FTX

copyofa_

Uh, I believe a lot of those peoples’ assets are still not returned to them if they were using FTX

MariachiArchery

I fully expected that slide to head down to the 90k and sub 3k range. I was very surprised to see ETH bounce off that support at 3.2k, three times. BTC did the same thing just under 100k. Hit it three times than bounced right back. Both assets shot down, then bounced. Usually when this happens, we get one good bounce and then its all down hill. To see us bounce three times while only a few candles outside of 'extreme fear' surprised me. Another thing that has me intrigued, is the fact we have had this big pull back, without any real bad news hitting the crypto world. All the news around crypto has been relatively positive. The only bad news we are getting is about traders getting rekt on leverage. In the past, big pull backs leading to extreme fear has always coincided with some sort of event, like FTX for example, or Terra/Luna. I think, that sans some major event in the crypto space, there is a good case to be made for the bulls. However, the market's sentiment is fragile right now. If something bad happens, that will rocket us into extreme fear, and it will get ugly, fast. I guess we'll see! Fundamentals haven't changed, so I'm just gonna sit here and watch it unfold.

mitcher991

>bagholders Unironically yes. Doesn't make it any less true though. Alameda and FTX infamously pump and dump projects.

crypt0kiddie

I had a little over a thousand Solana, purchased for roughly $4 per before the first ATH. I managed to hold tight all the way through and never sold because $500 was coming any day. Then the whole FTX thing. I sold around $16. I will say I have considerably more XRP purchased at an average price of $0.24.

copyofa_

Yeah, the public got rekt last cycle with FTX, Celsius, etc. they aren’t hyped. They got burned by Tom Brady and the Hollyweirds. They were buying Costco Gold last year, if that tells you anything.

Mirko_91

Why would a 100x long opening or closing bring the price down lmao what are you talking about ? I am 100% lost by your reply you are totally right lol. You bag holders will just invent any imaginary reason why the price of your shitcoin is dumping. wow its manipulation, its FTX, its CZ, its Binance, its 100x LONGS when price pumps, jesus you're out of your mind completely

nomorebonks

You need to look at the charts and see FTX manipulation at the launch. It should have been maybe a $20 coin at launch but they manipulated it way up on perps on FTX.

Beneficial_Poet_7983

FTX failed because of a bear market (huge trading losses, in its trading arm Alameda), it did not cause a bear market.

ihatearguingonline

Only if you oversimplify complex events and fail to think for yourself. Okay, so what, the ghost of FTX/SBF is somehow haunting the Dfinity headquarters?

ihatearguingonline

And? I would've said the same thing when it was down 99.1%. It was manipulated at launch by FTX in the middle of an overly exuberant bull market. Dfinity took a big hit to their reputation but they put their nose to the grindstone and have been at the bleeding edge ever since. All VC unlocks are done and almost half the supply is locked/staked for 8 years. They did dump on retail to a degree but they had to. They have a huge team of expert devs making actually useful shit. The crypto market is irrational. Shocker eh? Dog and Fart coin did 100xs so the tech must be good lol. Arguments regarding price are irrelevant until you zoom out far enough. BTC had many 90% drops early on in its lifespan. DYOR, good luck.

nomorebonks

ICP has always had the most useful narrative in this space. Everything else just moves coins from one wallet to another. ICP is unmatched in tech capabilities. It’s not even close and never has been. FTX manipulation on launch tried to destroy it.

kennymac6969

Didn't all FTX members get 100% back or more? That's not typical.

coinfeeds-bot

tldr; Sam Bankman-Fried faces challenges in appealing his fraud conviction related to FTX's collapse. A US appeals court panel expressed skepticism about alleged trial errors justifying a retrial. Prosecutors highlighted overwhelming evidence, including testimony from former colleagues. Bankman-Fried claims FTX was solvent and faced a liquidity crunch, arguing bankruptcy lawyers prematurely forced Chapter 11. Despite changing crypto regulations, the court focuses on trial records, making reversal unlikely, and he may serve his 25-year sentence. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

DigitalHierophant

Kris had one of the few exchanges that survived the Luna/FTX collapse.

MaleficentShame1546

Limited Liability , can FTX

MaleficentShame1546

Everything is in FIAT and how much FIAT that is worth , and can only be paid by exchanges who can FTX overnight , you really think this is not private money, private money hates paying out

Kitchen_Image_1031

Smart money is buying on the way down.  Because when it crashes it will crash way harder than FTX

Pretenderinchief

I said years ago that Binance was the worst thing to happen to crypto and i still hold that true. FTX and all these other exchanges in the US got wrecked and people were prosecuted. They are untouchable and control MASSIVE liquidity for BTC and ETH, which in turn controls the rest of the market.

ubermensch1001

So, you expect ETH to tank to the levels we saw after the collapse of FTX? The fact that you people are so bearish shows how much the big money market makers have manipulated you fools. This is probably going to be an epic bear trap.

Xennenial

We are at the point where only the strong survive and the weak sell to me at a loss. If you're too afraid to buy crypto right now, pack your bags and go buy treasury bonds. I bought during COVID and the FTX crash when everyone else where whining about the price action and it was the best decision I ever made. You had best believe I'm buying this dip.

ubermensch1001

Bro, so you expect to see ETH go below the lows we saw after the crash of FTX? You also expect to see ADA trade below it's low of 25 cents this cycle? That's insane, man. This shit further convinces me we are in the middle of a huge bear trap.

