What are the chances of FTX raising funds...

ginsan

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Quote from: Jating on December 09, 2022, 03:26:25 PM

Binance is out of the picture already, they are not willing to help FTX because it will be a disaster for them.

US congress is now looking to have a hearing from the man himself, SBF but it seems that he doesn't want to cooperate and says that he will do it if he has all the data in front of him. Not sure if this will sit well with the congressman because he seems to be defiant and well connected to those politicians as high as the US president because he is a huge donor of him.

Binance is out and it's a good choice for them considering what happened to Ftx was so detrimental to the crypto industry that it shouldn't be a pity for other project teams to raise money for Ftx. The Ftx congress has a lot going on because it has a direction that can be played in the congress, in other words, he has the opportunity to say unexpected things to release all the accusations that point at him.

I saw the SBF, he showed several influential people for the congress even in one article I read the US congress will investigate the chairman of the Sec related to Ftx https://cryptroll.id/kongres-as-minta-ketua-sec-diperiksa-terkait-ftx/

Fara Chan

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Quote from: CageMabok on December 09, 2022, 07:30:29 AM

What makes the market go up or has more price increases for all cryptocurrencies in the market is not FTX. Because in the past I saw that the increase in prices that occurred in cryptocurrencies was due to so many buyers and investors coming into the market that there was very little relationship with the exchange. But for now, where investors have started to withdraw from the exchange due to the FTX case, market conditions will not only improve when FTX can be recovered in any way.

I also don't see it being fully influenced by exchanges, let alone only dealing with one problematic exchange such as FTX, generally there is an increase in the market due to investors and buyers entering the market.

And it seems difficult for FTX to restore people's trust, let's assume they intend to take responsibility for returning user funds, but the problem is whether this can be trusted?
The death of FTX is becoming more and more obvious and finding a seat point for a centralized exchange, thus forcing people to no longer believe in any centralized exchange going forward.

Jating

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Quote from: Lubang Bawah on December 09, 2022, 06:03:43 AM

Quote from: AmoreJaz on December 07, 2022, 06:11:46 PM

Quote from: Vinaa77 on December 07, 2022, 05:58:26 PM

Quote from: Joshapat on November 30, 2022, 08:14:50 AM

FTX has officially registered bankruptcy and the court provides time to find investors or sponsors who will finance FTX, of course it is not easy to find investors who need at least $ 5 billion, they prefer to build new projects rather than having to finance FTX which will be difficult to get a second life.

$5 billion dollars is a pretty big number. In fact, many previously developed projects never found investors until as much as $5 billion was raised. This is something that is difficult for FTX to overcome. Maybe the solution is for them to transfer the ownership status of the company to another party. If this method is carried out, of course many people will be willing to offer their company. But if they are waiting for new investors under the pretext of profit sharing, investors feel unsure, or doubt the sustainability of the FTX company.

but there are ready to give billions in aids like justin sun as per this article . also from OKX and Tether group, claiming to have raised $1B each from these companies. so he has already $3B, don't know now the current status of their raising funds. if they can raise $3B from just 3 companies, they would surely get the remaining from other small investors.

Until now there has been no official news that the collection will be used by FTX, I also hear the news that Binance also prepared $ 2 billion to help FTX, although this looks difficult but we really hope that FTX can recover, making the market rise immediately. But I'm sure they will think again to save FTX which already have a bad reputation.

Binance is out of the picture already, they are not willing to help FTX because it will be a disaster for them.

US congress is now looking to have a hearing from the man himself, SBF but it seems that he doesn't want to cooperate and says that he will do it if he has all the data in front of him. Not sure if this will sit well with the congressman because he seems to be defiant and well connected to those politicians as high as the US president because he is a huge donor of him.

CageMabok

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Quote from: Lubang Bawah on December 09, 2022, 06:03:43 AM

Until now there has been no official news that the collection will be used by FTX, I also hear the news that Binance also prepared $ 2 billion to help FTX, although this looks difficult but we really hope that FTX can recover, making the market rise immediately. But I'm sure they will think again to save FTX which already have a bad reputation.

