FTX

coinfeeds-bot

tldr; NBA legend Shaquille O’Neal has agreed to settle a lawsuit for $1.8 million over his endorsement of the now-defunct crypto exchange FTX. The lawsuit accused O’Neal and other celebrities of promoting FTX without proper due diligence. FTX collapsed in 2022 after its CEO, Sam Bankman-Fried, was found guilty of mishandling customer funds and defrauding investors. The settlement is pending court approval, and O’Neal is expected to pay the amount within 30 days of the settlement's effective date. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

bizaroo933

I wish they were 2024 levels, they are even lower then they were during FTX black swan

pop-1988

These are the ultimate money printing game Part of the reason FTX survived for months after becoming bankrupt was the fake asset valuation in their FTT shitcoin

timbulance

I’ll take boring over FTX like events.

Familiar_Ad_9145

They explained it back when FTX felt apart cuz everyone was waiting for Nexo to be the next, but realised they are not going anywhere. In their twitter profile you will find their exact business model which basically unfolds how all their products rely on each other. With other words credit lines are what is keeping the fine rates up and running and it is pretty sustainable.

tenor_tymir

When FTX, BlockFi, Celsius, 3 Arrows and many more …. went out of business a few years ago everyone was looking at NEXO waiting for them to fold as well but somehow they didn’t. I have no idea where the high yield is coming from but the saying usually goes that if you don’t know where it’s from, it’s very possible that you are the yield yourself.

Wise-Grapefruit-1443

I’m conflicted on this one. For a while, this exact approach worked out great for me. Went big following the 2021 correction. Went extra big in 2022 following the FTX collapse. But when the price crossed 40K, I kept waiting for another big correction, which was never big/dramatic enough for me to pull the trigger since I got spoiled buying so low. Even though I continued a modest DCA strategy, I still left money on the table in the rise up to the current highs

MatchboxVader22

I can’t believe there are still people out here saying that “leaving your shit on an exchange is totally fine” after what happened to FTX, Celsius and Voyager. Just wild 😂.

Squirrel_McNutz

Nah dude. This is what happens every time. Luna, FTX, Russia&Ukraine, Israël… you get a dump, people panic, and then within a short time it rockets back up to where it was. Do the opposite of what your emotions say. These are the buying moments.

polarfetus

Blockfi, FTX and Celsius got caught with their pants down as they were rehypothecating an asset you can't print out of thin air. Coinbase is the OG exchange and is publicly traded, so it is regulated. I wouldn't put Coinbase and those others in the same bucket (though I know they're not perfect either). They are also the custodian for most of the ETFs. I'd say they have a good level of institutional trust at this point. That being said, NYKNYC. But you can earn on your cc spend and then self custody like any other Bitcoin (unless they restrict that)

retroapropos

Crypto doesn't usually perform well with raging geopolitical tensions. The last crash was FTX, terraluna, and Ukraine Russia all happening at the same time.

MatchboxVader22

While Coinbase is one of the better exchanges, you never know when you another FTX or Celsius moment will happen. I’d even get a hot wallet like BlueWallet before leaving my bitcoin on Coinbase. I suggest looking into Trezor and ordering online from their site, and in the meantime, moving your bitcoin to BlueWallet while you wait for the cold wallet to arrive. I don’t trust leaving any amount more than .005 on an exchange at all.

breakboyzz

A 3rd party company (FTX) and a trustless protocol that can be audited with provable security wrapping your bitcoin are not the same thing.

OnlyBTCs

Shady middlemen have always existed for every asset. It was always a risk and can be entirely prevented with proper research, especially today where many quality exchanges like River or even Kraken have proof of reserves to reassure investors after disasters like FTX. Either way, even bottom tier exchanges allow you to withdraw your bitcoin to an external wallet. Self custody is the only true guarantee you’ll ever get for your bitcoin. On your spending comment, I’ll do my best to ignore the BCash-flavored FUD and get straight to the point: Bitcoin is still in its adoption phase, therefore any economist worth their salt will tell you that selling or exchanging bitcoin at the current time would not be the wisest decision. We are seeing more and more orange-pilled every day and if you ask anyone from your family at thanksgiving dinner to your classmates at college what they think of crypto, it is likely negative. Until this common narrative shifts in favor of BTC (which I believe it will once Bitcoin surpasses and stays above Gold in market cap for over a year) 90% of the price growth will be because of further adoption and education, not the inflation of fiat. After that, I will start casually spending in BTC, likely only to replace it though, and this practice can be done today. If you don’t want to or don’t believe in Bitcoin as a store of value, that’s on you. Satoshi understood the value of slow adoption and slow development as it allowed for proper and fair distribution of the coins while granting a more secure development of the blockchain and Bitcoin’s code. Imagine if the supply bug happened today? Trust would’ve been shattered for a long time. So no, don’t think Satoshi would be disappointed. These critiques you have listed are user error. “if you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