NivekIyak

Oh for christ sake, will you guys give it a rest already. The amount of FUD ever since that massive liquidation event is annoying af. It just made me realise just how many bot accounts there are on X pushing narratives. While i understand people being hurt by that liquidation event, it was a culmination of multiple things. Trump creating opening after opening for bad actors to use his tweets as an excuse to do what happened. Binance is the biggest exchange in the world and has many enemies, not only exchanges but also the whole FTX thing still lingers and ofcourse their smartchain competes with others, hence LOTS of sharks swimming around. What happened back then is a big entity / group of players scouted the liquidity on the books (can easily be done, heatmaps). Massed the perfect amount, elevated that with leverage and whiped the liquidity creating a cascading event. Everyone with leverage in cross funding was caught. Afterwards all of’em got salty and started this whole Binance bad Binance this, CZ that. It’s annoying as hell, and all super obvious.

ubermensch1001

So, you think ETH in this scenario would trade lower than what it was at after the collapse of FTX?

MaxSmart1981

lol at SBFs arguments in his appeals case...claiming FTX was actually solvent is a laugh riot.

road22

These are the facts about BTC investing. 1. The only price that really matters is the price you sell it at; the rest is just noise. 2. The best-performing BTC wallets are the ones whose owners lost their private keys. 3. BTC is volatile. If you cannot handle it, you should not be in this market. 4. Holders with diamond hands, who held after the FTX collapse to 16K are still up 6X from their. 5. There is a reason why they call this a risk asset. 6. Nobody gets very wealthy without taking some risk.

partymsl

They have frozen countless accounts of even bigger whales, those customers also got no answers for months. Eventually as they got this whole shitstorm they are slowly moving on to unfreeze many accounts but even now they are acting like its a huge favor to just unfreeze the money that is not theirs anyway. Also... they are seemingly sextapes of employees. Basically FTX pro max.

AutoModerator

Post is by: ozgurates81 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1ooan06/icrypex_global_withdraw_problem_icrypex_global/ 25.07.2025 tarihi itibari ile Icrypex Global ve Icrypex TR kurusucu Gökalp İçersin bir avukat ile yaşamış olduğu uyuşturucu sorunu ve avukat'ın bu olay neticesinde ölmesi neticesinde Gökalp içerin tutuklanması ve sonrasın Türkiye TMSF ve SPK' nin Icrypex TR tarafına müdahale etmesi ve Gökalp içerin mal varlığına el koymasıyla son bulan süreçten sonra. Müdiler Icrypex Türkiye tarafında Ekim ayı başına kadar hesaplarında ki parayı çekemediler ki daha sonrasında firmaya atanmış olan kayyum'un bütün çıkışlara ve alım-satım işlemlerine onay vermesi ile Icrypex TR tarafında sorunlar kısmende cözüldü, fakat Icrypex Global tarafında ise müdiler 25.07.2025 tarihinde beri varlıklarını çekemiyor ve firma tarafından ciddi bir açıklama dahi yapılmıyor. Bu global taraf ile ilgili bu durum nedeni ile yapılan araştırmalar neticesinde coğu lisansının gerçeği yansıtmadığı doğrulanmış ve iddaa ettikleri lisans kuruluşlarına müşteriler mail atarak teyit etmiştir. Peki bu müşterilerin paraları nerede? Icrypex Global tarafta firma içerisinde yeterli likidite olmadığı için FTX firması gibi müşterilerin varlıklarına baştan beri doğruları yansıtmayan yalanlar ile el koydukları varlıklara işlem mi yapıyor sizce? Çünkü müşterilerin paralarının ne zaman ödeneceği konusunda bir açıklama yok? Tam olarak 3 ayı aşkındır bu müşteriler beklemede ve hiçbir haber kuruluşu sosyal platform yalakaları bir açıklama yapmıyor. Bu sessizlik niye peki? için içinde kimler var veya bu umarsızlık mı? Peki umarsızlıksa nerde haklının yanında olmak, yoksa olay zaten en başta küçük yatırımcıyı kullanmakmıydı, gerek birileri sosyal platform izlenme gelirleri ile gerek ıcrypex global tarafından sponsorluk almak için belki de, ama kesin bir şey var ise oda herkesin bu olayda dolaylı yada dolaysız bir parmağı olduğu. Çünkü haksızlığa karşı susmak, haksızlığı yapan kadar suçludur. Haklılığın onuru yaşatır insanı, susmanın utancı öldürür; 1. Peki Utancı Yaşayan Kim? Ben 3 aydır görmedim böyle birini, herkes utanmaz. 2. Suçlu kim? Susan Herkes; Vatandaşlarına kayıtsız kalan devlet, çıkarı olduğu için susan ekonomist youtuber'lar ( Selcuk Geçer, Ali Perşembe, Yazdığı Twiter'ı bile silen Selcoin saymakla bitmez), Firma kurucusu Gökalp İçer, Ezgi İçer, firmanın sırf maaş almak için insanların kandırılmasına yardımcı olan müşteri temsilcileri, gazeteciler ve maalesef bunlara inandığımız için biz bütün mudiler. Bu süreçte nemi oldu, anlatayım; 1. TMSF' kişinin şahsi bir sorunu yüzünden bütün yatırımcıları zor durumda bıraktı, benim suçum değil dedi, 2. Icrypex Global bu fırsatı kullanarak insanları TMSF, SPK tarafına yönlendirerek bunu süreci kullandı ve müşterilerinin paralarını çekim işlemine blokaj koydu. 3. Gerek müşteri temsilcileri olsun, gerek canlı destek ekibi olsun onlara ezberletilen sözleri müşteriye bahaneler eşliğinde açıklama olarak anlatarak mudileri tam 2 ay oyaladı. İçlerinden dürüst bir iki müşteri temsilcisi bu süreci kaldıramadı ve firmadan ayrıldı yada korkularından dolayı kaçtılar. 4. Firmanın başına Ezgi İçer geçti mudilerin parasını kendi parası olarak gördü ve 3 maymunu oynayarak paralarımızı kullanarak likidite açığını itiraf etmeden müşterilerin paraları ile işlem yaptırmaya başladı ve likiditeyi artırmayı planladı bence. Amacı sanırım bizim paramız ile firmayı ayakta tutmak. 5. “bilmiyoruz”, “halledeceğiz” gibi gerçek dışı ve oyalayıcı cevaplar verildi. Başta cüzdanlara TMSF’nin el koyduğu söylendi, fakat TMSF bu iddiaları yalanladı. Sonrasında ise hesapların tek tek incelendiği ve inceleme neticesinde paraların yatırılacağı yalanı trend oldu müşteri temsilcileri arasında :), kontroller başladı paralarınız yatacak hesaplarınız kontrol edildikten sonra dendi ( Sene 2025 te yapay zekaların ayyuka çıktığı bir dönemde tek tek kontrol ediliyormuş :), yersen tabi. Kısacası müşterileri aptal yerine koyan bahaneler ile 3 ay oyaladılar ve parayı kendi paraları gibi işletmeye devam ettiler. Sonuç olarak bu firma tam bir şarlatan, dolandırıcı ve müşteri memnuniyeti umurumdu olmayan bir firma, yalan atmaktan ve müşterileri kandırmaktan hiç utanmayan, etik değerleri olmayan bir firma. Biz mağdurlar olarak kimsenin duymak istemediği sesimizi hem; Twiter (X)'te ki [@Global\_ICmagdur](https://t.me/Global_ICmagdur) adresinden sesimizi duyurmaya çalışıyoruz, Telegram Grubumuzda https://t.me/Icrypexmagdurlaridayanismasi. Lütfen bu haksızlık karşısında sizde sessiz kalmayın, destek verin ve sesimize ses olun ki bu firmadaki küçük yatırımcılar varlıklarını çekebilsin. Daha sonrasında kimse bu firmanın yakınından bile geçmesin. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Simke11