What makes the market go up or has more price increases for all cryptocurrencies in the market is not FTX. Because in the past I saw that the increase in prices that occurred in cryptocurrencies was due to so many buyers and investors coming into the market that there was very little relationship with the exchange. But for now, where investors have started to withdraw from the exchange due to the FTX case, market conditions will not only improve when FTX can be recovered in any way.

peter0425

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Quote from: Joshapat on December 07, 2022, 09:27:06 PM

Several times I saw SBF interviewed and he said that the loss of FTX was due to a lot of asset values that dropped so he lost all money, of course this is a classic reason and he is not an investor who has to lose money because the price of crypto drops, but as an exchanges service, of course only accepts only Fee of transaction costs, and from here we can conclude that investors will be very difficult to get money.

reason will keep popping from their side but the truth will never prevail so lets assume that what they said is true but would this give back the losses of their investors? I'm afraid not so trust nothing from this team and move on , if you are a loser then there will be other one that suits your desire of profit.

Lubang Bawah

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Quote from: AmoreJaz on December 07, 2022, 06:11:46 PM

Quote from: Vinaa77 on December 07, 2022, 05:58:26 PM

Quote from: Joshapat on November 30, 2022, 08:14:50 AM

FTX has officially registered bankruptcy and the court provides time to find investors or sponsors who will finance FTX, of course it is not easy to find investors who need at least $ 5 billion, they prefer to build new projects rather than having to finance FTX which will be difficult to get a second life.

$5 billion dollars is a pretty big number. In fact, many previously developed projects never found investors until as much as $5 billion was raised. This is something that is difficult for FTX to overcome. Maybe the solution is for them to transfer the ownership status of the company to another party. If this method is carried out, of course many people will be willing to offer their company. But if they are waiting for new investors under the pretext of profit sharing, investors feel unsure, or doubt the sustainability of the FTX company.

but there are ready to give billions in aids like justin sun as per this article . also from OKX and Tether group, claiming to have raised $1B each from these companies. so he has already $3B, don't know now the current status of their raising funds. if they can raise $3B from just 3 companies, they would surely get the remaining from other small investors.

Until now there has been no official news that the collection will be used by FTX, I also hear the news that Binance also prepared $ 2 billion to help FTX, although this looks difficult but we really hope that FTX can recover, making the market rise immediately. But I'm sure they will think again to save FTX which already have a bad reputation.

Joshapat

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Several times I saw SBF interviewed and he said that the loss of FTX was due to a lot of asset values that dropped so he lost all money, of course this is a classic reason and he is not an investor who has to lose money because the price of crypto drops, but as an exchanges service, of course only accepts only Fee of transaction costs, and from here we can conclude that investors will be very difficult to get money.

OgNasty

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Unlike that Shark Tank guy (I forget his name) I don’t believe there is any chance that anyone in their right mind will hand over billions of dollars to Sam now that the cat is out of the bag that he’s just a bad scammer and not a trading genius. Before people thought he was this altruistic guy with tons of money, but it’s clear now that he was a con artist obsessed with creating a false image of himself. It will be a miracle if he avoids jail and if FTX raises the funds they need, you can be sure the money is as dirty as can be.

AmoreJaz

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Quote from: Vinaa77 on December 07, 2022, 05:58:26 PM

Quote from: Joshapat on November 30, 2022, 08:14:50 AM

FTX has officially registered bankruptcy and the court provides time to find investors or sponsors who will finance FTX, of course it is not easy to find investors who need at least $ 5 billion, they prefer to build new projects rather than having to finance FTX which will be difficult to get a second life.

$5 billion dollars is a pretty big number. In fact, many previously developed projects never found investors until as much as $5 billion was raised. This is something that is difficult for FTX to overcome. Maybe the solution is for them to transfer the ownership status of the company to another party. If this method is carried out, of course many people will be willing to offer their company. But if they are waiting for new investors under the pretext of profit sharing, investors feel unsure, or doubt the sustainability of the FTX company.

but there are ready to give billions in aids like justin sun as per this article . also from OKX and Tether group, claiming to have raised $1B each from these companies. so he has already $3B, don't know now the current status of their raising funds. if they can raise $3B from just 3 companies, they would surely get the remaining from other small investors.