GreedVault

i have got to give credit for TRX resilience. Think about this: LUNA, FTX and the companies behind them almost collapsed, yet TRX and Justin Sun are still standing. No jail time either, while even CZ ended up behind bars for 4 mths. Throwing a few bucks into it might be fine, but personally, I wouldnt invest a single cent, I just don’t like them as a whole.

intelw1zard

imo, Solana was only kept alive due to the massive amounts of funds from FTX and Alameda.

wotboisRevenge

Here’s a conspiracy theory I pulled straight from my ass. $110k is so hard to break because it would’ve been the 2021 All time high if FTX wasn’t manipulating with paper bitcoin.

Dettol-tasting-menu

I get that. But you can claim ownership all day long but if the key holder won’t budge, or ran off, or got hacked, the claim is pretty useless. See FTX or BlockFi. This is especially true for Bitcoin which is unprintable. So OP isn’t all wrong, in a certain strict sense, MSTR owns zilch. Legal ownership notwithstanding.

RastaBooties

FTX flashbacks, definitely don't hold exchange coins, they could crash in an instant due to any event affecting the exchange (such as a hack), plus the coins are centralized and manipulated.

KingofTheTorrentine

do you know why? FTX and Alameda were the one's pumping all the altcoins last bullrun.

Zanar2002

Who expects this? I most certainly don't expect it to drop below $100,000 prior to the 2028 halving. There is no agreement across the board about anything, quite frankly. The power law says $200k+ by April 2028 and so far, and unlike all the punters and prognosticators on CNBC, the power law has been accurate almost to the day. Just to give you an idea, if you'd run the PL model in early 2019 (or even immediately after FTX collapsed in 2022, it doesn't matter), it would have predicted a price of around $100k for Bitcoin today June 12, 2025. We're at $109k.

Zanar2002

You think he's operating fraudulently like FTX was? I can see them having to sell some to cover the converts and the STRK dividends, but BTC would have to drop maybe 80% and stay there for a couple of years for that to happen. So, MSTR selling would tank the market, but for them to be forced to sell the market would have to tank first, meaning Saylor is unlikely to be the catalyst. Unless he's running a ponzi or something like that...which, for the love of God I hope he isn't! lol

critiqueextension

Ethereum's recent 8% surge is partly driven by the Pectra upgrade enhancing scalability and staking, which has contributed to increased investor confidence and technical momentum. However, some analysts warn that despite bullish signals, Ethereum faces resistance around $3,000 and potential volatility due to macroeconomic factors. \n\nSources: [CoinCentral](https://coincentral.com/ethereum-eth-price-breaks-above-2700-as-staking-hits-record-high/), [Investing Haven](https://investinghaven.com/crypto-blockchain/coins/ethereum-blazes-past-resistance-could-eth-hit-3500-before-june/) * [Ether Price Volatility Relative to Bitcoin Hits Highest Since FTX Crash](https://www.coindesk.com/markets/2025/06/10/ether-more-favored-by-traders-as-volatility-against-bitcoin-hits-highest-since-ftx-crash) * [ETH Surges 8%: 'You Haven't Seen What Ethereum Is Capable Of In ...](https://www.benzinga.com/crypto/cryptocurrency/25/06/45860625/eth-surges-8-you-havent-seen-what-ethereum-is-capable-of-in-this-cycle-analyst-warns) * [ETH jumps 8% on staking milestone and ETF Inflow spike, reclaims ...](https://crypto.news/eth-jumps-8-on-staking-milestone-and-etf-inflow-spike-reclaims-2700/) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)

Full_Possibility7983

FTX

fairlyaveragetrader

I actually traded a small portion of that almost perfectly. Bought . 25btc when FTX was blowing up between 17 and $19,000, sold it between 95 and 108 in little 0.05 pieces I think the hardest one this time was not buying FTX or selling the first run up. The hard one this time was that pull back to the low 70s when it looked like trade policy was melting down. There was this real risk before the 90-day pause that you could have woke up to a 20% sell-off. Never happened that was the ultimate cyclical shake out in a bull stage. I would say it's similar in severity to what we went through in 2021 with that first run up and then it looked like the bull market was over only to come back that fall and winter.