Always takes a bit of time for it to unwind. If we look at Luna crash as an example, took almost 6 months after that for all dominoes to fall and conclude with FTX collapse.

funkinaround

> So by that logic, the exchanges giving USD for USDT are frauds  Nah, the exchanges like Kraken that have USDT:USD markets are legit and so is Tether. > Those redemptions are claimed by tether and substantiated by nothing.  It gets substantiated every quarter by BDO. > if you have the reserves it shouldn't be a problem. You mean, if you want to spend more money on customer support handling small redemption requests, it shouldn't be a problem. Tether would clearly rather focus on larger clients with more money just like anyone else in finance. > Instead you are forcing them to go through exchanges, like FTX, which may collapse on them before they can redeem.  Use legit exchanges instead of shady unregulated exchanges and you'll be much better off. To make it simple: _If you have reserves, publish attestation reports with a reputable auditor proving you have them._ You know, like the NYAG forced Tether to do.

coinfeeds-bot

tldr; Sam Bankman-Fried, former CEO of FTX, is seeking a new trial after being convicted in 2023 of orchestrating a massive fraud involving billions of dollars. His appeal claims judicial bias and argues that FTX faced a liquidity crisis rather than insolvency. Prosecutors counter that he misused customer funds and presented false claims about FTX's financial health. Bankman-Fried, currently serving a 25-year sentence, maintains his innocence, but his chances of overturning the conviction are slim, with federal criminal appeals succeeding only 6% of the time. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Onlyhereforprawns

Haha, nice try clouding the issue. So by that logic, the exchanges giving USD for USDT are frauds (you're probably not wrong there considering some have already started limiting redemptions with this downturn). Those redemptions are claimed by tether and substantiated by nothing. Let regular traders exchange their USD for the USD-T they hold, if you have the reserves it shouldn't be a problem. Instead you are forcing them to go through exchanges, like FTX, which may collapse on them before they can redeem.

Junkhead_88

CZ just got a free pass to FTX everyone as long as the right people profit from it.

Kitchen_Image_1031

Keep prices low for institutional greed. When hands 🙌 rotate to crypto pump, then that may be the bubble. There’s always a bubble coming. FTX and Terra Luna will have their moments in the sun again, just diff participants.  When it crashes hard, it will crash extra hard. 

Denver-Ski

**June 2011: -99%** Bitcoin surged from $2 to $32 before Mt. Gox was hacked, flooring the price to $.01 in a day. **August 2012: -56%** A Ponzi scheme from Bitcoin Savings and Trust (BST) promised 7% weekly returns, but stole 700,000 BTC. **April 2013: -83%** Mt. Gox crashed was hacked, dropping Bitcoin from $260 to $50. **December 2013: -50%** China banned Bitcoin, crashing BTC’s price overnight. **Dec 2017–Dec 2018: -84%** After peaking near $20k, Bitcoin corrected below $12k as investors sold off and hacks hit Asian exchanges. **March 2020: -61%** COVID market panic crashed Bitcoin from over $10k to under $4k over a few weeks. **May 2021: -53%** After hitting $64k, Bitcoin crashed as Tesla dropped BTC payments, China cracked down, and energy concerns spread. **Nov 2022: -77%** FTX collapsed amid fraud by Sam Bankman-Fried (SBF), triggering a massive crypto sell-off and Bitcoin dropped to $15k.

Upset_Dealer5664

Just like it had never gone below the 200 week moving average, until it did. It’s a young asset, don’t let data points about what it’s never done before fog your judgement if you’re a newcomer and bitcoin does something for the first time, because it will. I felt shaken when it lost the 200 week SMA hard in 2022 for the first time during the FTX fallout, but I stopped looking at the price so often, I stayed convicted with my DCA plan, and I have a sweet stack of BTC today that I continue adding to daily as a result.

