FTX

EthanDavis63

Even 7-time Super Bowl champion Tom Brady couldn't escape the FTX breakdown. If BTC doesn't hit $1M soon, we're all joining him in that cardboard box.

LearnBitcoinCom

This is better than the structure I had, so I'm taking it. Labels in the first half, and then a second half that's just "it can't come back from this" with the date and the thing: Mt. Gox in 2014, the China mining ban in 2021, the 2010 overflow bug, the 2013 chain split, the 2018 inflation bug, FTX. Same conclusion every time, different reason every time, which is the part worth showing. Can I credit you by handle for the idea?

Left_Entrepreneur918

24k, I made my first purchase in summer 2020 about 10k from the sale of my swords. Then waited on my check from the 401k cash out through September and caught it at 16k. Watching it go from 10k to 16k waiting on that damn check to come, deposit, then clear was hell. Then I DCA all until 2022, I got an inheritance of 50k. 20k went to new floors, 5k a new gas range and water heater and the rest went to BTC, I bought the day after FTX. I was sweating it though because I had watched it all go to 69k then crash down to 15,500. Everyone was saying wait to 10k but I thought old me would have panic sold so I should panic buy. Then DCA until 2024 then lost my job. I haven’t bought anything since.

Kitchen_Net_GME

And the FTX collapse single handily prolonged the 2021-2022 by 45-60 days So it really went 406 days, 362 days, 300 days, now 267 days. Clear trend imo

HatemodeNJ

Or even the last five years. They have to do back to growth that will only happen once and never again. It should of died when FTX collapsed, but people want to get rich quick and don't realize they will never see thode hyper batshit crazy growth again. I also don't think people realize, Bitcoin is more 'legitimized' than ever and has more access to the general public through ETF's and is still just not doing much. Could it hit 125 again? Maybe, but a lot of people that put in over a hundred are going to take their money back out soon as they break even. A lot of the new investors are at a loss and would the done better in almost any other investment. Why continue to take the risks. So even if it does hit 125K again, where is it gonna go from there? I personally don't see how it's gonna double triple or go even higher anytime soon without something extremely significant happening. I'm not saying you cannot make money with it though. It's not like you can't lose money in the stock market, but crypto comes with far higher risks that no longer are outweighed by the reward.

TheRabbitHole-512

Did Binance do an FTX ?

user_name_checks_out

> This exchange had non of those issues in the 15 years of its existance *existence Gox, Quadriga, FTX, etc. - they were all okay until they weren't.

sQtWLgK

As they say, *not your keys, nacho cheese*. You can't track past the custody provider, which in most cases is Coinbase Custody. They pinky-promise not to hypothecate, but that is not externally verifiable For instance, and as far as history goes, FTX US was also regulated and properly contractually segregated and bankruptcy remote (from FTX, Alameda, etc.), but the reality is that the coins were no longer there when shit hit the fan.

Ok_Subject_2447

there’s the folks who started shoveling their net worth into Bitcoin when FTX was all over Fox News

Queasy-Ride4291

I actually have a legit answer to this question. It stems from human psychology and how our species evolved to survive. Humans evolved to understand cause and effect, a subconscious understanding of Newton’s third law. Every action has an equal and opposite reaction. If a saber-toothed tiger is chasing you, it will not stop until something stops it. Like a spear. It’s the same reason gods exist, to explain the inexplicable. We used to have many gods, that explained the wind, the sun, the moon, etc. Once science explained those away, we were left with one god to explain the rest. This brings me to markets. Stocks, bonds, commodities, sports, tulips, doesn’t matter. A market is a market. When something is trading in one direction, humans believe that only an outside event can cause that trajectory to change. Cause and effect. The flaw is that markets don’t work like that. The markets are the collective will of all participants. The market moves without regard to what’s happening around it. Sure, a news event can cause some volatility, but it’s not going to change the collective will of the market as a whole. The latest group to be burned by this phenomenon was Bitcoin bears. Price was moving down and bear the bottom several news events occurred that made them believe price was dropping even further, since the effect of something like cold card wallet attacks is negative, therefore that only adds to the trend. Well, once again, as can be related thousands of times over thousands of years, that line of thinking is incorrect. The market does not move “reacting” to outside events. If anything, outside events are reflected in the market. The cold card hack was at the bottom of a market of some degree. The “FTX crash” at the bottom of a market after a sustained downtrend. The beginnings of World War II, you guessed it, the bottom of a down trend. Same thing happens to the upside. A “pro crypto” president gets elected in the US, etc. The news events that happen are reflected by the trend that is already occurring in the market. Of course this happens at varying degrees. So, of course price can reverse for BTC, without a “reason.” It has before and will continue to do so. Because the laws of the market are more akin to quantum physics rather than Newtonian physics. Humans just aren’t hard wired to understand it since it goes against our very survival instincts. Anyway, that’s the answer to your question. 

