your email address a link to use, making email the single point of failure. It was only after the Jan 18th hack that 2-factor was forced on, and even then it is only used for withdrawals and for bank-related settings changes--not for login. They need to take security more seriously. > - **Poor handling of the Jan 18 hack** - 400 accounts were hacked [by bypassing 2FA on Jan 18, with $33M stolen](https://cryptobriefing.com/days-after-alleged-33m-hack-crypto-com-still-silent/). Even worse, CDC forcefully-disabled 2FA on all accounts without warning. Barely any customers received emails about CDC crippling their 2FA. People only found out through social media or logging into their apps. They do have ISO IEC 27701 certification, but that's for privacy, and it's a joke to market it as security certification. > - **Poor handling of MCO swap** - Before CRO, CDC used a different ICO token to fund their platform called MCO. They cannibalized MCO to fund CRO, forcing everyone to swap to CRO at a fixed rate without adequate warning. > - **Too many large US banks block CDC**: My banks and credit cards work perfectly fine with Coinbase, Gemini, BlockFi, Binance US, Kraken, and FTX US. The only one they block is CDC. I don't know why so many large banks block it, but I suspect it was due to too many reports of shady activity or upset customers. The only way around this for many banks is to perform an ACH push from the bank side. Using CDC was the first time in 20 years I had to do an ACH push. > - **High withdrawal minimums** - Many of CDC's popular coins require a [minimum withdrawal of $25-50](https://crypto.com/exchange/document/fees-limits), and they still charge you a large withdrawal fee. Most ERC20 withdrawals are $25, and the BTC withdrawal is currently $20. Minimum withdrawal for fiat is $100. You're going to see high withdrawals unless you use their congested Cronos network or BEP20. > - **Cronos network often congested** - Since launch, their Cronos network has often been congested. It can take anywhere from a couple minutes to a full day to transfer any token. That's exceptionally bad for a mostly-centralized network that's modeled similarly to Binance Smart Chain. There was massive congestion in early April 2022 due to some coin launches. If they're getting congestion this early on, they're not going to be able to handle anywhere near BSC-levels of network activity. > - **Larger rewards require staking and locking CRO for 180 days** - Too many rewards require staking CRO for 180 days, during which it is completely locked. Many users bought CRO above $0.90 and couldn't sell when it halved in value. This is a huge risk. > - **Loot boxes** - CDC has gamified their platform and introduced loot/gacha boxes that provide trivial rewards for completing small tasks or making purchases. The rewards are embarrassingly small (nickle to dime values), and they're eclipsed by the higher fees paid to reach those rewards. You're better off using a cheaper platform for trades. > - **Cultish social media community** - Fortunately, this is no longer a big issue now that CRO has fallen 60% from its all-time high price. CRO investors who joined late 2021 have now had time to experience the massive flaws of CDC's platform and woken up from their drunken stupor. But rewinding to around the time CDC bought the naming rights to the former Staples Arena, CRO went viral and shot up 5x. For the next 6 months, their community went from slightly cultish to absolutely and unbearably irrational (similar to the Loopring and SafeMoon communities). There are still many CRO shills and way too many pictures of people's debit cards, but the community is much more balanced now. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_crypto.com.28cro.29) to find submissions for other topics.

Make no mistake that there will be a prolonged pullback somewhere down the line that it'll be a bear market situation rather than an ordinary pullback. During raging bull markets it's difficult to envision the bear in the future because of euphoria, same applies to believe a bull will come, price was sub 20K 1 year ago with no visible light at the end of the tunnel, here we are though at 70K. Bigger market cap, institutional money, ETF's, asset maturity etc will certainly decrease volatility, but BTC still remains an exotic, extremely volatile, high liquidity 24/7 asset that attracts hordes of speculators, like me and you for example. Keep in mind that ETF's are a double edged sword and that there will be profit taking and panic selling amongst ETF holders as well and that an ETF holders sell off can create severe fear for regular investors, as it creates enthusiasm when funds are flowing in, like now. Stock exchange will have bear, gold will have bear, dollar will have bear, make no mistake that BTC will have bear as well. How deep will be top of bull to bottom of bear next cycle, that's a big question mark. What i can tell you is that in 2021 i already had a strategy for the next bear. 25% of my capital on the way down until a 70% retrace and going all in there with the other 75%. Worked pretty well for me since a went all in at $20700 June 2022. Could have been better, but i am not greedy. It's a once in 4 years chance, i prefer to grab the chance, even if it's not near the absolute bottom, rather than missing the train. When the FTX situation happened though, at that point i got sure this was the absolute bottom of the cycle. That's when i told my friends "buy". Most didn't and bought eventually bought at $40K, you now how it works if your mind and stomach isn't really made for these things. I am not yet sure about my entry target next bear. I don't think that we'll go so low percentage-wise. I believe that I'll end up targeting a 50%-60% retrace bull top to entry target. Maybe 50% to be sure. Maybe 60%, I'll try to use my intuition when this unfolds, the fundamental reasons of the severe drop etc and act accordingly.