SatoshiBlockamoto

A lot of the criticism of this year's conference was a ton of shitcoin shilling. FTX and Celsius and BitConnect and all the other scams certainly didn't bring "progress to the space."

DarKcS

But we all know USDT started off as crooks, only passed audits by swapping their holdings between their exchange at the time which could have caused a major FTX collapse but people were largely unaware of the inability of their assets not being backed at all times etc etc. Eventually they obviously did become profitable and lean towards legit, but there's a very obvious reason they don't want anyone going back and looking at their books. I'm not an advocate for that, as USDT becoming delisted as a worse case scenario would definitely cause a major short term crash.

timmylol

In hindsight of course it seems silly not to buy at that level at that time. Even tho most people at the time expected BTC to eventually recover, the sentiment was that more major exchanges would follow FTX’s collapse and cause BTC to go even lower.

steelchairframe

And this is the time to buy. It'll be just like the FTX bottom. We needed a reason for mass capitulation and I believe MSTR may just be that in the future.

NOneHOne

I was lucky to have dragged my feet enough to have escaped Celius and FTX, both of whom I had spent a great deal of my time dealing with both online and various industry conferences. I just knew that it was too good to be true and didn't trust the what the higher-ups in both companies were telling me - it just didn't add up. So I really got lucky but what Strike is doing is a different animal because with Strike there is no rehypothecation of funds. At some point I do plan on giving this a try, albeit with very small amounts just to see how things go.

Numerous_Ruin_4947

Looks like Mr. Wynn was connected to FTX. Is he somehow related to Steve Wynn? Steve changed his OG name though, so not sure. [https://learn.backpack.exchange/articles/who-is-james-wynn-the-high-leverage-trader-behind-pepes-25m-moonshot](https://learn.backpack.exchange/articles/who-is-james-wynn-the-high-leverage-trader-behind-pepes-25m-moonshot) >**In 2020, Wynn received 6,000 USD in ETH from Alameda Research, the now-defunct trading firm associated with Sam Bankman-Fried. This small allocation became the foundation of his crypto empire, eventually leading to multimillion-dollar trades.**

00_Jose_Maria_00

If you run the numbers, you would understand that 3% is not low. 3% LTV in one year, means locking up 6% of your stash. You give up custody, could lose it like with FTX. But that's not the greatest risk. If Bitcoin underperforms during that year, or goes down, your LTV will explode when you need to rollover this loan. If Bitcoin drops by only 50%, your new LTV will be close to 9%. That means you are locking up close to 20% of your whole stash and giving up custody. And this compounds, meaning that it will affect your LTV moving forward, permanently, even if Bitcoin recovers and goes up in price. Again, this is not for the uninitiated. Most people should just keep a job and stack sats. I do NOT recommend this. You really, really need to know what you are doing, or it WILL part you from your Bitcoin.

coinfeeds-bot

tldr; Eric Trump announced a partnership between World Liberty Financial (WLFI) and the TRUMP meme coin, leading to a 7% price surge. WLFI plans to acquire a substantial position in TRUMP for its Long-Term Treasury. Critics raised ethical concerns, comparing the deal to FTX's Alameda Research, amid suspicions of insider trading and manipulation. Regulatory uncertainty persists, with the SEC classifying TRUMP as a non-security and the CFTC as a commodity. The collaboration has sparked both investor enthusiasm and skepticism. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

MrMpeg

Also, normally, it didn't drop further than the previous ATH.. and this also might have been true for the last one, wouldn't it have been for FTX. Let's see. If i feel euphoria coming up, I'll definitely take some profits. Otherwise, I'm in danger of being forced to sell during a bearmarket.

Solana_Maximalist

Celcius, FTX ? You guys forget so easily ?

nunyabuis21mill

No, if anyone says other wise they are taking your bitcoin doing some risky shit with it and hoping to capture value and then pay you a portion of that value. Look at BlockFi, Celsius, FTX. All garbage all bankrupt and jail for some of them.