OkLead2576

I've very very loosely followed this cycle after having my eyes glued to the charts last cycle. I have to say, it's not as bad but this definitely feels almost exactly like the end of 2021. All we need is the next FTX to fall and it could pretty easily crumble down. Especially seeing that it's exactly been 4 years. All I know is that I'm holding, did it last cycle, happy to do it again. Just accumulate spot funds, leverage is a losing gamble unless you really know what you're doing and you're lucky. Imma kick back, relax and watch the show while I wait for the 2028/9 bull run patiently!

perceptual01

We’d be peachy right now if it wasn’t for FTX, Celsius and 3arrows. I stand by that

Mental-Ad-1043

I’m not arguing, you don’t seem to get that. Why would I need to argue when you proved yourself wrong almost instantly? The figures are available to all to see, but you changed the conversation into dismissing that and into name calling where you think you are winning where no one else is playing. Tsjanith: “It is incalculably worse now” “Hi chatgbt …. Can you tell me when crypto was calculably worse than it is right now?” Here are the most notable downturns in crypto history, with context: ⸻ 1. 2018 Crypto Winter (After the 2017 Bull Run) • Time period: January 2018 – December 2018 • Drop: Bitcoin fell from ~$19,800 → ~$3,200 (≈ –84%) • Market cap loss: ~$830 billion → ~$100 billion • Cause: Burst of ICO bubble (massive speculative mania in 2017), regulatory crackdowns, and waning retail interest. • Significance: First major, global bear market that defined “Crypto Winter.” ⸻ 2. May–June 2022: Terra–Luna & FTX Fallout • Time period: May 2022 – November 2022 • Drop: Bitcoin from ~$47,000 → ~$15,500 (≈ –67%) • Market cap loss: ~$2.9 trillion → <$900 billion • Cause: • Collapse of Terra/Luna stablecoin ecosystem ($60 B+ wiped out). • Contagion led to Celsius, Voyager, and later FTX bankruptcies. • Sparked mass liquidations and distrust in centralized crypto institutions. • Significance: Widely considered the worst systemic crash in crypto’s history — entire firms, not just prices, imploded. ⸻ 3. March 2020: COVID-19 Flash Crash • Date: March 12–13, 2020 (“Black Thursday”) • Drop: Bitcoin from ~$9,000 → ~$3,800 (≈ –57% in 24 hours) • Cause: Global market panic due to COVID lockdowns; leveraged positions wiped out. • Significance: Largest single-day percentage crash in Bitcoin’s history. ⸻ 4. 2021–2022 Correction • Time period: November 2021 – June 2022 • Drop: Bitcoin from ~$69,000 → ~$17,000 (≈ –75%) • Cause: End of stimulus-driven bull run, rising interest rates, and speculative excesses unwinding. • Significance: Longest and most severe correction since 2018; led directly into the 2022 crash.

Consistent-Baby5904

Trump x CZ team now fucking crypto systems. I vote full De-Fi and hold exchanges to full investigation and shut those fuckers down like FTX and Terra Luna.

Future-Bet4783

More people were onboarded onto crypto in 2021 than in 2025. There’s no FTX paying esports teams and celebrities to onboard new people this cycle. As much as you guys may hate FTX, they did the heavy lifting for marketing crypto last cycle. No one took that role this cycle which is why alt coins have been crappy

Aerocryptic

Like worse than after Luna crash and FTX blew up? 🥸

canadianragweed

2014, 2018, and 2020 were brutal. 2022 was at least tied to macro environment. (I guess 2020 also). But the path to future adoption was much more clear. 2022 was brutal to those in exchanges like FTX, Cel, Voyager, Blockfi, etc. I guess in the end it was a wake up call for everyone leaving crypto on exchanges.

harvested

Mate, there's nothing to address here, really. This low effort post sounds like it could be made during the FTX lows. I have no idea what stadiums and ads you're referring to. 5.5 million coins changed hands above $100K, that's over 600 billion capital inflows. This is basically the opposite of what you describe. We're entering a new era for bitcoin. A rotation away from OGs and into, well, whoever is accumulating. It could not be more bullish. You're just not paying attention. You also speak as if adoption will stop, but all evidence suggests the opposite. Also, how many asset classes cause someone such as yourself to write 10 paragraphs of criticism on the weekend? ;) what are you trying to achieve? That alone is bullish. Further reading: https://river.com/learn/files/river-bitcoin-adoption-report-2025.pdf https://epochvc.io/pdf/Epoch-Bitcoin-Ecosystem-Report-2024.pdf

Illustrious_Way3898

OP: Why was CZ sent to prison? What did he do wrong? Did they just go after him because he refused to bail out FTX?

aminok

It's ironic that you call me brainwashed when you are believing these despicable propagandists who wage an exclusive war against crypto and attacking their enemies so that they can come back to power and keep destroying crypto. And of course, like a blameless lemming, you believe all the propaganda about Trump as well. They are the most corrupt party in history and here you are buying every single hit piece that they put out on Trump. Their goal is to draw all attention to him and wait for themselves. She is extremely anti-crypto. You believe all of her ridiculous propaganda. • [Sen Warren Calls DeFi the ‘Most Dangerous’ Part of Crypto at Senate Hearing](https://www.pymnts.com/cryptocurrency/2021/sen-warren-calls-defi-most-dangerous-part-of-crypto-at-senate-hearing/) • [The Digital Asset Anti-Money Laundering Act is an opportunistic, unconstitutional assault on cryptocurrency self custody, developers, and node operators](https://www.coincenter.org/the-digital-asset-anti-money-laundering-act-is-an-opportunistic-unconstitutional-assault-on-cryptocurrency-self-custody-developers-and-node-operators/) — "Nothing about the bill would prevent the next FTX. In fact, it puts users at more risk." She also celebrated the indictment of the Tornado Cash developers. This was the first time in US history that open-source developers had been held criminally liable for other people misusing the code they published. It was unbelievably dangerous and universally condemned by everyone in the crypto space and many people outside of it. And here you are claiming she's not anti-crypto. She even publicly posted on Twitter that she was assembling an anti-crypto army and you're still trying to gaslight people here claiming she wasn't anti-crypto? The shamelessness of the Democratic Party has no limits.