Mentions:#ETF#BTC#FTX

Are you aware of the exact restrictions imposed on exchanges in NY? That’s what kept FTX and Binance away. CZ and SBF both ran shady exchanges. Also, instead of typing some vague response trying to insinuate naivety, make an actual case.

Mentions:#FTX#SBF

FOR YEARS NOW.... The ALGO shillers were always the funniest. Tbf SOL definitely didn't feel like the easiest dropping to $8 in the 🐻 after FTX

Mentions:#ALGO#SOL#FTX

You wanna do that when the next FTX happens!

Mentions:#FTX

Bitcoin. Self custody. You just buy bitcoin then, huge chance you lose it in Mt gox. Then Celsius, earn, blockfi, FTX….

Mentions:#FTX

It isn't. People seem to forget that FTX had big bags. The lawyers need to sort out the debts to pay those owed, which won't be retail, and get paid also. It is in their interest to pump SOL, drive a retail frenzy, like with memes, and offload slowly.

Mentions:#FTX#SOL

Uniswap is a DEX (decentralised exchange) as opposed to a CEX (centralised exchange) like Binance, Coinbase, etc. Basically it operates on the blockchain instead of on a company's servers. So there is a higher level of trust with DEX'es. CEX'es use order books. People send their tokens to the CEX and place buy or sell orders for the tokens at the prices they are willing to pay or sell for. Similar to share trading. DEX'es operate using liquidity pools. For a trading pair e.g. ETH/USDT, people who want to contribute to the pool put an equal $ value of both ETH and USDT into this pool. They are called liquidity providers (LP). They earn a proportional cut of the trading fees charged when users buy or sell the tokens. If a user buys ETH, ETH will leave the pool, USDT will enter it and the cost of ETH will go up. And vice versa. People who contribute to the pools take the risk of ending up heavy on one or the other coin and it is a judgement call as to whether it is worth it for the fees earned. The more funds in the pool (i.e. higher liquidity), the less any one transaction will move the price. Anyone can set up a DEX pool, so it is popular with new token launches as they can set up a pair and provide the liquidity for their users to get started. They don't have to convince a CEX to list their coin, there are no set up fees, they are not at the mercy of the exchange's timescales. With a DEX users buy and sell directly from their wallet (e.g. Metamask) so you always hold the tokens and the risk is fully yours. Your tokens are not sitting on someone else's servers and so aren't subject to them being hacked or the exchange suddenly deciding you are a terrorist and lock your withdrawals. Or have them plain steal your tokens and do dodgy shit with them, like FTX. Most CEX'es require KYC which is a problem for a lot of the world, and many CEX'es will only accept users from certain countries. DEX'es do not (currently) require KYC, although the US is trying to change that. As DEX'es operate on the blockchain, you have to pay a blockchain fee for every trade (plus the DEX buy/sell fee). This can get expensive if the chain gets congested and is a common complaint. Etherium fees can get into the hundreds of dollars when things go crazy. Right now a blockchain trade fee is about $15-20. This is a flat fee whether you buy/sell $100k or $100 - it's literally just a fee to the blockchain miners to process a smart contract. So it sucks for small trades. Other blockchains and L2's have lower fees, but ETH is still king at the moment for options and liquidity. Long-story short, with a CEX you are trusting a third-party with your tokens (like a bank). With a DEX, you hold your own tokens in your own wallets, and only trust the DEX'es on-chain smart contracts for a few seconds when you do a trade. Some people would prefer a more familiar system and trust a third-party with their tokens, some people would prefer to hold their tokens at all times. There are pro's and cons to both.

FTX was in the middle of a bear market.

Mentions:#FTX

FTX needs to sell SOL to insiders who can then sell them at a huge profit at the expense of holders who are also FTX customers.

Mentions:#FTX#SOL

Arguably, last ATH was stopped early by China bitcoin mining ban then a few months later FTX and others collapse. ATH could have been higher thus at 70k we are right on track for where it would have been.

Mentions:#ATH#FTX

I bought in 2022/2023. thought 20k was the bottom so I bought. Two days later FTX collapsed and it went down to 15k. I was shook as there was a good amount but I just held. I was beating myself up for not waiting, but now it’s not so bad. I’m still buying little bits right here because I feel it’s got a way to go. I’m just going to hold

Mentions:#FTX

I doubt the dictatorship wants a decentralized exchange. If anything, and that goes for all the other options, they would prefer a CEX like FTX. No transparency whatsoever.

Mentions:#CEX#FTX

What's your take on CDC? I know the spread is high, but they've been pretty even keel and transparent with 1:1 reserves all through the bad news with FTX and Binance and so on.