Solana_Maximalist

For me eoy 2022 I bought bitcoin and solana after FTX collapse. I’m pro decentralisation where wallets are not concentrated. I don’t participate in pumpfun projects or memes personally. But is its damn disgusting to see celebrities and presidents scamming their supporters by rugging them. $trump $Melania born from pumpfun is a disgrace tbh. Pure og memes like dogecoin or shiba/Pepe (eth) ; Bonk(sol) as a community memes where people throw a few bucks at it and be part of a community ain’t so bad . But not these straight up rug pulls. Their lifespan is so short before a massive rug. It’s not ethical.

aaj094

Whatever MSTR is doing is a matter for their shareholders. You cannot call MSTR as being something special. How can you ever stop an entity doing what it wants with its own money or money that it raised. That's very different from conducting fraud like FTX and celsius.

Additional-Menu-8764

Yeah, I've been in the know about Bitcoin since 2013-2014, and since the beginning, i thought everyone knew NYKNYC, but FTX was another huge wake-up call of how clueless most people are.

plebbtc

Yeah, until you move it on the chain it is just a ledger move for any of the exchanges. This is on of the reasons people preach moving you Sats of the exchanges. SBF would have had a harder time doing what FTX did if collectively people had moved to cold storage.

ddyvas

I don't trust them either especially after FTX case. But I did a little more research, looks like Coinbase has some dedicated sub-company for custodying Bitcoin. So it may be better than we thought, but I am currently down for FBTC

Psychic_Man

We would've hit the stock-to-flow target of $100k last cycle if it wasnt for all the exchange implosions like FTX and Celsius and Blockfi. I expect we'll be pleasantly surprised if there are no more black swans this cycle.

vnielz

Yep. selected them very carefully. Havent checked in a while though. 1. FTX 2. Mt. Gox 3. QuadrigaCX 4. Celsius Network 5. BlockFi 6. Voyager Digital 7. Thodex 8. Cryptopia 9. BKEX 10. ACX / Blockchain Global 11. FCoin 12. ShapeShift 13. LocalBitcoins 14. qTrade

Limp-Creme4293

Fundamentally, I used to agree with you, but now, the exact opposite is transpiring. Very rapidly, Bitcoin is becoming centralized, beyond any of the original cypherpunk’s wildest dreams. Yes, the original value still exists, via p2p txns, but its attack vectors are easily exploited. Institutional adoption’s not a positive: Short-term, chart price go up = happy. Over a longer time horizon, the price painstakingly crawls to break resistance, due to institutions taking profit, constantly shaking out inexperienced newcomers/longs, etc. — this drives the price down, for further institutional consolidation. Regardless of your personal opinions about his conviction, you have to realize that Michael Saylor, will hurt Bitcoin more than any of the previous debacles combined — FTX, Mt. Gox, etc. — from which it may never recover. Even if MSTR doesn’t completely explode, who’s to say that he won’t sell to nation-states or sovereign wealth funds OTC?

Joechit

If you think the big-name exchanges are foolproof, just remember FTX, Mt. Gox, QuadrigaCX, and others — all of them looked legit before they collapsed or scammed people out of millions. No exchange is bulletproof. The next time someone posts a warning to help others, don’t act like some all-knowing crypto cunt flexing in the comments. Just take in the information and move the hell on. Because if everyone stays silent out of fear of being mocked or called stupid, then the next guy might get burned — and lose hundreds or even thousands of dollars. We’re supposed to be a community here, not a firing squad. Stay sharp and stay human.”

filbo132

Get a cold wallet eventually is my advice. Last thing you want is to leave it in an exchange like FTX and then see your crypto disappear.

mechabased

Probably the same. FTX loved its shitcoins with a burning passion and treated them as tokens and securities.

Solana_Maximalist

Where is the centralisation ? After FTX collapse retail is the one that bought up cheap Solana.

J0nx77

I tried to tell them not to go PoS. They wouldn't listen... I'm pretty sure the impetus for the crash of the entire crypto market was when ETH went PoS. Some may argue that it was FTX etc but my firm belief is that ETH killed the crypto market.

pakovm

I see that this post's comment section has the same mental illness we all had last bull market right before the FTX blowup.

halt_spell

> What is the perceived advantage of investing in one of these over BTC? There isn't one to you. The goal of these businesses is to absorb BTC demand without touching the supply. People didn't make the connection with how flat the market was while FTX was in it's heyday. The moment they crashed the market started moving again. It's completely obvious these companies take customers money and then never buy the Bitcoin.

ignominiousDog

Where would BTC be today if Sam Bankman Fried was an ethical and responsible CEO of FTX?