aminok

She is extremely anti-crypto. You believe all of her ridiculous propaganda. • [Sen Warren Calls DeFi the ‘Most Dangerous’ Part of Crypto at Senate Hearing](https://www.pymnts.com/cryptocurrency/2021/sen-warren-calls-defi-most-dangerous-part-of-crypto-at-senate-hearing/) • [The Digital Asset Anti-Money Laundering Act is an opportunistic, unconstitutional assault on cryptocurrency self custody, developers, and node operators](https://www.coincenter.org/the-digital-asset-anti-money-laundering-act-is-an-opportunistic-unconstitutional-assault-on-cryptocurrency-self-custody-developers-and-node-operators/) — "Nothing about the bill would prevent the next FTX. In fact, it puts users at more risk."

pop-1988

Trust FTX more than Coinbase Write your seed phrase on paper. See the FAQ at the bitcoin beginers sub for more advice about seed phrases, passphrase, cold wallets Inheritance is a separate question. There are third parties who offer multisig schemes: Casa, unchained, and a few others. Also read Pamela Morgan's book https://www.amazon.com/Cryptoasset-Inheritance-Planning-Simple-Owners/dp/1947910116

Coolala2002

Down less than 5% the same month we had a $19 billion wipeout, exceeding the FTX collapse. Have some perspective.

AccomplishedView4709

He still does not understand he is in Jail now because he misused customers funds without approval (i.e stealing) and comingled the customers fund with FTX's to be used as piggy bank for Alameda Research while lie about the links between the two firms.

Archophob

when i started buying in 2021, it kept oscillating between 30k and 50k. I didn't buy on a fixed schedule, but like every time i had spare money to invest. Assume, the last time it hit the 30k mark, i would have dared to think "it can only go up from here, i'll try 2x leverage" - and then comes november 2022, and the FTX dip gets the price to 15k. Only a "small" leverage, but it would have been a total loss. Instead, i still have my coins, and i bough a little more when it was cheap. Leverage is for gamblers. Also, buying with leverage is not buing the real thing. Buying the real thing means, you can take your Gold Coins home and you can withdraw your BitCoins into your wallet. Both doesn't work with leverage.

Flowa-Powa

You have far too much trust in Coinbase. There are so many stories of them arbitrarily freezing accounts. Also, and more catastrophically, they could go bust. If any of the big exchanges are going to do a FTX, it's Coinbase. There are a colossal amount of online resources describing how to safely manage your own custody, and the whole not your keys not your coins thing is 100% accurate and you've surely heard it literally hundreds of times. You're setting yourself up to be a victim, sort it out

Ikki_The_Phoenix

"People ACTUALLY NEED gold and real estate" Bruh, nobody needs gold. You can't eat it, live in it, or burn it for heat. It's a shiny metal that sits in vaults doing nothing. Its primary value is as a store of value and jewelry both driven by collective belief, not utility. Real estate has utility shelter, sure. But the investment value of real estate is speculation on future prices the same "next person paying more" dynamic you criticise BTC for 🥴 People buy investment properties they don't live in purely to sell later for profit. That's speculation, not "need" "They don't need useless code to make a transaction" Your bank account is code. Your credit card is code. Stock certificates are code. The entire modern financial system runs on "useless code." The difference is BTC code is transparent, auditable, and can't be changed by a CEO or politician and yeah, people do need censorship resistant transactions. Canadians who had bank accounts frozen for donating to truckers Russians who can't access SWIFT Argentinians watching their currency collapse anyone trying to send money internationally without paying 10% fees and waiting days you don't need it because you live in a stable country with a functioning banking system. Billions of people don't have that luxury. "Just because they aren't making more of it doesn't make it worth more" Scarcity + demand = value. This is basic economics. They're not making more Manhattan real estate either that's why it's expensive. Gold is valuable partially because we mine very little new supply relative to existing stock. Scarcity matters when there's demand. "Then why wouldn't the other ten million cryptos be worth the same?" Because they don't have BTC network effect first mover, most adoption security most hashpower, hardest to attack liquidity deepest markets globally Proven track record 15 years, survived everything there are ten million altcoins because any scammer can copy code. But they can't copy network effects, trust, or infrastructure. That's why BTC is 60%+ of crypto market cap while 99% of alts die. This is like asking "why isn't every search engine worth the same as Google?" Because network effects and adoption matter. "Most obvious bubble of all time inflated by president trump" BTC existed 15 years before Trump gave a shit about it. It survived the following scenarios: 2013 crash (down 80%) 2017 crash (down 84%) 2022 crash (down 77%) China banning it multiple times Mt. Gox collapse FTX collapse Endless "btc is dead" articles Trump launched meme coins in 2024 to 2025. BTC hit $69k in 2021 before he cared. You're confusing recent grift with a 15 year old asset. "Congrats on making his son rich lol" I don't own Trump coins. I own BTC. Trump's family grifting with shitcoins has nothing to do with BTC fundamentals just like Enron committing fraud didn't make all stocks worthless. Trump is a grifter using crypto for personal gain. That doesn't invalidate the concept of decentralised money any more than corrupt politicians using dollars makes fiat worthless. "Honestly not even worth arguing" Translation, "I have no actual rebuttals so I'll declare victory and leave." You haven't addressed the following. "Why inflation stealing purchasing power is good for savers" "Why trusting institutions with unlimited money printing is smart" "Why people in unstable countries shouldn't have financial alternatives" "Why a 15 year old network surviving multiple 80% crashes is a "bubble about to pop" You just keep repeating "it's useless code" while defending a system that's robbed you of 95% of your purchasing power over a century!! 🥴