Peturio

You (BTC) have been the benchmark all along, so here is your card. One year forward from current volatility with no trend assumed: worst 5% of years lose 51% or more, one in five paths goes through a 50% drawdown, one in a hundred through 70%, median path bottoms at −38%, one in twenty ends below half, one in twenty doubles. Replays on 100% BTC: the Oct 2025 to Jul 2026 bear −51%, the 10 Oct flash crash −7% in a day, the June cascade −15%, the FTX week −23%.

Peturio

ZEC is the whole story here. It runs at about 150% annual volatility, more than twice SOL, so with 48% of the money it carries 72% of the risk and the four coins behave like 1.8 independent bets rather than four. The upside of that is real. In a one year simulation from current volatility and correlations with no trend assumed, 30% of paths double and the top 5% end above 7x. The other side is that the worst 5% lose 71% or more (BTC alone, 51%), five paths in six go through a 50% drawdown at some point, and one in three goes through 70%. This mix does not do moderate. Two things about ZEC the weights don't show. Over the last twelve months its correlation to SOL, NEAR and HYPE was 0.35 to 0.45, low for crypto, which is why the diversification ratio is a decent 1.19. Over the last 90 days that has flipped. ZEC's beta to BTC is now about 1.9, the highest in the book, so a 30% BTC drop today maps to ZEC −56%, NEAR −40%, HYPE −38%, SOL −35%, and the book −46%. The coin that diversified you last year is the one most sensitive to BTC right now. Replays on today's weights. The October 2025 to July 2026 bear, which cost BTC 51%, would have made this mix +47%, entirely because ZEC rose 152% inside that window while SOL fell 66% and NEAR 39%. The path still went to −22% first, in March. The June 2026 liquidation cascade cost 29% in five days and ZEC fell 33% in it, so in a fast deleveraging it does not hedge anything. The FTX window costs 41%, mostly SOL at −63% (HYPE did not exist yet and is filled in by beta). One number to distrust. Resample the last twelve months of actual daily moves and the median outcome is 14x. That is not a forecast, it is the 2025-26 ZEC rally dominating the sample, and what it tells you is that this book's entire track record is one event. Liquidity at retail size is a non-issue for all four, and a stock market shock on its own barely registers. As usual, there are model estimates under those assumptions, not advice.