Vinaa77

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Quote from: Joshapat on November 30, 2022, 08:14:50 AM

FTX has officially registered bankruptcy and the court provides time to find investors or sponsors who will finance FTX, of course it is not easy to find investors who need at least $ 5 billion, they prefer to build new projects rather than having to finance FTX which will be difficult to get a second life.

$5 billion dollars is a pretty big number. In fact, many previously developed projects never found investors until as much as $5 billion was raised. This is something that is difficult for FTX to overcome. Maybe the solution is for them to transfer the ownership status of the company to another party. If this method is carried out, of course many people will be willing to offer their company. But if they are waiting for new investors under the pretext of profit sharing, investors feel unsure, or doubt the sustainability of the FTX company.

wxa7115

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Quote from: SquallLeonhart on December 02, 2022, 03:50:33 AM

Quote from: wxa7115 on November 30, 2022, 11:47:02 PM

Everyone can understand that the people which lost so much money over this do not want to accept the reality and they want to recover the money they lost, but it is not going to happen, it is going to take years for them to see any money out of whatever assets FTX still has left.

And obviously this is only going to be a fraction of what they are owed, so this is going to end up being a very expensive lesson for all of them, and while I hope this never happens again I am sure that it will.

It is obvious that people may deny the reality, but that doesn't change the facts and that is the sad part. The fact is that FTX is gone, they stole your money and it will not be coming back, that is the truth and it will not change, it is as real as 2+2=4 and as solid of an answer.

However, I do understand the psychology involved with losing all of your money, we are talking about billions of dollars gone, which was peoples money, and not everyone invested small amounts, some invested their whole life savings there, so it's very difficult to accept their faith and move on, that was their 20-30 years of work result, so it's very sad.

Which is why I can understand they are in denial, which is a very common psychological response when facing a reality that is so harsh that it is difficult to accept.

But at the end they will have to accept it as they have no other choice, however it is very sad, it was not long ago when we had people that lost everything when Luna crashed, and now we have another group of people going through the same, while many others wonder when it will be their turn?

SquallLeonhart

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Quote from: wxa7115 on November 30, 2022, 11:47:02 PM

Everyone can understand that the people which lost so much money over this do not want to accept the reality and they want to recover the money they lost, but it is not going to happen, it is going to take years for them to see any money out of whatever assets FTX still has left.

And obviously this is only going to be a fraction of what they are owed, so this is going to end up being a very expensive lesson for all of them, and while I hope this never happens again I am sure that it will.

It is obvious that people may deny the reality, but that doesn't change the facts and that is the sad part. The fact is that FTX is gone, they stole your money and it will not be coming back, that is the truth and it will not change, it is as real as 2+2=4 and as solid of an answer.

However, I do understand the psychology involved with losing all of your money, we are talking about billions of dollars gone, which was peoples money, and not everyone invested small amounts, some invested their whole life savings there, so it's very difficult to accept their faith and move on, that was their 20-30 years of work result, so it's very sad.

Crypto Legend

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The news that I heard is that FTX will sell the property used for FTX employees, although it cannot cover the losses or investors' money, but this is a good sign that they are serious about making FTX rise again, we are waiting for what the FTX acquisition company plans can occur.

wxa7115

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Quote from: virasog on November 28, 2022, 01:13:33 PM

Quote from: Semar Mesem on November 27, 2022, 09:44:38 AM

According to the latest news, FTX has given up fighting against opinions and facts, so it chose to file for bankruptcy in court, of course this is the best step even though it makes many investors and consumers lose money, an important lesson for exchanges owners not to manipulate data.

When a company files bankruptcy, it means they do not have the funds to repay the customers and also they are unable to find the investors who could support the company. Filling a bankruptcy means that its the end for FTX and there is no hope left.
I know there are many people whose funds are stuck at FTX still believe that one day they will re-open withdrawals and they will be able to cash out. As per the recent situation and circumstances, these seems impossible for now that FTX will recover.

Everyone can understand that the people which lost so much money over this do not want to accept the reality and they want to recover the money they lost, but it is not going to happen, it is going to take years for them to see any money out of whatever assets FTX still has left.

And obviously this is only going to be a fraction of what they are owed, so this is going to end up being a very expensive lesson for all of them, and while I hope this never happens again I am sure that it will.