coinfeeds-bot

tldr; A post from Sam Bankman-Fried's X account claims FTX was never bankrupt, asserting the exchange faced a liquidity crisis, not insolvency, during its November 2022 bankruptcy filing. The 15-page document argues FTX had sufficient assets to repay customers, highlighting stakes in firms and crypto holdings worth $136 billion. The post briefly boosted the FTT token's price and reignited debate over FTX's collapse. Critics dispute the claims, and speculation surrounds potential political maneuvers ahead of SBF's sentencing on Nov. 4. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

liquid_at

The whole thing was shady from the start. SBF definitely had terrible bookkeeping practices and did shady stuff, but that does not mean that the forceful closure of FTX and locking every customer out of their accounts was legitimate either. It is possible to consider both sides as the enemy. You do not have to pick one to support, just to have the right to criticize the other. Retail got between the cogs of wallstreet moneys game of thrones. Big boys fought for power and retail paid for it.

GreedVault

1 "**Disgraced** FTX founder Sam Bankman-Fried (SBF) has claimed in a new report that his bankrupt cryptocurrency empire was never insolvent." 2 the article ends eith **ZachXBT’s rebuttal** If you read the article, you will see that it is against SBF, not in support of him.

KIR_Finance

That’s a complicated question… For reference, read ‘Going Infinite’ by Michael Lewis which chronicles the collapse of FTX. Sam received terrible legal advice but also had terrible accounting and was extremely disorganized which sums him up pretty perfectly. At the time of the bank run they thought FTX had a huge hole in their balance sheet but in reality once the Enron bankruptcy guy was appointed by the bankruptcy court it turned out that all the money was there all along - just not accounted for. The funneling back and forth between FTX, Alameda and their various political contributions, sponsorships, etc. is where it got lost. Took a while but they found it all and then some. If you ultimately look at the bankruptcy settlement, the creditors all made money above their initial investment which is completely unheard of in a bankruptcy settlement. (That means they were profitable). Additionally, FTX US was also profitable and a separate entity and was still rolled into the bankruptcy via bad legal advice along with signing the FTX and Alameda over. Truly the whole thing was rushed and he received awful advice. Now ultimately, was it his own fault for hiring unqualified people that were in way over their heads - yes. Was it his own fault the money couldn’t be found because of how disorganized they were - yes. Did the creditors get paid back their investment and then some - yes. So, does he deserve to spend his life in prison? He screwed up for sure but I would say no. Edit: Here is a link to the book if anyone is interested. It follows him from Jane Street through the collapse - Going Infinite: The Rise and Fall... https://www.amazon.com/dp/1324074337?ref=ppx_pop_mob_ap_share

coinfeeds-bot

tldr; Sam Bankman-Fried, the founder of FTX, claims in a report that the cryptocurrency exchange was never insolvent and blames its collapse on bankruptcy lawyers and mismanagement by the legal team. He argues that FTX had sufficient assets to repay customers and alleges that $138 billion in value was lost due to asset sales at low prices and legal fees. Critics, including blockchain investigator ZachXBT, refute these claims, stating FTX faced a liquidity crisis in 2022 and that Bankman-Fried is attempting to shift blame for the collapse. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Future-Bet4783

Binance is a straight criminal organization. It should have been them and not FTX

Suspicious_Compote56

I personally think crypto was being manipulated far before Trump entered the market. People will wake up and realize institutions entering the market was never a good thing. They have been gaining ground ever since the FTX crash.

crowdext

And the BOLD get fucked by FTX 🤣

KiNg-MaK3R

We followed the same path for the same reason. The FTX crash was tough man, but we came out the other side 🫡

hollmarck

The audacity is actually impressive in a depressing way. Anyone associated with FTX should be radioactive in this space but here we are with another platform launch. This perfectly captures the problems with crypto where past failures dont matter if you have connections and capital. The fact that anyone would trust funds to someone from that organization shows we havent learned anything from the FTX collapse. Due diligence matters more than ever which is why Im more careful about researching team backgrounds and actual product viability. Projects like Battle SOL at least have transparent teams and verifiable on chain activity which should be the bare minimum standard in 2025.

Simke11

They'll be next bear market's Luna / Celsius / FTX

coinfeeds-bot

tldr; Former FTX US president Brett Harrison is launching a new venture, Architect Financial Technologies, to introduce crypto-style perpetual futures contracts (perps) to traditional finance. The platform, called AX, will offer trading in stocks, forex, indexes, and commodities, with plans to expand into AI-related assets. Operating under Bermuda's regulatory framework, the platform allows collateral in fiat and stablecoins. Regulatory challenges remain, as U.S. authorities have yet to approve perps for traditional or crypto markets. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MaseInUrFace16

Has the former FTX President tried to put a girl on?

Savi321

Dang, is FTX next in line to be pardoned after CZ? Life is coming full circle for even the most notorious individuals.

copyofa_

Remember FTX? A lot of people got burned, that’s why I think Costco gold was so popular last year

Happy-For-No-Reason

it's been a few years since FTX, I'm sure there's loads of new morons ready to be parted from their cash who has no clue. if they call it FTX again, well that's even funnier

HSuke

It's FTX US's president, not FTX's US president Lol

rjm101

FTX, Celsius, Voyager, Blockfi, Hodlnaut, Coinloan, Haru invest went bankrupt and undoubtedly took some of these people down.

normnormno

how we paying the extortionate interest? "just get another...larger loan next year" you don't see the problem there that's great for their business models. One fuck up with repayments or you get liquidated and you suddenly have a massive tax obligation on your hands to add insult to the injury. Then there's the counterparty risk of someone stealing your collateral (FTX, etc) or someone locking your access until you prove some things to them. It's funny because we've actually seen people do this to buy more bitcoin and end up with nothing. There are too many risks behind the scenes to be flippantly recommending it.