Peturio

Ran the five coins in your screenshot (if there are more below ROSE, post them and I'll add them). At current prices that's about $1,020, LTC 70%, DOGE 10%, VET 9%, ADA 8%, ROSE 3%, and you need roughly +80% to get back to what you paid. Bad year first. Simulated one year forward from current volatility and correlations with no trend assumed, the worst 5% of outcomes lose 64% or more. The same dollars in BTC alone lose 51% or more. The median path goes through a 49% drop at some point during the year, so the odds of sitting through a 50% drop in the next twelve months are about one in two. For BTC alone it is one in five. One path in ten goes through a 70% drop. The recovery question, since that is really what you asked. In the same simulation, 18% of paths end the year at or above what you paid in May 2025. Put the same dollars into BTC and that number is 8%. The reason is the same one that makes the 50% drop likely. These five coins run at about 65% annual volatility against 44% for BTC, and volatility cuts both ways. It is what gives you a real shot at +80%, and it is what puts 13% of paths below half of today's value. If the next twelve months look like the last twelve (a resample of the real daily moves since September 2025), the picture is much worse, under 1% of paths reach breakeven and the median path loses another 54%. That is a statement about how bad the last year was for these five, not a forecast. Which coin does the damage. LTC is 70% of the money and 69% of the risk, so there is no hidden concentration beyond the obvious one. The five move together at 0.8 to 0.9 with each other (ROSE at 0.6), and the mix has a diversification ratio of 1.08, meaning five coins take about 7% of the volatility off compared with holding one of them. If BTC drops 30% tomorrow, the last 90 days of betas say LTC drops 26%, DOGE 35%, VET 31%, ADA 44%, ROSE 29%, and the book 29%. The coins you are down most on (ADA, ROSE) are also the ones that fall hardest when BTC does. Replays of actual crashes on today's mix. October 2025 to July 2026 costs 68%, BTC alone 51%. The 10 October 2025 flash crash costs 23% in a day, BTC 7% (the mix falls three times as far as BTC on a fast liquidation day). The June 2026 cascade costs 20%, BTC 15%. The FTX week costs only 1.6%, but that is because LTC happened to rise 11% in November 2022 while DOGE fell 47%, so treat it as luck rather than protection. The August 2024 yen unwind costs 20%, the December 2024 Fed selloff 17%. Days to get out. At this size every one of the five sells in minutes, total slippage about $4 even at 5% of a stressed day's volume. Liquidity is not a risk you have. What the numbers above do not include is that all of it sits on one exchange, which is a separate risk from price. One more thing the models say. A stock market selloff on its own (S&P −15%, dollar +8%, credit down) moves this book by under 1%. It only reacts to what BTC and ETH do, which matches the 0.8 to 0.9 correlations above. And the necessary disclaimer at the end: none of this is a prediction or advice.

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alfredonoodles

He should look into Manifold Markets, and Manifund. They started with seed money from FTX Foundation. Manifold and Manifund kind of split, and Manifund recently hired Caroline.

No-Masterpiece2246

The regulated companies are often the most fraudulent. Think FTX or Crypto dot com. Kalshi is rigged like the rest of them, and they're going to die on that hill. Should've stayed quiet.

EthanDavis63

Real OG HODLers survived Mt. Gox, China ban 5.0, and FTX collapse. A 2.5% dip or a $10k pump doesn't even move our heart rate anymore.

StrikeSouthern8637

FTX was not a US regulated company. Any US company could commit fraud and submit false books (including your bank). But I don't think cash app is going to risk their industry leading company to loan out your $59 of Bitcoin bro.

deebodigital

The SBF / FTX fud of 2022 was apocalyptic

ji-wayne

FTX was like 5 minutes ago

derbyfan1

Yes me. I used to keep some on Celsius and i had loads on FTX too. Never felt safer and more secure. Ignore the noise when they say NYKNYC. Thats nonsense. Anyway, after losing a sizable amount (FIRE money) Im off to Wendys for my day shift. Bye!

KateR_H0l1day

Buying SOL for the first time after FTX, @ \~ average $28 for the months after, then staking, still have it. Like everyone else, wishing I’d of bought more of course. But my BTC at an average of \~$50K is very nice too 😌

fan_of_hakiksexydays

To be fair, so far cycle geeks have been right. I remember in the last bear cycle right around August, we all thought $19K was the bottom and we had entered the bull market, and cycle geeks got the timing wrong. Then we dropped to $18K. Then in November FTX tanked and we crashed again to $15K.

ExaSee

People seen to forget FTX was a thing

hereforsneaker

well anything in life can be considered speculative even the so-called ‘risk free assets’ or to a more dramatic extent, the humble street cross as demonstrated. so therefore, you are technically correct . your originally comment was gambling. under strict definition arguably also correct. ill be honest i started out trying to prove you wrong, despite having doubts. everyday risks=walking across a street>bench pressing>commercial flying>driving<>charter flight deposit account>savings account (fed gaurentee) hedging>reasonable derivitives justified risk/reward assets=gold (lol) > AAA tnotes>AAA tbonds> upper tranche cdos (nvm you are correct) > mid tranche (lol)> non cyclicals>etfs (lol)>blue chips>LLY>NVDA>mid cap>small cap>S&P 500=world index=overvalued mega caps=>BHP(ax)=>AUD=ASX200=iron+copper+superannuation+property>LLY>TSLa>META>stocks>equities > low tranche > property (lol) speculation = gold>bitcoin>ethernet>black jack>poker>option spreads>ai stocks with other moat>pure chip stocks>forex>Elon musk=TLSA>DOGE>spacex>bonds at risk of default> selective bond default > bonds in default>ada>luna (pre crash). Darwin’s award contenders=gambling>sports>roulette board> leaving money unguarded in a public space> smoking cigs>shit coins>whatever meme coin is popular=doge=luna (post crash)>FTX>LUNA pre crash>upper tranche cdos>0DTE>taking meth>fking a girl with hiv>lottery ticket>GME stocks>SEERS shares gold x2 is intentional. many others probably should follow the same rule. list is WIP. i could go on, but i concluded half way through the subjective risk justified section that you are indeed correct.

