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.

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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.

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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.

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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.

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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.

Pierre 2

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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.

Quidat

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Quote from: DudeAtWork420 on November 27, 2022, 12:50:00 PM

SBF is a sick person and he is just trying to making story to get people sympathy. Why would someone invest in a exchange that is manipulated in technology and bankrupted. FTX is gone with investors money and that is the truth we have to accept. One thing the authority can do is seize SBF's all the wealth and company share and compensate affected investors.

Compensate?

Thats easy to say but who would really be the one will really be obliging theirselves on compensating those users or investors had been affected? other than FTX itself.
Now speaking about raising funds? They are really having that thick face of theirs considering such step after all the things that had been done.
They had broken out that trust from the community specially into its investors or users which it is really that hard to trust them up again.
Now on speaking about on whats on mind on most people is that SBF should really be imprison for all of the things that he had done.
For users then its better not to expect something like recovery because its impossible.

DudeAtWork420

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SBF is a sick person and he is just trying to making story to get people sympathy. Why would someone invest in a exchange that is manipulated in technology and bankrupted. FTX is gone with investors money and that is the truth we have to accept. One thing the authority can do is seize SBF's all the wealth and company share and compensate affected investors.

Semar Mesem

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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.

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Quote from: jaberwock on November 24, 2022, 03:48:03 PM

Quote from: fuguebtc on November 24, 2022, 07:05:29 AM

How will they get over it? they have deceived customers by illegally using client funds and causing serious deficit of the exchange's budget. Their hack happened right after the exchange stopped withdrawing funds for investors and I believe the mastermind is none other than SBF. FTX has a budget deficit of up to 8 billion dollars, I think no one is brave enough to give money to SBF again, binance is the only hope but they flatly refused. If FTX can pass, I believe that no one will dare to use it anymore, trust cannot be bought, once trust is lost, there is no way to restore it.

The good factor for FTX is the fact that they could literally stop being an exchange and still profit from all the companies they bought. However, 8 billion dollars to be paid to customers cannot be found anywhere, and their companies do not worth that much neither.

This means, they will need that money, pay customers back, and hope that the companies they have make enough income to pay the debt back. That’s not going to be an easy ask to any bank or any investor, plus the amount is huge enough that only a few places in the world could ever afford it, so you would have to pull it apart, like find 16 investors with 500 million for example type of deal, that’s even harder.

Your solution is not so bad but like I said, who would be brave enough to keep giving such a large amount of money to SBF again, with what he did and if you were you would you be willing to spend a lot of money on such an irresponsible, unethical person? I bet you won't and no one will dare to do that stupid thing again. The consequences of the FTX crash are certainly huge but let it happen and we'll get through it all without saving those who don't deserve it.

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Quote from: fuguebtc on November 24, 2022, 07:05:29 AM

How will they get over it? they have deceived customers by illegally using client funds and causing serious deficit of the exchange's budget. Their hack happened right after the exchange stopped withdrawing funds for investors and I believe the mastermind is none other than SBF. FTX has a budget deficit of up to 8 billion dollars, I think no one is brave enough to give money to SBF again, binance is the only hope but they flatly refused. If FTX can pass, I believe that no one will dare to use it anymore, trust cannot be bought, once trust is lost, there is no way to restore it.

The good factor for FTX is the fact that they could literally stop being an exchange and still profit from all the companies they bought. However, 8 billion dollars to be paid to customers cannot be found anywhere, and their companies do not worth that much neither.

This means, they will need that money, pay customers back, and hope that the companies they have make enough income to pay the debt back. That’s not going to be an easy ask to any bank or any investor, plus the amount is huge enough that only a few places in the world could ever afford it, so you would have to pull it apart, like find 16 investors with 500 million for example type of deal, that’s even harder.

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

Looks like SBF is at it again and basically trying to lure investors into investing into FTX. He is looking to raise +$6B or so. I think he is trying to sell some FTX bonds which are paying 10% per year for 3 years and then converted into common stock.

Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.

They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

I give this 10% chance of succeeding....

I would give 0% chance of succeeding. Also even if FTX will try to raise the funds, I am still not confident that they will be able to recover the people's money. FTX hack and drama is a nightmare for people who stored a lot of funds in that exchange. Also, those who invested in ftt tokens are in a severe loss.

Let's suppose FTX comes back, will you be confident to deposit and start trading there ? Even with the new CEO of FTX, i will never ever go back to FTX. I am done with it and accepted that my loss can never be recovered.