Chrysalis1111

It is limited, duh. It runs out at some point, and exchanges always sell more than they have, see FTX. It will run out once and only once, and then avg Joe gets sidelined forever. You who say that there will always be BTC for sale, you sideline poor avg Joes deluding them that there's still time. Shame on you.

Longjumping-Row-6147

That liquidation earlier in the month was even bigger than FTX collapse. As much as we hate that it “derailed” October - in another sense it may have reset the market in a way that allows a more sustainable uptrend from here. If things had kept screaming upward who knows - perhaps we would have had an earlier conclusion to the cycle given how unsustainable it (may) have become. I hope this has shaken our weak hands and tons of leverage for a great move upward in the next few months. 

slvbtc

Yes perpetual and inverse perpetual positions. He uses a few exchanges to trade but i assume that is because he gets a kick back for promoting them. However the main one and the best one is bybit. Bybit has withstood every downturn and every hack (like FTX) and itself has been hacked yet flawlessly stayed up and running while making sure every user was unaffected. It is based in Singapore and is extremely highly regulated under Singapores financial regulations.

Laakhesis

When did you start trimming it? I’m already up almost 5x from DCA-ing since the bottom of the FTX collapse, and I’m thinking of trimming it since it holds about 90% of my total net worth.

LocalLive2264

Yes, he is a noble person who once exposed the crimes of FTX. I forwarded him the Binance Matching Engine issue I found on X today, and I hope he sees it.

harvested

8 years? It's over 6x from FTX lows buddy. Are you cherry picking blow off tops? 😂

Odd_Sir_8705

Just like Tom Brady and others “backed” FTX? They dont mention his full involvement nor financial contribution. He could just be the face card..,

Objective-Ring7630

FTX ?

PrinceAkeemofZamunda

You can get your Celsius CSV by emailing Stretto, tho it's not immediate. There's prob a similar option for FTX. Next step is uploading /using API when possible onto Koinly. There's a CPA on the Celsius sub who made a video course on how to account for the Celsius losses and transfers who can help. It'll take some money and time but you should be fine

jponline

Check the timeline. CZ with Bnance almost acquired FTX, then no. check FTX SBF funding to tokenize GME and AMC on Terra Luna, pumped to 40B MC then dumps as liquidity is needed. 🤔 they’ve distracted you these last few years, weak.

AutoModerator

Post is by: Clear_Medium_5858 and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1ogu2m8/exchange_collapsed_irs_still_wants_proof_im/ So I'm in a situation that probabbly some of you can relate to and honestly I dont know what to do. I had accounts on FTX and Celsius before they collapsed. Lost a decent amount of money when they went under. But heres the problem... I cant access any of my transaction history now. No CSVs, no records, nothing. Those platforms are just gone. I also moved crypto around between exchanges constantly. Bought ETH on Coinbase, sent some to Binance, traded for other tokens, moved stuff to cold wallets. I wasnt keeping detailed records because I figured I could always download transaction history later. That was stupid. Now tax season is coming and I'm panicking. Coinbase sent me a 1099 K form showing my "gross income" as way higher than what I actually profited. Because they count every single transaction... deposits, withdrawals, trades... as income on that form. So on paper it looks like I made $120,000 when I actually made maybe $8,000 after accounting for losses. The IRS doesnt care that FTX collapsed with my records. They dont care that I cant prove my cost basis for half my trades. They just see that 1099 K number and expect me to explain it or pay taxes on the full amount. I tried reaching out to FTX bankruptcy administrators to get transaction history. No response. Celsius has a claims portal but its a mess and doesnt give you proper tax documents. Meanwhile the clock is ticking and I'm sitting here trying to reconstruct months of trades from blockchain explorers and random screenshots I took. Its basically impossible. If you're trading crypto right now, download your transaction history regularly. Export CSVs monthly. Screenshot everything. Because if that exchange goes under tomorrow, you're on your own and the IRS will still come knocking. How would you handle missing records from collapsed exchanges? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

AutoModerator

Post is by: dumble_hold_the_door and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoMarkets/comments/1ogtzmw/exchange_collapsed_irs_still_wants_proof_im/ So I'm in a situation that probabbly some of you can relate to and honestly I dont know what to do. I had accounts on FTX and Celsius before they collapsed. Lost a decent amount of money when they went under. But heres the problem... I cant access any of my transaction history now. No CSVs, no records, nothing. Those platforms are just gone. I also moved crypto around between exchanges constantly. Bought ETH on Coinbase, sent some to Binance, traded for other tokens, moved stuff to cold wallets. I wasnt keeping detailed records because I figured I could always download transaction history later. That was stupid. Now tax season is coming and I'm panicking. Coinbase sent me a 1099 K form showing my "gross income" as way higher than what I actually profited. Because they count every single transaction... deposits, withdrawals, trades... as income on that form. So on paper it looks like I made $120,000 when I actually made maybe $8,000 after accounting for losses. The IRS doesnt care that FTX collapsed with my records. They dont care that I cant prove my cost basis for half my trades. They just see that 1099 K number and expect me to explain it or pay taxes on the full amount. I tried reaching out to FTX bankruptcy administrators to get transaction history. No response. Celsius has a claims portal but its a mess and doesnt give you proper tax documents. Meanwhile the clock is ticking and I'm sitting here trying to reconstruct months of trades from blockchain explorers and random screenshots I took. Its basically impossible. If you're trading crypto right now, download your transaction history regularly. Export CSVs monthly. Screenshot everything. Because if that exchange goes under tomorrow, you're on your own and the IRS will still come knocking. How would you handle missing records from collapsed exchanges? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoMarkets) if you have any questions or concerns.*