Omniwatch

Personally I wouldn’t call going down to 3k with FTX “resilience”

user_name_checks_out

"Nothing has gone wrong so far, therefore nothing could ever go wrong". 🤡 Tell that to the users of Gox, Quadriga, FTX, Celsius, etc. etc. etc. NYKNY₿

dj_destroyer

Is it shady? Sure. Is it illegal? I dunno Celsius and FTX pulled it off for a little while

Basic-Initiative-298

When there's trillions of dollars waiting on the sideline for this bill to pass, the pressure to pass it is impossible to ignore. Those holding out are only protecting the banking monopolies who invest people's money without their consent. This might be a controversial comment but, it kinda reminds me of FTX tbh.

csfrayer

This isn't the first time crypto legislation has been considered. Sam Bankman-Fried's legislation got hearings in the House and Senate before FTX imploded from fraud.

BetterSeesaw

You sure about that? Would you still have your FTX coins?

Exact_Physics4224

Happens all the time, would take a scandal similiar to FTX or equivalent. BTC has not even hit a weekly uptrend yet

Objective_Basil_8414

Whatever the final text says, the practical effect of any market structure bill is that compliance cost becomes the moat. Big venues absorb it, small ones can't, so "clarity" usually means fewer venues rather than safer ones. The genuinely useful parts for retail are narrow: custody segregation and reserve requirements, the FTX shaped holes. Most of the rest is about who gets to issue and list, which was never a retail question.

Emergency_Yam_4082

FTX - Utility token

cyrdapwn

I had all my btc (multiple coins) on FTX. I withdrew everything 3 days before they froze the withdrawals. I read strange tweets from some insiders that something fishy is going on there, I ignored it and went to sleep, but while I was falling asleep I started to be nervous about it so I woke up a took everything to my trezor. Btw I also dodged celsius collapse by like 2 weeks.. I am not taking any chances now, everything is on my trezor. But seeing what happened with coldcard, well I am not so calm anymore. I guess I will just betray self custody and move everything to btc etf..

jawni

This is basically using SOL as a peak example of when you should inverse this sub's sentiment, because this sub is treating ZEC in 2026 the same it treated SOL in 2021(but more accurately 2023, when it started climbing and every commenter in this sub had some cope about how it was only pumping for the FTX unlocks). >I was wondering why nobody’s been talking about Z cash despite the insane run it’s on. Plenty of people are talking about it, but this sub, like this exact thread is point out, is at best far behind the times, and at worst is oblivious to what is going on. If you're on X or if you follow the industry and market, you've been hearing buzz about it for a while now.

Aerocryptic

>But BTC was already down 72%. FTX and Luna brought it to 77%. BTC was down 30% ish before Luna. It went from $40k to $20k afterwards

Rare_Lie4758

You are so right about FTX, that disaster was exactly why we need some rules but not this kind where only the suits get protected

hodler1992

It's rather important for the institutional side than for retail but it should prevent us from incidents like FTX

MaxiMaxLaurent

I started to dig more into what happened in previous cycles. I think I may have jumped too quickly to the conclusion that 59k was definitely the bottom. It might still be the bottom, but I don’t see it with the same certainty anymore. I initially thought a drop of only 50% would make much more sense in following past cycles. I thought the only reason past cycles dropped more than 50% was because of events like FTX. But BTC was already down 72%. FTX and Luna brought it to 77%. I also thought that because bull cycles dropped so much in intensity, bear winters would also get equally milder, but they’re actually not. The bounces this year to 96k, 84k, 81k, are very similar to the 2018 bounces to 12k, 9k, 8k.