Zombie4141

No. It’s like saying you won’t STORE your money on Coinbase because of what happened to FTX. If people took custody of their Bitcoin and crypto, FTX and Celsius wouldn’t have affected anybody. It’s the people who are okay with letting others hold their bitcoin that always get burned and come here and complain when they get screwed over.

Ill_Shape7056

That’s like saying you won’t buy crypto from Coinbase because of what happened to FTX. I don’t think holding your Bitcoin and getting a loan off of it will ever be a thing because you could sell it illegally. Just don’t see it ever happening without it being held by a bank or exchange.

fairlyaveragetrader

Yeah, your keys, your Bitcoin, not your keys not your Bitcoin. I would imagine a lot of us hear his voice when that is said I never got involved with Celsius or FTX or any of those and that sentence is pretty much why. He did a lot of good for the industry.

onlyherefortheclout

Yep, that's the big question indeed. They weathered Celsius and Voyager and FTX, and have Billions in outstanding loans. But it's a risk no doubt. They custody with the same institutions used by governments and major exchanges, and to be honest I would rather have them custody it than risk getting hacked with my own keys. Trust me, i thought very long and hard before I jumped in. I also spoke with the founder. But it's not for everyone. And I'm not shilling them.

A1JX52rentner

Tether, Bitfinex, Twenty One Capital, SoftBank, and Cantor Fitzgerald all tangled up in one venture? This is the sketchiest crypto soup I’ve seen since FTX ran a multibillion-dollar empire on QuickBooks... in beach shorts.

Different-Hyena-8724

So what if you got in early? Have a really good job that allowed you to not really care about the stack or selling the stack? But knew enough to throw it on a hardware wallet.... And just never had enough time to get involved with FTX or altcoins? I don't really think this is the fairest assessment.

adeo54331

Like 😂 38m will move BTC 2% you think black rock can’t just take what they want? 😂 I can’t believe people still play futures after the FTX debacle and realising they all have god mode… What was it Hayes said? “Busy the stops on the plebs, I need a new lambo? “

Result_Known

Thanks for the feedback! I agree - store of value is priority. And counter-party risk is a huge worry (I personally lost on Celsius and FTX). This would be a regional, registered, licensed, and insured business. It would also \*not\* lend your crypto out. With this model you'd be locking up the bitty (yes, risk, and this is valid). However you wouldn't necessarily be drawing down on it, unless you wanted to. So you'd still be able to pay monthly repayments in fiat, thus keeping 100% of your bitcoin.

Solana_Maximalist

Yep agree But telling people to Mortage homes to buy their bags when btc is above 100k is plain evil. Why didn’t suits tell retail to Mortage their homes when btc was in bear market ? I was buying up like mad when btc was below 2017 highs in eoy 2022, and solana after FTX collapse. I wouldn’t tell people to gamble everything now. Stay safe and invest what you can afford to lose. ☮️

jwz9904

i had some FTT for free trades on FTX.

Cowboy_Auctioneer

Chainlink is a defi protocol and without it, the entire crypto industry is set back several years if not a decade with how many projects rely on it. On top of that, SWIFT is inserting it into its own infrastructure along with the DTCC. The market hasn’t moved on, it’s just distracted. Also I think a lot of people underestimate how big a hit FTX was to retail investors. Hence why Bitcoin has been doing great as apposed to alts

Solana_Maximalist

Sad to see what crypto has degenerated into tbh. I bought a lot of solana after FTX collapse but I didn’t participate in all the Pumpfun crap. The way the whales abuse retail is sickening. We didn’t have Mev bots back in the day in 2017, 2021. There was much lesser rugs in altseason 2021. Bitcoin was supposed to be the little peoples money to fight against the establishment but it seems its ethos is lost too. It’s become really too pvp this cycle. It’s a shame tbh. I have some solana and btc left after trimming positions eoy last year. Just going to hodl, and let them be but honestly I hate people trying to hype up retail to buy stuff now at frothy valuations.

crooks4hire

FTX got me through Gemini. Lesson learned…I’m hardline NYKNYC now.

Lopsided_Life_6054

Probably not with the constant bid from all the companies adopting a BTC treasury strategy. But I could see the competitive accumulation from these players leading to very risky, over levered positions and causing a Celsius, block-fi, FTX style sell off.

