FTX has officially registered bankruptcy in court, this certainly makes a big impact that will make the market difficult to recover, especially FUDS on social media that there will be cases like FTX which certainly makes investors panic and choose to leave cryptocurrencies.
And this is the problem with bankruptcies like this one, investors which are suffering massive losses are not going to blame FTX specifically for their losses, instead they are going to think on this market as a whole as a scam, and for the investors that think like that they are never coming back no matter how big the next bull run could be or how fast the adoption grows, we have lost them and all of this is happening because of an individual that clearly never cared about this market at all. 
Topic: All Assets are seized for FTX... Its over! (Read 400 times)
I hope they start selling off assets soon. I want to use the Blockfolio app again that FTX purchased and changed the name of. Now it’s not working and I assume it’s because it was an FTX asset and has been confiscated. Would be great if Binance or any company with money stepped in and bought the app as it was the best portfolio tracking app available for crypto.
I miss that Blockfolio turned FTX app too. I used it as a price tracking app for cryptos I watched. I quickly deleted mine during the wake of the FTX debacle as it wasn't opening and I read somewhere that any attempt to update it would be opening malware as a phisher had been introduced in the app that stole funds. For me, it's better I played safe than being sorry. 
It's worse than Mt Gox, because FTX happened at a time when money is fleeing risky assets to the USD.
There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore.
So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so.
It could never be worse than mt.gox, the initial "hack" for mt.gox was 400k bitcoins, can you imagine how big that is? Sure, wasn't as big at that time, but that money is still out there, I am sure some people must be tracking it, or maybe it’s not moving at all, but at the end of the day it’s not burned, it's "there", which means that we are talking about at least 5-6 billion dollars all stolen in a single move right there.There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore.
So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so.
And at top prices, this was at a 20+ billion dollar deal, and yet because the price was low those days, it looked like a few dozen million dollars at most. I believe nothing in history of bitcoin world will be bigger than mt.gox ever.
FTX has disappointed everyone and mind you, this is worst than the time of Mt.Gox when crypto was still fighting for more adoptions. I believe they caused the panic and started the distortion thinking that they will get away with it. This is particularly as their headquarters is in Nassau in Bahamas where they believe regulation is much weaker than in the US, EU and others. But the country has proven itself now.
If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.
If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.
It's worse than Mt Gox, because FTX happened at a time when money is fleeing risky assets to the USD.
There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore.
So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so.
FTX has officially registered bankruptcy in court, this certainly makes a big impact that will make the market difficult to recover, especially FUDS on social media that there will be cases like FTX which certainly makes investors panic and choose to leave cryptocurrencies.
FTX has disappointed everyone and mind you, this is worst than the time of Mt.Gox when crypto was still fighting for more adoptions. I believe they caused the panic and started the distortion thinking that they will get away with it. This is particularly as their headquarters is in Nassau in Bahamas where they believe regulation is much weaker than in the US, EU and others. But the country has proven itself now.
If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.
If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.
And now the rumours are about Blockfi
https://i.ibb.co/gt4WrNk/twit.png
Source: https://twitter.com/Cointelegraph/status/1592584274133536769
I think there will be more companies to fall due do FTX. CZ already said 4 or 5 companies can be insolvent.
If Blockfi falls, I think the prices will reflects again
https://i.ibb.co/gt4WrNk/twit.png
Source: https://twitter.com/Cointelegraph/status/1592584274133536769
I think there will be more companies to fall due do FTX. CZ already said 4 or 5 companies can be insolvent.
If Blockfi falls, I think the prices will reflects again
I think people are already convinced that Blockfi is insolvent so it probably reflected in the markets already. The question is — do they have some coins left outside of FTX to liquidate?
And now the rumours are about Blockfi
Source: https://twitter.com/Cointelegraph/status/1592584274133536769
I think there will be more companies to fall due do FTX. CZ already said 4 or 5 companies can be insolvent.