Denver-Ski

Shouldn’t even be in BTC if an 8% drop would shake you out. **Major Crashes:** **June 2011: -99%** Bitcoin surged from $2 to $32 before Mt. Gox was hacked, flooring the price to $.01 in a day. **August 2012: -56%** A Ponzi scheme from Bitcoin Savings and Trust (BST) promised 7% weekly returns, but stole 700,000 BTC. **April 2013: -83%** Mt. Gox crashed was hacked, dropping Bitcoin from $260 to $50. **December 2013: -50%** China banned Bitcoin, crashing BTC’s price overnight. **Dec 2017–Dec 2018: -84%** After peaking near $20k, Bitcoin corrected below $12k as investors sold off and hacks hit Asian exchanges. **March 2020: -61%** COVID market panic crashed Bitcoin from over $10k to under $4k over a few weeks. **May 2021: -53%** After hitting $64k, Bitcoin crashed as Tesla dropped BTC payments, China cracked down, and energy concerns spread. **Nov 2022: -77%** FTX collapsed amid fraud by Sam Bankman-Fried (SBF), triggering a massive crypto sell-off and Bitcoin dropped to $15k. Keep in mind that major corrections of 20%, 30%, 40% didn’t even make the list.

KharKhas

This reminds me of the FTX days. 

arioch376

Little to close to the FTX Super Bowl ad [https://www.youtube.com/watch?v=hWMnbJJpeZc](https://www.youtube.com/watch?v=hWMnbJJpeZc)

randomnomber2

at least he betrayed FTX, that was his original gift to the world

juhsten

This is the lazy AI ripoff of Larry David’s Super Bowl commercial, made for FTX, a company that ripped off its customers. Sam bankwomanfried would be proud.

JohnTitorAlt

The next largest donor to the Biden admin was Sam Bankman Fried. You know, FTX, the crypto exchange that stole billions of users funds?

DeusBob22

fuck, this is the same as the FTX ad that went out just before the crash. Is this a sign that we're doomed?

theansweristhebike

Why switch? If it ever does an FTX, this ~~administration~~ crime family would just use taxpayer money to bail it out. How can you lose with Binance? Can't wait for the Superbowl commercial.

ubermensch1001

I made a post on here recently basically stating that I could see the actual top go into Q1 of 2026. A lot of the crypto bros this cycle seem to really be obsessing about the 4 year cycle having a top that is within a very specific time from, I've seen it from both the halving AND from the bottom. Based on this, we would have topped by now, which I think is highly unlikely. Last cycle, we actually peaked spring of 2021, which did not invalidate the 4 year cycle. We recently had the biggest liquidation even in crypto history not too long ago, which would have been an equivalent of the COVID scare March 2020 and the collapse in the market after the collapse of FTX in November of 2022. There was heavy fear in the market, yet BTC is/was still trading above 100k. In addition to this, we have a wave of ETFs that will soon be approved, more rate cuts and the start of QE sometime in the near future. It just doesn't make much sense for us NOT to have another leg up or for us to have already topped and be in the early stages of the bear market. I think BTC has already had the vast majority of it's gains for this cycle, but I think the huge action will be with the alts, which still really haven't been doing much overall. I think the reason why people are so fearful/bearish is because they were overexposed to alts, most likely bought at incorrect moments in this cycle, while being underexposed to BTC.

coinfeeds-bot

tldr; Polymarket bettors have increased the odds of former FTX CEO Sam Bankman-Fried (SBF) receiving a pardon to 12%, following Binance CEO Changpeng Zhao's (CZ) recent pardon. SBF, convicted of fraud and conspiracy for misappropriating billions in customer funds, is serving a 25-year sentence. Comparisons have been drawn between CZ's compliance-related violations and SBF's more severe crimes. While SBF has filed an appeal, a pardon from Trump is seen as his only realistic chance for early release, though experts doubt its likelihood due to his political affiliations and the nature of his crimes. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

rsha256

FTX has more than returned investors capital with their Anthropic investment. CZ caused a bank run on them causing the mass panic. Their only wrongdoing was holding ftx tokens as backing in alameda but imo that’s an issue of the hedge fund as far as I understand it

GreedVault

wow, I didnt know that. After digging a bit, it is clear she’s really double-standard. She has so much patience with SBF. Here’s some of the news I found: [Maxine Waters Criticized for Praising SBF — Lawmaker Says 'We Appreciate That You've Been Candid'](https://news.bitcoin.com/maxine-waters-criticized-for-praising-sbf-lawmaker-says-we-appreciate-that-youve-been-candid/) [U.S. Rep. Maxine Waters Insists SBF Attend FTX Hearing on Capitol Hill](https://decrypt.co/116489/maxine-waters-insists-sbf-attend-ftx-hearing)

throwaway2676

This is unironically a good thing. CZ was politically targeted because he tanked FTX, an actual fraud ring. He was overcharged for something no one else has ever been jailed for

Misher7

She hates crypto criminels because she had to distance herself from them after SBF / FTX and now isn’t in a position to personally profit.

Appropriate-Cable732

SBF stole customer funds from FTX to cover losses and make personal and political investments, committing actual fraud to the tune of BILLIONS CZ failed to implement proper anti-money-laundering controls, resigned as CEO and pleaded guilty

CapitalIncome845

I was watching the True North podcast this morning. Jeff did a great backtest of what would happen if one borrowed money and paid it back under different scenarios, such as paying back out of capital. Even buying at the worst period ever (just prior to FTX blowup 2022), you'd still be ahead, while paying back 1% a month. That translates well to the OP's question.

Simke11

I'd argue it didn't happen much less, but they tried to hide it as much as possible. People forget all the shady dealings from last cycle which brought down Luna, Celsius, 3AC, FTX, etc when the music stopped, causing a lot of people to lose a lot of money. Now though no one is even trying hard to hide anything.