FTX drama stressing people for no reason | How to stay neutral

Daltonik

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Quote from: mich on March 27, 2023, 01:24:35 AM

Well something good for FTX. It has reached a new deal with the hedge fund Modulo to recover over $400 million dollars. It is 97% of the money sent to the hedge fund in 2022.

The hedge fund will pay $404 million in cash and give up its claim to $56 million in assets held on FTX's crypto exchange. https://insidebitcoins.com/news/ftx-bankruptcy-team-recovers-404m-from-bahamas-hedge-fund

Yes, in fact, great news for the victims, but at the same time SBF itself pays for the legal costs, in fact, from the stolen funds that he once sent to his father as a gift that is not taxed, ultimately SBF's expenses in this lawsuit can amount to many millions $.

https://www.forbes.com/sites/sarahemerson/2023/03/29/sam-bankman-fried-legal-fees-funded-by-alameda-money-gifted-to-father-joe-bankman/?sh=1c202a603f57

mich

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Well something good for FTX. It has reached a new deal with the hedge fund Modulo to recover over $400 million dollars. It is 97% of the money sent to the hedge fund in 2022.

The hedge fund will pay $404 million in cash and give up its claim to $56 million in assets held on FTX's crypto exchange. https://insidebitcoins.com/news/ftx-bankruptcy-team-recovers-404m-from-bahamas-hedge-fund

Daltonik

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FTX Group requires politicians who received donations from them in the period from 2020 to 2022 to return them by February 28, we are talking about the amount of $93 million.
I don't know if it's even legal to demand the return of donations and what sanctions can be imposed on those who refuse to do this, except for the disclosure of the name.

https://twitter.com/stephanie_murr/status/1615466588123144202
https://www.prnewswire.com/news-releases/ftx-debtors-send-messages-to-recipients-of-avoidable-donations-301738948.html

Maxre

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I was safe from FTX Crash by not holding funds in FtX And also not buying any kind of FTX token's and at all. And at the time of FTX collapse I have had enough Money to buy Bitcoin at cheap and that was the thing where I was able to buy something that is not giving me such huge profits too
So just hope for good and do not get so much greedy too. And we should make such good rules that might be helpful for us. And thus These cRash drama will come for a long time and they will wash out new people.

AmoreJaz

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Quote from: erep on January 28, 2023, 03:15:21 PM

Quote from: Rikafip on January 27, 2023, 10:24:50 AM

Quote from: crashedanon on January 27, 2023, 04:29:23 AM

FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

While I do agree that people are slowly forgetting about FTX, its not necessarily a good thing in the sense that they will start using CEX as bank once again, not learning much by mistake of others. But this was kinda expected anyway, since Mt.Gox fail didn't teach people much so why should FTX.

The worst case of FTX will never be forgotten in crypto history but the effects of its impact have been slowly forgotten because the crypto market is not tied to the FTX case unless only those FTX victims have experienced high losses, but some of them will recover losses from Bitcoin investment assets for the long term. So every FTX case has an important lesson to be careful in managing your assets, invest only in Bitcoin and avoid buying hype coins and don't save funds on exchanges, if from the start everyone follows these steps then until now no one has been harmed by the impact of fraud cases and hacking on crypto.

it will not be the last failure or drama in this market. but people move on and they find a way how to make the most out of this market. if they will give up, they won't recover their losses. you need to keep going if you want to win on this market. learn the ropes and invest on valuable projects.

erep

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Quote from: Rikafip on January 27, 2023, 10:24:50 AM

Quote from: crashedanon on January 27, 2023, 04:29:23 AM

FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

While I do agree that people are slowly forgetting about FTX, its not necessarily a good thing in the sense that they will start using CEX as bank once again, not learning much by mistake of others. But this was kinda expected anyway, since Mt.Gox fail didn't teach people much so why should FTX.