Ok-Occasion2440

FTX, Covid, Joe Biden….. now I sound like kkkaroline

buybtcforgodsake

The narrative for next bear market dip could be MSTR sell bitcoin to cover debt, then you will see a nice dip like the FTX crash and like in 2017 from 6K to 3K, this could mean even below 50K

criptomusico

I like the good vibes of the guy, but there's no way I would put my BTC on their hands, always remember what happened with MtGox, Celsius, FTX, etc.

Harucifer

Yeah, he was playing supporting Democrats while Biden was in power. But the truth is different when you look deeper: * [**Sam Bankman-Fried Floated ‘Coming Out’ as a Republican on Tucker Carlson** After FTX Collapse SBF's brainstorming notes included lines like **"Come out against the woke agenda."**](https://gizmodo.com/sbf-floated-coming-out-republican-tucker-carlson-1851340731) (March 15, 2024) * [**Sam Bankman-Fried Wants a Trump Pardon**. Sadly, There’s a Good Chance He’ll Get It. The disgraced **crypto fraudster appeared on Tucker Carlson’s show** to make his case.](https://slate.com/technology/2025/03/sam-bankman-fried-ftx-tucker-carlson-trump-pardon-crypto.html) (March 10, 2025) * [**SBF claims he gave tens of millions in untraceable donations to Republicans: “All my Republican donations were dark,”** he said, referring to political donations that are not publicly disclosed in FEC filings. ](https://time.com/6241262/sam-bankman-fried-political-donations/)(December 14, 2022)

levelup1by1

Nope - that’s was due to FTX imploding, and institutional demand wasn’t there then. Nowadays people are way smarter about self custody

Arbiter_89

Companies won't loan you money unless they have custody of your btc. How likely do you think it is to have another Celcius, FTX, or Gemini?

praguepride

The flaw with this is that it doesn't factor in any of the security issues. Yes, if you were able to perfectly hold a single BTC for the last 20 years the return was ridiculous. The gamble isn't the price, the gamble is the security given how rampant hacking and fraud is in the community. Where are those 10,000x returns for the people that lost their entire portfolios in FTX or any number of other exchange collapses? You don't see security like this factored into stocks because those are protected and secured and insured etc. Prices goes up, prices goes down, but you don't just wake up and find someone has stolen all of your stocks and your portfolio isn't just zero but empty.

Ok_Relationship_1753

A crash and deep bear market would hurt fiat maximalists and short-term speculators, but most Bitcoiners especially those who truly understand Bitcoin would actually be glad, because it would give them the chance to stack cheap sats. Just like a few years ago after the FTX collapse those who stacked then now have 5x more purchasing power. Every crash is actually an opportunity.

jackofnac

He’s not legendary. He just has a lot of money (that probably belonged to FTX users) that he won in the casino via Alameda Research.

Archophob

my son gave me a few hundred from his apprenticeship money, right after the FTX crash. It equaled nearly 0.02 BTC. Just last week he asked me to sell some so he has spare money for car repairs. He still got 0.012 on my wallet. There was no on-chain transaction, you don't need to use a trustless system if you share your wallet with someone you trust 100%.

coinfeeds-bot

tldr; FTX has initiated its second round of creditor repayments, distributing over $5 billion to approved claimants, following an earlier payout of $1.9 billion. The process targets claims in various classes, with payouts ranging from 54% to 120% depending on classification. Analysts predict the liquidity injection could boost altcoin activity. FTX has warned users about phishing scams linked to the distribution process. BitGo and Kraken are managing the disbursements, with completion expected within three business days. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

chrisdjentleman

That would have been me if it wasn’t for all of my crypto being in FTX…. I literally bought at the bottom of the 2022 bear market and got robbed by SBF

Ok_Relationship_1753

When you see the word *"crypto"*, it should be a red flag a sign to stay away from such an exchange. Bitcoin is not "crypto." If an exchange offers so-called "crypto" to its users, be cautious. Most of these tokens are scams designed so that the founders and venture capitalists can pump the price and fill their bags with worthless tokens they created at the expense of naive retail investors. If an exchange offers a wide array of "crypto" assets, it's very likely they are prone to various scams and should not be trusted easily. Crypto" exchanges that custody user funds are often prone to manipulation, abuse, and a lack of transparency. When things go wrong, it can easily lead to a bank run a situation where many users try to withdraw their funds at the same time, but the exchange simply doesn't have them.example of this just a few years ago with FTX. They might show you numbers on a screen “you have 1 BTC” but behind the scenes, that Bitcoin may not even exist. It’s like a bank telling you there’s money in your account, while the vault is actually empty. When too many people attempt to withdraw the bank run begins. If an exchange has custody of your Bitcoin, it can lend it out to third parties or even bet against you a practice known as short selling. That means the exchange could have a financial incentive for Bitcoin’s price to drop, while you take the losses. Because they have full visibility into user activity, crypto exchanges can also trade against their own customers, manipulate prices, halt trading at critical moments, or spread false information to protect or boost their own position.That's why you should stick to Bitcoin-only exchanges the ones that encourage self-custody and ultimately, only self-custody is truly safe.