Mentions:#FTX

Well what about FTX, Celsius, Blockfi, Genesis, etc? Those all had a lot of BTC and a lot of those were forced to sell the bottom. That pushed the price under $20k.

Mentions:#FTX#BTC

Haha FDIC insured??? None of these things are fdic insured. That’s for bank accounts. You’re dealing with crypto and bitcoin which aren’t insured…so things like FTX can happen. Robinhood crypto and Coinbase are crypto accounts and exchanges hold the keys and have a ledger that says you own so much, but they hold and control it. Robinhood Wallet (separate from Robinhood crypto) is a self custody hot wallet where you control the keys and is a separate app, but it’s “online” hence it’s hot. Tangem and other cold wallets are self custody wallets not online…ie you need a device/card/something to make outbound transactions.

Mentions:#FTX

If they buy it on exchanges they have two option. 1. leaving it on the exchange in the hope they exchange doesn't fail like FTX. Or 2. they keep it in seld custody, which would be the best option because that is the only way you actually own the Bitcoin. But some people don't like to self-custody for different reasons.

Mentions:#FTX

Poloniex has the ability to return it, hopefully they do. Funnily enough FTX used to be super helpful in these situations going out of their way to resolve mistakes with unsupported tokens. Not sure about Poloniex but you are at their mercy

Mentions:#FTX

Who got shafted by Blockfi and FTX, there would be some horror stories out there. Pay it forward to one of the poor souls that got caught out.

Mentions:#FTX

Same guy was doing deals with the FTX fraudster

Mentions:#FTX

Do you think conbase is too big to fail? People thought FTX was too. Having money in my own wallet gives me sovereignty. No matter what country I currently am, I have access.

Mentions:#FTX

Exchanges can and have gone belly up and people have lost all of their funds. Look up Mt Gox and FTX. It will happen again. If you don't control the private keys, you don't own any Bitcoin, you just have an IOU for some Bitcoin.

Mentions:#FTX

FTX was never Defi duh

Mentions:#FTX

yeah, to me, binance always had the best fees, unfortunately it also had quite the troubles to get fiat in [disabled euro/sepa, then the USD transfers were quite sketchy], lately I believe coinbase withdrawal fees were quite good, but their T0 trading fee is quite high, and kraken one's were somewhat lower (still higher than binance, though still alright), and their withdrawal fees were somewhat okay [just something I remember from memory] for what it was worth, FTX was a good exchange, shame that crooked sam couldnt keep his hands clean

Mentions:#FTX

Even FTX had a better scheme than these guys

Mentions:#FTX

Shouldn't exchanges have to register? Not projects but specifically exchanges like an FTX. Why wouldn't limited regulations on exchanges be a positive for the industry? S I am R ​ e ​ ouldn't exchanges have to register? Not projects but an exchange like an FTX

Mentions:#FTX

FTX was illusion. The others: TBD

Mentions:#FTX

I know FTX and other bad actors. I'm just curious on like specially coinbase here in the US. What do the numbers on exchanges mean is that tradeable or is it tradeable and the held BTC for it's clients?

Mentions:#FTX#BTC

You may groan now at people's frolics now, but wait till Bitcoin settles on some boring number like 72k and settles there for years, and as the culture goes stale, you will remember these as the best days of our lives. I got my first real Bitcoin stash Bought it with a click, no cash Watched it rise 'til my heart was glad It was the summer of '69 Me and some folks from around We believed, never backed down Despite the FTX crash, we stood tall Optimism like Michael Saylor's call Oh, when I look back now That summer seemed to defy all bounds And if I had the choice Yeah, I'd always wanna be around Those were the best gains of my life Ain't no use in complaining When you see Bitcoin's domain expanding I spent my nights tracking the charts And that's when I saw the sparks, yeah! Holding on to our digital gold Told ourselves it'd never grow old Oh, and when we saw its rise We knew it was now or never, wise Those were the best gains of my life Oh, yeah Back in the summer of '69, oh Man, we were killing time We were young and restless, seeking prime I guess nothing can stop the flow In Bitcoin's world, we'd always grow Yeah

Mentions:#FTX

I think FTX did a fine job as the crypto ambassador for the USA. Worked out well.

Mentions:#FTX#USA

For now until some of these shitcoin wallets go rampage and we will have new FTX kind of dip event.

Mentions:#FTX

People said the same thing about FTX and SBF, trade in the Wild West and you too might just be cut down at highnoon with no one there to protect you 

Mentions:#FTX#SBF

Mt. Gox, BlockFi, Youbit, Bitconnect, FTX, Celsius. The list will grow

Mentions:#FTX

ahhh FTX lol never mind

Mentions:#FTX

Can we take a minute to appreciate consolidation at these levels. Levels brought down so quickly by FTX last cycle. Now we are here at 66-69K and buying demand can handle every lettuce hand seller.

Mentions:#FTX