CageMabok

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Quote from: 19Nov16 on November 24, 2022, 01:41:58 AM

The price of FTX continues to decline and is likely to be below $ 0 in December, FTX must immediately look for large investors who can restore investor confidence, Luna is trying to rise even though it is still very difficult to recover, but top exchanges with millions of users should be easier to find investors so that market can rising again.

FTX still needs more time to tempt new investors to want to enter FTX, because old investors must still be traumatized to enter FTX and invest there again. But before FTX can get new investors for themselves, it's better if FTX wants to improve themselves to be better than before because this is very related to their trust from investors.

Because changing the mindset of investors who have a bad opinion of FTX at this time is not an easy job for FTX, moreover they have to take a new option by looking for more new investors who don't know about the problems that have happened to FTX and that is something that is very difficult for FTX to obtain because their problem has been widely spread in large and well-known media.

Yatsan

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It could still recieve support from its users especially those who were in that exchange for years. But unfortunately it won't be the same, obviously. What happened is still fresh and things might go the opposite such that just wasting time and money without people actually being one with them. A sincere apology would be first acknowledged if they are really regretting what happened. But if sincerity won't be seen, they should not waste effort of raising funds 'coz that won't work for sure.

Quote from: btc78 on November 24, 2022, 05:00:13 AM

Quote from: 19Nov16 on November 24, 2022, 01:41:58 AM

The price of FTX continues to decline and is likely to be below $ 0 in December, FTX must immediately look for large investors who can restore investor confidence, Luna is trying to rise even though it is still very difficult to recover, but top exchanges with millions of users should be easier to find investors so that market can rising again.

means one thing , that these 2 projects will never get to top again and after what happened? do we really expect this to return like there is nothing happened about scam?
lol this will die like what LUNA is tempting now.
I hate seeing such kind of expectation in this way because scam project must not be recovered .

Such scheme is present to many projects. To mention a few I know; cryptoblades, defipet (well yeah, I've witnessed it more on p2e era) wherein on the downfall of the game they will be tempting players for hope that the project will again rise . But things just continue like a cycle.

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Quote from: Vinaa77 on November 20, 2022, 05:11:16 PM

Quote from: adaseb on November 16, 2022, 03:44:04 PM

will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

But I'm sure FTX will be able to get through these difficult times. It's a great exchange, they will find investors who will pump the FTX price. They're hacked. Not committing fraud against investors, so that trust in the team is still well established even though people are already hesitant to use the exchange. Exchange hacking is nothing new. This has also been experienced by other exchanges, of course the exchange owner will find a solution in this case as was done by the previous exchanges.

How will they get over it? they have deceived customers by illegally using client funds and causing serious deficit of the exchange's budget. Their hack happened right after the exchange stopped withdrawing funds for investors and I believe the mastermind is none other than SBF. FTX has a budget deficit of up to 8 billion dollars, I think no one is brave enough to give money to SBF again, binance is the only hope but they flatly refused. If FTX can pass, I believe that no one will dare to use it anymore, trust cannot be bought, once trust is lost, there is no way to restore it.

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Quote from: wxa7115 on November 23, 2022, 10:16:59 PM

FTX does not have the assets or the money to do this, and it is unfair to expect for someone else to pay for such a thing when they are not responsible for this debacle, so at best those which lost money with FTX could recover a small percentage of their capital and then FTX will disappear.

I don't think anyone or the company will be fundraising to cover the loss because FTX should be responsible for recovering customer losses from the reserve fund and not submitting free fund request proposals to others, the reputation of the FTX exchange has been damaged and no one will want to partner with them and no fundraising approved unless it's just bullshit news, so don't expect FTX to recover and avoid FTT coin investment, don't expect coin to increase significantly like recovery of Luna coin price after dump.

btc78

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Quote from: 19Nov16 on November 24, 2022, 01:41:58 AM

The price of FTX continues to decline and is likely to be below $ 0 in December, FTX must immediately look for large investors who can restore investor confidence, Luna is trying to rise even though it is still very difficult to recover, but top exchanges with millions of users should be easier to find investors so that market can rising again.

means one thing , that these 2 projects will never get to top again and after what happened? do we really expect this to return like there is nothing happened about scam?
lol this will die like what LUNA is tempting now.
I hate seeing such kind of expectation in this way because scam project must not be recovered .