critiqueextension

The series 'The Altruists' is based on the rise and fall of Sam Bankman-Fried and Caroline Ellison, with Netflix producing an eight-episode limited series from Higher Ground Productions, which is known for its focus on significant cultural and political stories. This dramatization is likely to provide a nuanced portrayal of the FTX collapse, but it remains a dramatized account rather than a verified documentary. * [Julia Garner and Anthony Boyle to Star in Limited Series The Altruists](https://www.netflix.com/tudum/articles/the-altruists-cast-release-date-news) * [Julia Garner & Anthony Boyle To Star In Sam Bankman-Fried Show](https://deadline.com/2025/05/julia-garner-anthony-boyle-sam-bankman-fried-show-netflix-1236413563/) * [FTX Limited Series a Go at Netflix With Julia Garner, Anthony Boyle ...](https://www.hollywoodreporter.com/tv/tv-news/sam-bankman-fried-drama-series-netflix-1236232871/) ^(This is a bot made by [Critique AI](https://critique-labs.ai). If you want vetted information like this on all content you browse, [download our extension](https://critiquebrowser.app).)

SwagosaurusRekts

Honestly, at the margins you and I operate at, I think whatever platform makes you comfortable and keeps you stacking BTC is the one to go with. I personally don't like to keep too much on any exchange anymore and I move it to wallet every so often. I got burned on an exchange going down after the whole FTX collapse. I didn't lose too much, but enough to not trust any exchange long term.

Cptn_BenjaminWillard

There's probably still orgies and cocaine at FTX headquarters. The only difference is that it's now the insolvency accountants.

Efficient_Culture569

So with fear of potentially losing some money on Bitcoin, you decide to lose some money on FTSE ETF? ( You're afraid of getting shot, so you shot yourself on the foot). If you believe you have too much bitcoin, your not convinced enough, and that's okay. You need to have the right amount that you can sleep at night. As many people already said, Bitcoin doesn't care about FTX, MSTR or ETFs... It will carry on regardless. You just need to take the paper reduction in profit or loss and potentially accumulate more. Think how many times bitcoin has dropped 60/70% and recovered and got stronger than before? The hardest part is convincing your wife that it'll be okay really 🤣 but you need to believe in it.

21Moto

Big mistake. Sounds like you don’t know enough about Bitcoin. It didn’t take a decade to recover from FTX. Folks that didn’t leave their coins on the exchange were fine. Selling half your stack doesn’t help your kids. You just put that $45,500 back in the lap of inflation and instantly lost however much you’ll end up paying in capital gains tax. Sorry for the tough love but someone had to say it. Buy that Bitcoin back and get to 1 BTC. That’s the best thing you can leave your kids.

rasey

Bitcoin had an FTX moment. Look at it. It's fucking thriving.

Dear_Technology_8029

Yes, like FTX was doing..!!

Mr_Ander5on

What if it has an FTX moment like it’s already had and hits all time highs shortly after over and over? Lol Diversification is for people who don’t believe in a single thing and you clearly don’t believe in Bitcoin so it’s probably a better strategy for you. You want to be able to sleep at night. How many successful and rich people have hit bottom along the way? Probably most of the self made ones.

Satoshi-Believer

Iduno man, your choice your money. I just believe in Bitcoin and i personally wish i could accumulate more and more and watch FTX again to accumulate way more and definitely bitcoin will rebound again cause bitcoin is the digital gold.

bizaroo933

Time to be positive. Tomorrow FTX will distribute 5 billion dollar to their cliënts. 100% sure a lot of that money will flow in bitcoin/altcoins. Tomorrow we should see a green day unless that dog called Trump will do some stupid shit again.

MichaelAischmann

I wonder what percentage of FTX customers is permanently done with crypto & how many will actually use the funds to buy more crypto.

CryptographerNo9254

FTX to distribute over $5 billion in stablecoins to creditors to probably tomorrow.