If Blockfi falls, I think the prices will reflects again
Source: https://twitter.com/Cointelegraph/status/1592584274133536769
I think there will be more companies to fall due do FTX. CZ already said 4 or 5 companies can be insolvent.
If Blockfi falls, I think the prices will reflects again
I hope they start selling off assets soon. I want to use the Blockfolio app again that FTX purchased and changed the name of. Now it’s not working and I assume it’s because it was an FTX asset and has been confiscated. Would be great if Binance or any company with money stepped in and bought the app as it was the best portfolio tracking app available for crypto.
Would they sell confiscated assets? I think not. I do not know about this 'Securities Commission' of the Bahamas but normally when this happens in other countries by the authorities they do not allow selling the assets after them being confiscated. Who would the money go to? Would it help with offering a compensation to the people that lost money on FTX? 
I hope they start selling off assets soon. I want to use the Blockfolio app again that FTX purchased and changed the name of. Now it’s not working and I assume it’s because it was an FTX asset and has been confiscated. Would be great if Binance or any company with money stepped in and bought the app as it was the best portfolio tracking app available for crypto.
Binance is different because they aren’t a market maker in the shadows like FTX was. FTX basically created FTT which was used as collateral with many different Defi and exchanges. No idea why people accepted FTT as collateral when it’s a token they created.
Binance I am pretty sure it’s just an exchange itself. There are market makers which do business with them and that is all. FTX went hand in hand with Alameda Research.
Either way. Withdraw just in case. You never know.
Binance also has a bnb and they could use it as well as collateral if they like too but what if they did it already and we only didn't noticed it because there are no issues that happened yet with bnb and binance. People accepted ftt as a collateral because they knew that ftx is a top crypto exchange. They don't know the collapse coming.Binance I am pretty sure it’s just an exchange itself. There are market makers which do business with them and that is all. FTX went hand in hand with Alameda Research.
Either way. Withdraw just in case. You never know.
With those noise ftx made recently, I think everyone are already aware of what happened with them and they are now pulling out their funds in this exchange but the problem is that ftx won't let them withdraw. Only those who monitor the market properly are lucky because they be able to withdraw their money before the tension builds up.
Binance is different because they aren’t a market maker in the shadows like FTX was. FTX basically created FTT which was used as collateral with many different Defi and exchanges. No idea why people accepted FTT as collateral when it’s a token they created.
Binance I am pretty sure it’s just an exchange itself. There are market makers which do business with them and that is all. FTX went hand in hand with Alameda Research.
Either way. Withdraw just in case. You never know.
Binance I am pretty sure it’s just an exchange itself. There are market makers which do business with them and that is all. FTX went hand in hand with Alameda Research.
Either way. Withdraw just in case. You never know.
Yes you should delete the FTX app on your phone because there are reports of some malware version being pushed onto the Google play/App store. You should also avoid visiting ftx.com since it can install some malware.
You think it can't get worse and it just does. Even before it shut down. There was weird stuff going on the exchange like BNB being pumped to like $1000 while the spot price was $300. I think they were just trying to liquidate as many traders as possible to bring down their liabilities.
You think it can't get worse and it just does. Even before it shut down. There was weird stuff going on the exchange like BNB being pumped to like $1000 while the spot price was $300. I think they were just trying to liquidate as many traders as possible to bring down their liabilities.
BNB doesn’t seem all that different than FTT if you ask me. It’s likely even more dangerous due to its size. I sold all my BNB when Binance stopped charging trading fees as it seemed to me to be useless once that happened. I’m sure Binance has plenty of money but don’t think that what happened to Luna and FTT can’t happen to BNB. If I’m an American, I’m avoiding Binance.us like the plague. If FTX.us doesn’t display that these companies will do crazy risky things internationally and then lump their US entities in when things go bad, I don’t know what would…
Make me think about Binance as well, as I have said previously in one thread, I have like 100 USDT so I withdraw it immediately because I'm thinking that same scenario. If FTX that has billions worth and the backing of a company behind, lots of known investors, it fall very hard causing a dip in the price. And most probably BNB or Binance is not an exception to this. And who knows, proof of reserves might be late in implementing in suddenly there will be a big bank run or shall we shall crypto run - investors suddenly withdrawing causing panic, and then it had ripple effect. And so just like that, Binance might be the next, just saying.
