Topic: The leader of the collapse of the currency circle - page 2. (Read 336 times)

with so many people who are sad because they lost money, guessing what the next misfortune will be, I think it's not something anyone would want to do in a time like this, if we were talking about a few months from now when people had already forgotten about this case maybe it would even make sense to try to predict what the next disaster would be, but now is a bad time for that, there is constantly new bad information about the FTX case for example today I read that the Kraken exchange froze accounts related to FTX and Alameda, I got I ask: where will this all end?

Does it even matter who will be next? Any of the large and mid-sized CEXs that find themselves in serious trouble will cause disruptions in the crypto market. And I don't know why you call CZ a hero? Maybe because he was only apparently trying to save the company that started to sink, but in fact at the same time he was just cutting ties with it so that there would be as little damage as possible for his company.

Apart from that, is there anything serious about someone doing due diligence in 24 hours and saying that he changed his mind because the results are not satisfactory? Such things last for weeks or months and are not carried out in one day, so I would conclude that it is one thing to play the hero, and quite another to be the hero.

to clarify

FTX.us and FTX international was not the largest firm based on customer numbers. its said that there are under 1.2m creditors/customers combined (some say under 200k in just the international part)

where as coinbase for instance supposedly has 60m customers..

but FTX international customers are not the normal users of 'minnow'' trade amounts/volume.. FTX.us/ftx international was a low user number but of large whale volume/investment amount

(however math suggest 1.2m customer in a portfolio of $10b-$50b is only $10k-$50k average invested in the FTX portfolio per user)

these whales did include the likes of binance and even kevin o'leary(sharktank) https://www.youtube.com/watch?v=BxEFYqbOchc

many businesses (not small citizen level investors) had money in FTX international.

so we could see some knock on affect of other businesses

.. many people have been shouting about a binance downfall.. but binance  stepped out of its investment before the rug got pulled. i can understand other investors would be mad that binance jumped before telling them.. and then going public before telling fellow investors. but i dont see binance breaking due to FTX, they got out early and safe

FTX is sister of DCG which is mother of coinbase, paxos, greyscale and multiple other exchanges. i feel they got their profits/stake out months ago too because SBF was buddy buddy with DCG ceo (however i could be wrong)

..
we may actually see scenarios of companies/exchanges not collapsing but using this event to rubber stamp their fiat accounting to do a "paper loss" as their tax avoidance methods on the profits they actually achieved earlier in the year

Crypto.com was in the news today as they had moved around 400 million of their money that showed that the money was not in cold wallets as they did promise to their customers but it was in hot wallets thus it is advisable to remove and withdraw any coin anyone might have on this platform.I just read the news now in this link.Again these are rumors but the fact that they moved around 82% of their Eth reserves to a wallet linked to Gate.io adds to this drama.

https://www.investing.com/news/cryptocurrency-news/cryptocom-native-token-plummets-as-ftx-collapse-fuels-contagion-fears-2942505

I can't guess which the next exchanges or platform will collapsed, but what I know is every centralized exchange, lending platform, staking platform, and the other centralized sites will collapse in the future including Binance. This because centralized sites are very vulnerable and hacker will try anyway in order to access the sites. If no one still don't care with not your keys, not your coins, sooner or later their coins would be gone.

I don't know the story here but I wouldn't even begin to consider CZ a "hero" since he is the same person who was offering payment to bitcoin mining pools in order to perform a 51% attack on bitcoin blockchain. All because his shitty platform was hacked and he wanted the money back.

The only people who knows what's really happening are people in the backlines close to FTX/Alameda. Everything we see on Twitter are just theories for now, and nothing has been proven yet. I'm betting that FTX/Alameda just took too much risk — to the point that it was totally retarded.

As for who will be next, heavy rumours on CryptoCom and Gateio. But then again, rumours.

In November 2022, another unforgettable moment, Changpeng Zhao of Binance became the first hero to blow the whistle. FTT thunderstorm, who will be next? Let us make a bold guess, and SBF, Is this an emergency or a political conspiracy? There are too many scripts on Twitter, do any of the big names in the forum know the truth?