statoshi

I think you'll find that creditors tend to take a big haircut in insolvency cases. | Service Name | % Returned to Creditors | |--------------|------------------------| | FTX | ~30% | | Celsius | 65% | | Genesis (Bitcoin creditors) | 51% | | Genesis (Ether creditors) | 66% | | Voyager | 72% | | Mt. Gox | varies by user | | QuadrigaCX | ~ 46% | | Youbit | ~ 75% | | Prime Trust | varies | | Cryptsy | Minimal |

Dopest_Trip

From my limited understanding - the most appealing aspect of the Clarity Act would be moving consumers from the back of the line to the front when it comes to to FTX-esque claims on assets.

circumcisingaban

i felt so at first until the FTX collapse and the NY exchanges were fine.

GeneralComposer5885

The red flag for me was FTX Super Bowl adverts - just took a while for momentum to slow down from that point. In my opinion, even the real money and power didn’t recognise the public had lost interest, so we’re in this slow death stage now whilst they try offload.

ObviousEconomist

It's because of FTX that all the exchanges learned not to do stupid things like gamble with client assets.

Fun-Analysis-182

The Coldcard hack was a bad-RNG bug in how some units generated the seed, not proof that cold storage itself fails. A passphrase Trezor with a good-entropy seed isn't exposed to that one. And "safer on an exchange" forgets Mt. Gox, FTX and Celsius: most of those people waited years or never got made whole, so getting paid back once was the exception, not the rule.

Happierdante19

if you wanna learn just think in the gold, if you have 0.5 kg of gold that buy in 2020 that was in $1.589, and now today (today) is $4.400, this meaning that that piece of gold that you buy in the past have new value, and can buy a little like 0.05gr of gold without lost the rest of you gold, know this register in a public book, were said: you "anna" (example), sell 0.05gr of gold at "samahel" for $7,16, you have the money in he have the piece of gold. other thing is that for the problem of FTX (1 Exchange that lost money of so much clients,) we need to be carefull if you have so much money, you need to buy a wallet cold, that is more securyti in the case that someone try to hack you, or hacken the exchange like BYBIT or other, so this means that you btc dont lost for the exchange, ( this part is just if you have so much money in crypto, if you have $10 (like me) or $100,1000, is something secure, even all dont share your password, and the wallet this subject for the future now no. because you´re a begginer in need to take this slowly uwu, in other thing just, keep the calm i need a little of money too sister, even all i know that you get it xD

Zawer

I trust Gemini as I understand they are subject themselves to recurring audits I just wouldn't use their lending /interest bearing options as people lost money during the FTX fiasco

Victorvnv

Luna during the crash at 1$… put 70k woke up 8 hrs later it was 5000$ Algorand during its peak, Solana before it crashed to 8$ but I sold it after FTX collapsed as everyone said it was dead and will go to sub 1$ and a few small cap coins that went to 0 and got delisted a while after as I also though that small Mc on coinbase means it has higher chance to pump

Rogntudjuuuu

Yeah, but is it worth putting yourself into debt? You might have to sell off some of your bitcoin to pay off the loan given that it hasn't decreased in value. How bitcoin will behave up until the next halving in April 2028 is a guessing game. What if there's a new FTX or Mt Gox event? If you're willing to take that risk, then go for it. But I wouldn't.

circumcisingaban

i was mad at first but guess which exchanges survived the FTX collapse

Transcendance2021

From Mt. Gox, to FTX Alameda Research to Bybit, Cyprus, Bahrain, U.A.E., Saudi Arabia... From Sim Swapping to straight up assassinations/hacking of Bitcoin whales... Anyone who trusts Michael Saylor, Musk, Dorsey, or Bitcoin is surreal/bewildering... People could have been retired if there wasn't insane nefarious activities going on

tom-branch

So was Sam of FTX, fraud is profitable, right until it isnt.