The worst case of FTX will never be forgotten in crypto history but the effects of its impact have been slowly forgotten because the crypto market is not tied to the FTX case unless only those FTX victims have experienced high losses, but some of them will recover losses from Bitcoin investment assets for the long term. So every FTX case has an important lesson to be careful in managing your assets, invest only in Bitcoin and avoid buying hype coins and don't save funds on exchanges, if from the start everyone follows these steps then until now no one has been harmed by the impact of fraud cases and hacking on crypto.

cryptocoupons

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It is understandable that some people may have lost trust in the cryptocurrency market after recent events such as the FTX issue, and it is their personal choice whether or not they want to continue investing in crypto. However, it is important to recognize that the market is constantly evolving and there are still many opportunities for those who are willing to do their own research and make informed decisions.

Rikafip

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Quote from: crashedanon on January 27, 2023, 04:29:23 AM

FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

While I do agree that people are slowly forgetting about FTX, its not necessarily a good thing in the sense that they will start using CEX as bank once again, not learning much by mistake of others. But this was kinda expected anyway, since Mt.Gox fail didn't teach people much so why should FTX.

Quote from: crashedanon on January 27, 2023, 04:29:23 AM

What negative do you think is coming about bitcoin next?

If you are talking about bitcoin price, probably the most important thing is the economic situation in the world and war in Ukraine. The last time there was a recession Bitcoin wasn't invented yet so we have no idea how will that affect the price.

m2017

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Bitcoin is first of all a tool and to refuse it only because of the collapse of FTX drama is very stupid. No one refuses kitchen knives just because it can cut themselves. If you don't know how to use the tool properly, then these are only your problems and not a reason to shout about it to the whole world that you need to give it up. So I understand your confusion about youtube videos and twitter posts spreading panic. It seems to me that these bloggers are just trying to hype on the theme of FTX fall in order to attract more views and subscribers, and, accordingly, it is better to monetize. They feel that their words will find an emotional response in the people affected by FTX and use this for their own selfish purposes.

8rch7

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Quote from: Daltonik on January 27, 2023, 06:08:38 AM

Quote from: crashedanon on January 27, 2023, 04:29:23 AM

FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

What negative do you think is coming about bitcoin next?

Bitcoin itself is unlikely to be threatened by anything and its prospects are bright, but the community has always reacted and will always do so, statements and pressure from regulators and their actions will have an impact, well, the excessive dominance of CEX will also have an impact.

It is true that bitcoin will not be affected by anything, including the bankruptcy of FTX a few months ago, except for the one related to the FTX exchange, but we also have to realize that the bankruptcy of FTX which has a valuation of $32 billion USD, the impact is very far-reaching because it could bring down dozens of other financial institutions , some of the money is stuck in FTX, some are bankrupt because FTX doesn't want to be responsible for saving their company, but bitcoin itself is still safe and hasn't been affected by FTX's bankruptcy.

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Quote from: ilovealtcoins on January 15, 2023, 11:32:24 AM

If you don't leave your coins and don't lose money on them, then there's no reason for you to be upset about the demise of FTX. I've never used FTX so even if it crashes it doesn't affect me. Your portfolio loses value because you have invested too much in altcoins or you do not use idle money to invest. Crypto winter is bound to happen whether FTX crashes or not, you didn't prepare well for it.

There kind of is; It does effect all of us as it effects the consumers confidence in Bitcoin. If we keep having these headlines, because people continue to use these sorts of services, and the headlines show that most of these exchanges seem to be run by people looking to exploit their customers, then it does effect us all.

We don't need these types of people running companies that operate with Bitcoin, and we definitely don't need these types of headlines every few years. It might not be obvious in the long term, because a lot of us forget about it, but it does stunt growth, and adoption for quite a while after. Would we have seen such dips in price if this didn't happen? It's hard to be absolutely sure, but I imagine there's a element of truth to that.

Daltonik

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Quote from: crashedanon on January 27, 2023, 04:29:23 AM

FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

What negative do you think is coming about bitcoin next?

Bitcoin itself is unlikely to be threatened by anything and its prospects are bright, but the community has always reacted and will always do so, statements and pressure from regulators and their actions will have an impact, well, the excessive dominance of CEX will also have an impact.

crashedanon

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FTX drama seems to melt down from people's minds now and we are seeing good recovery signs in the market [ in the long term ].

What negative do you think is coming about bitcoin next?