Joshapat

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FTX has officially registered bankruptcy and the court provides time to find investors or sponsors who will finance FTX, of course it is not easy to find investors who need at least $ 5 billion, they prefer to build new projects rather than having to finance FTX which will be difficult to get a second life.

rodskee

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Quote from: Pierre 2 on November 28, 2022, 03:20:20 AM

I think they can. It would take adventurous investors that are ready to waste millions of dollars. Never underestimate how people can create disasters. This type of situations happened many times in history.

but the chances are tin comparing if this still in active trading and did not experience the disaster they have recently as now? only risk taker that will try this opportunity because there are thousand of percent this will end up losing their funds.
I'm not sure if how many of us that wanted to create disaster but what I only knew is that investors nowadays are more on practical than traditional or risk taker.

virasog

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Quote from: Semar Mesem on November 27, 2022, 09:44:38 AM

According to the latest news, FTX has given up fighting against opinions and facts, so it chose to file for bankruptcy in court, of course this is the best step even though it makes many investors and consumers lose money, an important lesson for exchanges owners not to manipulate data.

When a company files bankruptcy, it means they do not have the funds to repay the customers and also they are unable to find the investors who could support the company. Filling a bankruptcy means that its the end for FTX and there is no hope left.
I know there are many people whose funds are stuck at FTX still believe that one day they will re-open withdrawals and they will be able to cash out. As per the recent situation and circumstances, these seems impossible for now that FTX will recover.

suzanne5223

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Quote from: bestcoins1 on November 28, 2022, 11:45:58 AM

Quote from: Semar Mesem on November 27, 2022, 09:44:38 AM

According to the latest news, FTX has given up fighting against opinions and facts, so it chose to file for bankruptcy in court, of course this is the best step even though it makes many investors and consumers lose money, an important lesson for exchanges owners not to manipulate data.

Where did you get the latest news from? As FTX exchange gives up or not, they also have to basically solve every problem they are currently facing if they are to still stand as a good exchange in the crypto space. Because without solving all the problems they are facing, FTX will slowly die because there will be no more people who believe in the exchange in the future.

According to what I also read. It is true that the FTX exchange filed for bankruptcy in court but that doesn't mean they are not planning to solve every problem they are currently facing.
Filing for bankruptcy is another way the exchange public announcement that they are having a problem and are ready to do what it takes to solve it. Besides, the U.S. Bankruptcy Court for the District of Delaware (the "Delaware Federal Court") granted interim and final approvals for all of the "First Day" motions related to the FTX Debtors and currently moving forward as expeditiously as possible in our efforts to maximize value for all FTX stakeholders.

There's no way they are going to give up everything when the US SEC and the Bahamas Attorney General, etc have already stepped into the issue.

S A KHAIR

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Quote from: bestcoins1 on November 28, 2022, 11:45:58 AM

Quote from: Semar Mesem on November 27, 2022, 09:44:38 AM

According to the latest news, FTX has given up fighting against opinions and facts, so it chose to file for bankruptcy in court, of course this is the best step even though it makes many investors and consumers lose money, an important lesson for exchanges owners not to manipulate data.

Where did you get the latest news from? As FTX exchange gives up or not, they also have to basically solve every problem they are currently facing if they are to still stand as a good exchange in the crypto space. Because without solving all the problems they are facing, FTX will slowly die because there will be no more people who believe in the exchange in the future.

Solving? I think it's all over and what they're doing is buying time to calm things down. The death of FTX will not affect other exchanges, remember what Mt.gox did and people will gradually forget about these incidents. Basically, we can't stop using centralized exchanges, so like it or not, we'll still use exchanges.

bestcoins1

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Quote from: Semar Mesem on November 27, 2022, 09:44:38 AM

According to the latest news, FTX has given up fighting against opinions and facts, so it chose to file for bankruptcy in court, of course this is the best step even though it makes many investors and consumers lose money, an important lesson for exchanges owners not to manipulate data.

Where did you get the latest news from? As FTX exchange gives up or not, they also have to basically solve every problem they are currently facing if they are to still stand as a good exchange in the crypto space. Because without solving all the problems they are facing, FTX will slowly die because there will be no more people who believe in the exchange in the future.

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