Fomo_Family

ich is why bank lobbies spend their money fighting stablecoin legislation rather than Bitcoin. **Threat to official currencies.** Close to zero anywhere with a credible currency. Real in places with high inflation and capital controls — except that there, people move into dollars, usually via stablecoins, not into Bitcoin. So crypto's actual monetary effect so far has been to extend the dollar's reach into places its banking system never got to. It's been dollarising, not de-dollarising, which is the opposite of the usual framing. **Threat to financial stability.** This one has flipped. In 2022 the blowups — Terra, Celsius, 3AC, FTX — stayed inside crypto and the wider system barely blinked. Post-ETF that isn't true any more, because the exposure now sits on regulated balance sheets. The live question stopped being "will crypto replace the financial system" and became "how much crypto risk has the financial system taken on." On your size point: market cap is the wrong measure for contagion. Leverage and interconnection are. A small asset held on leverage inside regulated institutions matters more than a large one held unlevered outside them.

desimus0019

People that dealt with FTX in 2022 and several other exchanges have much worse horror stories. This is why everyone loves to repeat the "not your keys not your coins" mantra, and they are right. No one should rely on any exchange to hold their bitcoin. My problem was that limits kept me from moving it quickly enough, an issue I hadn't taken into account when buying in bulk.

Old_Cucumber_1343

i got a little bit of everything. MSTR / IBIT / self custody / some on an exchange that survived a bank run during FTX

Left_Entrepreneur918

I remember the fools so vividly at 15k, the day after FTX so many bears sitting on the sidelines until 10k. I made the biggest btc purchase of my life that day. Fuck them

pop-1988

That sounds familiar > The court noted that FTX touted itself as “the safest and easiest way to buy and sell crypto,” and that customer assets, including digital assets such as Bitcoin and Ether, were held in “custody” by FTX while stating FTX segregated customer assets from FTX’s own assets as a general principle, when in fact customer funds were commingled and misappropriated

harvested

October gang is waiting for an FTX equivalent but market seems healthy enough

AggravatingGuest1956

lol Sol crashed because FTX and alameda blew up.

KevinNegocios

That’s a fair point only if you look at it strictly through a legacy TradFi lens, but it completely misses the architectural breakthrough of Bitcoin. We use centralized custodians for gold because storing and shipping heavy physical gold bars across the globe is a logistical, expensive nightmare. Stocks literally require a centralized legal registry (like the DTCC) just to exist. In the fiat system, custodians are a necessary evil. Bitcoin was engineered specifically to eliminate that exact counterparty risk. Sending a billion dollars in BTC takes 10 minutes and requires zero armored trucks, vaults, or bank approvals. It's digital bearer property. When you hold "paper Bitcoin" on an exchange, you don't actually own the asset; you just own a digital IOU from a centralized entity. We all know exactly how that movie ends (FTX, Celsius, Mt. Gox, BlockFi... need I go on?). Applying the same flawed, centralized ownership criteria of the fiat system to the very asset built to replace it is wild. It’s like measuring the adoption of email by counting how many people print them out to mail them via FedEx. Sure, it makes the adoption numbers look bigger for the headline, but it totally defeats the purpose of the technology.

shaunj72143

I did this with ZEC but that was completely a (very) happy accident. BTC (possibly eth) is the only fire and forget crypto...even then, I'd personally wait til the next catastrophic crash (like the FTX collapse) to buy in. Just collect USDC/USDT til the bottom is in. Buy BTC, write down your seed phrase, stick it in your gun safe/safe deposit box, check back in a decade. Otherwise you're just playing in the casino (not trying to be a dick, just relating my own mistakes/successes

ImpressiveRelief37

Also you let someone else hold your bitcoin and they could get hacked, or go south like FTX, Celsius, BlockFi, etc… lol nope not for me.

bailuobo1

For real. Maybe it's just because I've been through a few cycles, but this bear market didn't seem that bad. There was no FTX type crash. And now tons of hopium that the bear market is over. Makes me think that we'll see one more leg down to really shake people out. And no, I'm not selling my stack to bet on that. I'll continue to DCA and be happy if I can do so at lower prices.

ffbbaarrnnaa

laughs in FTX lol

derbyfan1

At least your not like one of those idiots who were waiting for sub $3k Btc during FTX.. Oh wait...

Suspicious-Book-5352

Last year, I was looking and this and comparing with the chart. When it went to ATH on 07 OCT 2025 and bear began, in front of my eyes, I was like, ffff... Even though it seems like a bottom rn, I'm just retardmaxxing this OCT 6th thing. I also think this bear was too shallow, and no real black swans yet (nothing like FTX or even Luna).