PhantomJaguar

Bitcoin isn’t a traditional investment. If you buy 1 BTC and hold it for 10 years, you’ll still have 1 BTC. It doesn’t earn interest, pay dividends, or generate cash flow. It doesn’t grow in nominal terms. The way it grows is through purchasing power. In contrast, stocks and businesses are true investments. If you buy shares worth 1 BTC and hold them for 10 years, you could end up with a lot more than 1 BTC. But there’s also the risk of losing your investment if the company performs poorly or fails. The fundamental problem is that Bitcoin is growing at such a phenomenal rate in **purchasing power** that the paltry nominal returns aren't worth the risk. History is littered with examples of why that's a terrible idea (MtGox, Voyager, BlockFi, FTX, etc.).

Satoshislostkey

Fuck this sleeze ball. He wants to steal from us just like Celsius, FTX, Mt.Gox and all the rest. Do not listen to these scamming financial types. They hate that they can't borrow your Bitcoin and lend it out other people for a fee.

Young_Mooselord22

I grew up in a blue household. My grandad was a midwest blue collar carpenter/welder and my Dad followed in his footsteps. I remember voting for Obama twice and how proud I was as an American to have voted in those elections. Somewhere around the DNC completely fucking over Bernie Sanders, I lost faith in the party. I was never pro-Trump, but I was so discouraged that I just didn't care anymore and at least he was entertaining. There was a certain part of me that just wanted to watch the Dems burn for a little bit. After their recent hackjob with Harris, I feel the same. They have lost their way and are getting everything they deserve. Understanding Bitcoin, and living through the Biden administration was one of the worst experiences you can possibly have. Just a daily onslaught of lies, PR spins, and politics, all while hamstringing the industry behind closed doors as much they possible. Conflating Bitcoin with crypto during this time was also a shitstorm waiting to happen with the unraveling of FTX, 3 Arrows, Grayscale, etc, etc, etc ... Sats in cold storage, don't lend it out, be who you can afford to be. It's so easy that very few people can do it. So to answer your question, what happened during Covid was the biggest ransacking in the history of our country. They created 40% of all dollars in 2019-2020. They proceeded to lie about inflation and completely mess up the refinancing of our long term debt during the low IR environment. The problem is getting worse, and no party is willing to admit this, or to take steps to start addressing it. We have $36.9T in debt, unfunded liabilities exceed $230T. These aren't even real numbers anymore and our generation is going to be left holding this unsurmountable bag. Not a single politician gives af, the can will continue to get kicked until it blows up. Bitcoin is for the enemy, Bitcoin is for everyone.

web-programmer

I have a cold wallet. With FTX moment I meant a scenarios where a major playor in the ecosystem collapsing and tanking the asset/commodity with that. FTX - Solana could be similar price impact to MSTR - Bitcoin if MSTR happens to over extend and drops massively when Bitcoin drops.

iamwernersmit

The value of MSTR lies in BTC. Not vice versa. BTC cannot have an FTX moment. It is neither an exchange nor is it controlled by any one person (or group). To paraphrase, beneath that orange logo is more than 1s and 0s. Beneath that orange logo there is an idea. And ideas are bulletproof.

coinfeeds-bot

tldr; FTX plans to distribute over $5 billion to creditors this Friday, marking the second major payout in its cryptocurrency bankruptcy recovery. Creditors will receive between 54% and 120% of their claims based on classifications under the Chapter 11 plan. Kraken and BitGo will facilitate the payout. The estate holds $12.6 billion, with potential recovery reaching $16.5 billion. Additional distributions are expected through 2025, aiming to recover $14-$16 billion in total, showcasing accountability in the crypto industry. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Grunblau

What coins and what network? Since it is FTX… probably USDC on Solana.

uncapchad

hmm, FTX is distributing over $5b in stablecoins to creditors this Friday. Wonder where they will end up - fiat, alts, BTC?

pop-1988

There has never been a reliable proof of reserve. The integrity of the Bitcoin blockchain only proves that no coin was spent more than once, and no value was created except by proof of work. This can not be used to prove that some corporation using an external custody service owns a specific list of coins on the blockchain. MSTR does not own any coins on the Bitcoin blockchain When FTX went into bankruptcy, exchanges rushed to publish proofs of reserve. Immediately, all those "proofs" were disproved. After a week, the service provider who was calculating these proofs on behalf of exchanges announced that they're no longer doing that work, because it's impossible to provide reliable proofs