19Nov16

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The price of FTX continues to decline and is likely to be below $ 0 in December, FTX must immediately look for large investors who can restore investor confidence, Luna is trying to rise even though it is still very difficult to recover, but top exchanges with millions of users should be easier to find investors so that market can rising again.

wxa7115

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Bitcoin is GOD

Quote from: CryptoBuds on November 22, 2022, 05:47:57 AM

Quote from: wxa7115 on November 16, 2022, 10:04:08 PM

Quote from: CryptoBuds on November 16, 2022, 08:40:03 PM

Although on paper he has resigned as CEO of FTX, I believe he is still running things. As far as I know, the resignation is in his favor because if FTX does not raise capital to restore business, FTX will officially go bankrupt at that time as the CEO of FTX, he will not be able to start a new company or participate in any other projects. This is why he resigned shortly after FTX filed for bankruptcy, but if they can really successfully raise capital to get back in business, he will definitely return as CEO.

I really hope he fails to raise the money, we do not need people like him in the market since the only things he knows how to do is to deceive people, defraud them and to give a bad reputation to this market.

And while it is tragic the loss of money that all of those people which were deceived by him have suffered, we do not need even more people to lose their money as well, because even if he succeeded and saved FTX from disappearing, this will only raise the number of victims that will suffer at his hands in the future once this happens again.

I don't know if your thinking is correct or not, currently according to user statistics on FTX up to 1 million users and their debt is said to be 8 billion. That means a lot of people are losing money on it, which is a tragedy. If he can raise funds or find sponsors, I don't think shareholders will let him run the company again with what he did. So I hope someone will come forward to support or buy back FTX so investors have a chance to get their money back.

But this is not possible, believe me I would like for all the people that lost their money with FTX to recover it but this is not going to happen.

FTX does not have the assets or the money to do this, and it is unfair to expect for someone else to pay for such a thing when they are not responsible for this debacle, so at best those which lost money with FTX could recover a small percentage of their capital and then FTX will disappear.

CryptoBuds

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Quote from: wxa7115 on November 16, 2022, 10:04:08 PM

Quote from: CryptoBuds on November 16, 2022, 08:40:03 PM

Although on paper he has resigned as CEO of FTX, I believe he is still running things. As far as I know, the resignation is in his favor because if FTX does not raise capital to restore business, FTX will officially go bankrupt at that time as the CEO of FTX, he will not be able to start a new company or participate in any other projects. This is why he resigned shortly after FTX filed for bankruptcy, but if they can really successfully raise capital to get back in business, he will definitely return as CEO.

I really hope he fails to raise the money, we do not need people like him in the market since the only things he knows how to do is to deceive people, defraud them and to give a bad reputation to this market.

And while it is tragic the loss of money that all of those people which were deceived by him have suffered, we do not need even more people to lose their money as well, because even if he succeeded and saved FTX from disappearing, this will only raise the number of victims that will suffer at his hands in the future once this happens again.

I don't know if your thinking is correct or not, currently according to user statistics on FTX up to 1 million users and their debt is said to be 8 billion. That means a lot of people are losing money on it, which is a tragedy. If he can raise funds or find sponsors, I don't think shareholders will let him run the company again with what he did. So I hope someone will come forward to support or buy back FTX so investors have a chance to get their money back.

bitterguy28

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“FRX: Ferocious Alpha”

Quote from: Sir Legend on November 20, 2022, 05:17:52 AM

Although many are pessimistic that FTX can rise, but I think if FTX can prove all the plans that are on their social media it will create very high trust from investors, we will see if by the end of the year FTX will convince users or not

how this can rise after what happened ? FTX is going nowhere but to die and also this fund raising will bring nothing to anyone so why need to invest in this when the chance of dumping more is there .
I never believe this one and lucky that never that I trust some friends that tries me believing that this will be on top sooner because look at it now.

kotajikikox

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

I give this 10% chance of succeeding....

I'm not sure if this can even possible , 5% is not even an option because like what have said , he is not in charge so what is the purpose of this raising funds? most will only find this another form of scam attempt of at least close to that.

Quote from: jossiel on November 16, 2022, 06:47:09 PM

I believe that there are still few that would bite on this. Like, they're thinking that this is crypto and it can be dumped fast but the same as the opposite of it, recovery.

Those that have the funds and can afford to lose it for the second time around would take the gamble. But as for me, I'd never touch any of these shits from FTX/Alameda.

Investors are not that stupid mate , Not unless those who we can call risk taker but I doubt that there are even single of them that will take this .

Quote from: Lubang Bawah on November 21, 2022, 01:37:21 AM

FTX has officially registered bankruptcy and war with Binance, hopefully it ends, of course manipulation will be difficult to cover for a long time, in the past I also held and actively trading in FTX even when I was still named Liquid, but since the market drop I left FTX let alone the more expensive transaction costs .

this will not end that short time mate , FTX will not win against binance .