KP_2016

Not during the FTX business. They partnered along with other companies for asset recovery. There is something called as DSP you can look it up. What BitGo did was got hold of some part of aseets through DSP and created a platform with 3 auto liquiditation dates where former FTX users can sign to BitGo platform and recover their lost assets. It's a strategic move these companies do but BitGo had no part managing funds when FTX was in business.

My_name_i_Jeff_Bezos

Did they not learn from FTX

Objective_Digit

Bitcoin is never hacked in these stories, yet Mt Gox, China bans, FTX etc. have crushed the price, guy.

BakingBreadBB2

Yeah. The new CMA framework that dropped in April explicitly enforces strict custody, tech audits, and governance rules to prevent another FTX situation. A lot of the massive international platforms are having to restructure and launch completely siloed entities here just to comply with the local capital and custody requirements.

Vephyrium

Coinbase is nowhere near comparable to the FTX fiasco… and will be here for sometime

WeekendQuant

You're just lucky Coinbase hasn't gone under yet. Many people have lost their entire stack with exchanges. FTX was a huge exchange and was poorly risk managed. These exchanges don't have the regulations that a stock brokerage has, so until that happens I wouldn't trust them with your stack.

ubermensch1001

It's honestly kind of crazy to look back on 2022 through 2024 to see just how much had changed in such a short time window. November of 2022 we had the FTX crash where BTC was at around 16k, fast forward to just 15-16 months later and it was setting a new all time high lol. To put this into perspective with the 2018-2021 cycle, we bottomed out late 2018 and didn't even set a new all time high until late 2020. Again, I don't think it's all that long from now before we cross above 100k and I think once this definitively happens it won't take much for a new all time high. Something I think about is that this is literally the last window where a relatively normal person starting with 0 can get .1+. Let's say we fast forward to the 2028 halving and BTC is trading at 200k or higher, how many people are going to have $20,000 to be able to buy that? Even now at a cost of a little under $8,000 this is difficult for most working Americans. It's actually insane to reflect on this and especially when not too long ago this would have cost you a couple grand or even less than 1k.

Sector__7

Ask people who were in Celsius, Voyager, FTX, etc…how well that lending model worked them. Never trust you main stack on an exchange and only put on there what you need to do for a transaction.

Effective-Resource85

same with people holding btc in FTX 2022

SasiRacha44

Altcoins big trash , ever heard Luna , so called top 10 altcoin, scammed infront of everyone. Every heard FTX, so many like this. Atleast memecoin based on community, Murad is SPX6900 community driven.

Illustrious-Pay6341

Most ignorant comment ever made! Go read about FTX, Bybit, Mt. Gox, DMM, etc.

Schwoanz

And triggering the FTX collapse and causing last October‘s crash. Fuck this guy!

Longjumping_Bet_8563

It's interesting how people want to compare MSTR's situation to FTX; they're not the same. MicroStrategy has tangible assets backing their Bitcoin strategy, unlike FTX's questionable operations.

Stomach_Swimming

So, Bitmart decided to go the way of FTX. Is Bitmart USA closing down, too?

Romanizer

Yes, it deflected from the 200DMA, just like it did in May of this year at $82.5k. the last days we went through the 200DMA on high volume and left it behind us. Combined with the fact that bears were not able to slice through 200WMA and showed seller exhaustion, the situation is pretty clear, together with on-chain data signaling beginning bullish momentum. There are indicators that are much more reliable than day counts. And of course, you would need an FTX-like event.

Romanizer

And power law would need to break together with 200WMA. Last cycle we had a cascade of systemic failures and liquidations with the FTX crash as a finale. Still, power law held. This cycle, we are far from any kind of comparable failure. $57k was already much lower than anyone could hope for. It was a gift for a generational market entry.

hippofire

We also had FTX

DaVirus

0. Lost it all in a boating accident/FTX collapse/Trezor wrench attack/ColdCard hack.

Sacredwisp

You were in the majority a week ago. Everyone and their mother saying one more leg down in October. Long term holders undereater is comparable to other bears. Sellers are exhausted. We hit bullish divergence already. We had 3 legs down like the last bear market. We had another leg down a few months ago, and it barely swept the low. To me, it felt a lot like FTX. We had price capitulation in Feb and time capitulation all year. We didn't hit any of the top indicators and had a distribution rather than blowoff top, but we hit about half the bottom ones. It's possible the low isn't in, but I find it hard to believe at this point. In a bear, we take the escalator up, elevator down. In a bull, the opposite. We'll, we just had our elevator up.