Yes you should delete the FTX app on your phone because there are reports of some malware version being pushed onto the Google play/App store. You should also avoid visiting ftx.com since it can install some malware.
You think it can't get worse and it just does. Even before it shut down. There was weird stuff going on the exchange like BNB being pumped to like $1000 while the spot price was $300. I think they were just trying to liquidate as many traders as possible to bring down their liabilities.
You think it can't get worse and it just does. Even before it shut down. There was weird stuff going on the exchange like BNB being pumped to like $1000 while the spot price was $300. I think they were just trying to liquidate as many traders as possible to bring down their liabilities.
BNB doesn’t seem all that different than FTT if you ask me. It’s likely even more dangerous due to its size. I sold all my BNB when Binance stopped charging trading fees as it seemed to me to be useless once that happened. I’m sure Binance has plenty of money but don’t think that what happened to Luna and FTT can’t happen to BNB. If I’m an American, I’m avoiding Binance.us like the plague. If FTX.us doesn’t display that these companies will do crazy risky things internationally and then lump their US entities in when things go bad, I don’t know what would…
Yes you should delete the FTX app on your phone because there are reports of some malware version being pushed onto the Google play/App store. You should also avoid visiting ftx.com since it can install some malware.
You think it can't get worse and it just does. Even before it shut down. There was weird stuff going on the exchange like BNB being pumped to like $1000 while the spot price was $300. I think they were just trying to liquidate as many traders as possible to bring down their liabilities.
You think it can't get worse and it just does. Even before it shut down. There was weird stuff going on the exchange like BNB being pumped to like $1000 while the spot price was $300. I think they were just trying to liquidate as many traders as possible to bring down their liabilities.
Even the portfolio tracker iOS app is no longer working. That’s a shame. I always thought it was the best portfolio tracker available and thought it was odd when it was purchased by FTX seemingly out of nowhere. I hope it is able to be revived or someone else builds a good portfolio tracker app. I’ll be sad to no longer have instant access to market data and valuations on my entire holdings list.
It looks like even the Miami Heat quickly distanced themselves from FTX. Today they scrapped their deal for arena naming rights with FTX and have already removed the giant FTX letters from on top of their stadium. New negotiations for naming rights with other partners has already begun. Amazing how fast they did that. Makes me think FTX probably didn’t pay up front…
I think they had no choice. People would see the letters "FTX" and then they would google it and make an account and deposit money. They would be promoting a scam pretty much. I am also surprised how quickly they removed the letters.
Alot of scammy stuff going on. The FTX ERC20 tokens are getting moved around. In the middle of the night, on a Saturday. Most likely this isn't the liquidator assigned for the bankruptcy.
It looks like even the Miami Heat quickly distanced themselves from FTX. Today they scrapped their deal for arena naming rights with FTX and have already removed the giant FTX letters from on top of their stadium. New negotiations for naming rights with other partners has already begun. Amazing how fast they did that. Makes me think FTX probably didn’t pay up front…
I was surprised with FTX, things like this are complicated and difficult to solve and of course make the market more difficult, investors panicked and made a big impact, I believe FTX will be difficult to rise even though today it is up more than 30%.
And with this news, another black eye after the Terra Luna. Just the question is who is going to be next?
Any insolvency or exchange hack might not be that much of a big deal compared to FTX — unless it's probably either Binance or Coinbase. Seriously though, if something happens to Binance, this industry might be done for a decade.
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