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Quote from: Desmong on January 23, 2023, 05:36:42 PM

Anybody that choose to stay away from cryptocurrency because of the mistakes they had made will be a wrong decision for the to leave the cryptocurrency market entirely. There is no level in our lives that we can't make a mistake that is while we should be more open to adjust and learn so that we can make a better decisions that would work for us.

The thread title perfectly States the reality. What we came across with FTX is a drama. What happened was big collapse in the market and the same had the impact on bitcoin market. This is the common understanding, even if the FTX collapse hadn't taken place we will be sitting at the present value of bitcoin. Only then it is possible to experience gradual growth and reach big connected to halving.

Desmong

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Anybody that choose to stay away from cryptocurrency because of the mistakes they had made will be a wrong decision for the to leave the cryptocurrency market entirely. There is no level in our lives that we can't make a mistake that is while we should be more open to adjust and learn so that we can make a better decisions that would work for us.

Daltonik

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The former founder of FTX, Sam Bankman-Freed, had assets worth just over $ 698 million seized, the bulk of the value is accounted for by a block of shares that SBF acquired in Robinhood of only 55 million shares, which is 7.6% of their total offer, at a price per share of $9.52, their total value is $526 million, for the acquisition which he allegedly used stolen FTX customer funds

Source: https://decrypt.co/119695/feds-seize-about-700m-ftx-sam-bankman-fried-assets
https://www.cnbc.com/2023/01/20/feds-seize-almost-700-million-of-sam-bankman-frieds-assets-in-cash-and-equity.html

ilovealtcoins

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Quote from: Deddyhoku on January 15, 2023, 05:50:02 AM

It's hard to stay neutral when you see how many projects are connected with FTX. Actually, i don't care about this exchange as it is, but red charts makes me feel sad usually

If you don't leave your coins and don't lose money on them, then there's no reason for you to be upset about the demise of FTX. I've never used FTX so even if it crashes it doesn't affect me. Your portfolio loses value because you have invested too much in altcoins or you do not use idle money to invest. Crypto winter is bound to happen whether FTX crashes or not, you didn't prepare well for it.

Deddyhoku

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It's hard to stay neutral when you see how many projects are connected with FTX. Actually, i don't care about this exchange as it is, but red charts makes me feel sad usually

klidex

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Quote from: mich on December 22, 2022, 12:41:46 AM

Well it is nice to know there is some money left but if you had money in FTX and think you are going to get any then you are going to be upset when reality sets in. That money will go to other people before the small guy who has a few hundred in there sees his money.

Hell people are still waiting for their investments from Mt gox and this was from 2014! And even if someone who got scammed by FTX does want to get their money there is so many other people way ahead of you in the line wanting to claim their stolen funds. I am lucky enough to not have had any money in there but I still feel awful for honest people who got scammed by him.

It is true that from the FTX case in the future there will be some people who did invest in FTX to ask for their assets to be returned with an amount that is more than what they had.
Perhaps small investors will never get a return on the assets they have lost.
And what will happen in the future is just commotion and blaming each other to be able to manipulate and ask for each other's assets.
In the past, I was shocked and couldn't believe that one of the biggest and most trusted platforms like FTX would collapse and take actions that would be very detrimental to many people.

8rch7

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Quote from: fennic on December 15, 2022, 11:51:25 AM

There are many reasons behind people are just panicking because news is a thing that makes people fear and the start to panic and than the go for sale orders. In this way they are able to crash market. SBF arrest is a big concern cause he was a big celebrity and his exchange was among one of the popular exchanges too. That makes people more fear cause they do not have to trust anyone.
FTX attracted many big investors loosing billions of dollars and that was not good.

It is undeniable that the impact of the FTX bankruptcy is huge, because it can create investor fear of cryptocurrencies. Historically, many crypto companies have collapsed even though their bankruptcy figures are not as big as FTX mt.goak and cryptopia, the FTX case so far has owed US$ 3 billion to creditors, we must learn from every problem that comes, because if we entrust our funds to third parties, it is certain that the funds we save are not entirely our rights, we could be deceived by the company.

Topic: FTX drama stressing people for no reason | How to stay neutral (Read 1496 times)