LargeSnorlax

Buttcoin is a LARP sub nowadays. Before it was a place where 60 year old men could sit back on their blood money duvets and complain about the nonexistent digimal tokens and how they had any value at all, but since 2021 it's become inundated with failed crypto traders who lost their shirt during the FTX collapse and have made it their life mission to screech about how crypto is a scam because they suck at it. Go ahead, look at all the accounts there. All fresh, all cleaned. Most have cleaned out their history, but if you know how to check, the internet doesn't forget. They're all over the place on all sorts of altcoin forums, saying to the moon and other such nonsense - Until the prices *weren't* going to the moon. Now it's a scam, a scheme, a pyramid, any other words they can throw at it. The same dudebros who were cheering for SHIB to be $1 are the same denizens of /r/buttcoin now, forever cursed to be posting about how the thing they completely failed at is a scam, because *reasons* that totally have nothing to do with that.

Xennenial

I bought through the bottom of the COVID crash, the bottom of the FTX crash and the bottom during the last 7 months. I took profits during the bull runs that proceeded the first two aforementioned crashes. I'll take profits during the next bull run. All the people who talk shit about crypto are the ones that are too incompetent to make money in this space.

Left_Entrepreneur918

I remember after FTX btc rallied to 25k, the moon boys came back and boom we went below 20k again. Bears can have rallies

NerdyKid1101

It's been so crazy this cycle haha the only other time we've stayed under the 200 week MA is when FTX collapsed so we very well could stay under it for a while but regardless, It's a good sign we've hit bottom.

quintavious_danilo

Not that I know of. They big players are all set up pretty good after that FTX disaster. Some smaller exchanges recently closed shop but that wasn’t even moving the price at all.

Left_Entrepreneur918

I bought .5 the day after FTX crash when it hit 15,500. I thought blood in the streets. I had an inheritance left over.

ubermensch1001

What's crazy to think is that post FTX around late November-December of 2022 we were at around 16k and about 14-15 months later already setting a new all time high. Don't underestimate how fast this can recover and how quickly we can get back above 100k and even setting a new all time high.

fan_of_hakiksexydays

We still went down more than 70% in early October before the FTX/Luna crash. FTX imploded in November, and crashed the market even more down to around 78%.

devCheckingIn

There is the argument that the last cycle's low occurred in October only because FTX went kaboom, and there's no guarantee we'll get a similar-sized black swan event this time around.

Specialist_Ant116

Welcome to the party, boss! Withdrawals have been frozen since the announcement on July 26. We are mobilizing globally to freeze their assets and get out money back. You have just entered a mini-FTX! Connect with the rest of us on telegram or X I guess.. Start filing reports to your national cybercrime department

Django_McFly

A lot of people feel like *if any of them had an issue, then all of them must have the issue* and no amount of like reputable operation or regulatory approval can change it. If FTX was stealing customer funds, then literally every exchange on the planet must be stealing customer funds. If 2026 Nissan Altima's have a brake system recall, then every car must have a brake system recall.

boldstrategies

The fortune cookies at this one Chinese restaurant I go to had their fortunes sponsored by FTX. This was a year or two ago.

tenor_tymir

You were lucky so far. Not a very long time ago, FTX, Vovager, BlockFI, Mt.Gox and Bybit either closed shop or had hacks into the billions. You were lucky you didn’t choose any of them because you definitely could have.

TerminatedPotato

FTT (the FTX crypto) has gotten as low as $.20 per coin but still hasn't hit zero. People don't seem to realize how stupid it is to say "Bitcoin goes to zero". Tbf though it's the same logic that makes me wonder why Saylor said "It's going up forever, Laura." It will break a million. Probably 10 million per coin in my lifetime. The one thing it can't do is go up forever.