Lubang Bawah

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FTX has officially registered bankruptcy and war with Binance, hopefully it ends, of course manipulation will be difficult to cover for a long time, in the past I also held and actively trading in FTX even when I was still named Liquid, but since the market drop I left FTX let alone the more expensive transaction costs .

Vinaa77

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

But I'm sure FTX will be able to get through these difficult times. It's a great exchange, they will find investors who will pump the FTX price. They're hacked. Not committing fraud against investors, so that trust in the team is still well established even though people are already hesitant to use the exchange. Exchange hacking is nothing new. This has also been experienced by other exchanges, of course the exchange owner will find a solution in this case as was done by the previous exchanges.

posi

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Quote from: gurbar_nakub on November 20, 2022, 07:10:22 AM

Quote from: adaseb on November 16, 2022, 03:44:04 PM

Looks like SBF is at it again and basically trying to lure investors into investing into FTX. He is looking to raise +$6B or so. I think he is trying to sell some FTX bonds which are paying 10% per year for 3 years and then converted into common stock.

Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.

They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

I give this 10% chance of succeeding....

I give it 0%. It's basically an official Ponzi scheme and it involves using payment collected from new investors (FTX bonds) to pay off the earlier investors.

I agree that FTX has failed and there will be no chance of returning. However, it should be noted that FTX is not a ponzi scheme, as there is no proof or indication that FTX operates as a ponzi scheme. It was a centralized exchange and their downfall was due to their misuse of funds causing instability in their business or maybe this is a battle between rivals, unfortunately FTX lost. But I'm sure it's not a ponzi scheme.

AverageGlabella

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Quote from: Sir Legend on November 20, 2022, 05:17:52 AM

Although many are pessimistic that FTX can rise, but I think if FTX can prove all the plans that are on their social media it will create very high trust from investors, we will see if by the end of the year FTX will convince users or not

How would they retain their trust? They have made every single bad move in the book. They have deceived customers and they have deceived everyone in the crypto space. They are not promising things that they cannot deliver and I think Binance was their best opportunity to get out of this situation. That did not happen because Binance did not think it was beneficial so how would any other investors with prolly a smaller investment fund be convinced that they could save a exchange that prolly has a reputation similar to mt gox?

gurbar_nakub

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

Looks like SBF is at it again and basically trying to lure investors into investing into FTX. He is looking to raise +$6B or so. I think he is trying to sell some FTX bonds which are paying 10% per year for 3 years and then converted into common stock.

Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.

They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

I give this 10% chance of succeeding....

I give it 0%. It's basically an official Ponzi scheme and it involves using payment collected from new investors (FTX bonds) to pay off the earlier investors.

Beparanf

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Quote from: Sir Legend on November 20, 2022, 05:17:52 AM

Although many are pessimistic that FTX can rise, but I think if FTX can prove all the plans that are on their social media it will create very high trust from investors, we will see if by the end of the year FTX will convince users or not

Do you even know the full scope for the total loss FTX has? There’s a lot of project connected on it and probably the money being distributed on this project came from the funds of FTX users stuck now on the exchange since there’s no real asset backing on there balance. Whoever shit who will invest on FTX will carry the billion dollar debt of FTX with extra difficulty since they can’t be trusted anymore as CEX. There’s no future on this brand in my humble opinion.

MoonOfLife

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Quote from: Sir Legend on November 20, 2022, 05:17:52 AM

Although many are pessimistic that FTX can rise, but I think if FTX can prove all the plans that are on their social media it will create very high trust from investors, we will see if by the end of the year FTX will convince users or not

In my opinion, everything that happens from the news to their statements is just an act of buying time and distracting people. Once it has crashed there is no way to recover it. In the history of cryptocurrency, there has not been a project that has been able to recover and pay investors after the crash. It's all just a trick.

Sir Legend

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Although many are pessimistic that FTX can rise, but I think if FTX can prove all the plans that are on their social media it will create very high trust from investors, we will see if by the end of the year FTX will convince users or not

adaseb

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FTX released a statement today which sounded the opposite of what the liquidator said a few days back. They are saying that many of the companies that FTX ownes are not debtors. Such as ledgerx. So they think they can get some of their companies sold or restructure and perhaps resume operations which I find hard to believe.

A few days back the liquidator said he worked on Enron’s case and FTX is much worse and now he is saying he can restructure efficiently. No idea who to believe anymore.

cabron

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Quote from: stomachgrowls on November 18, 2022, 05:48:59 PM

Quote from: OgNasty on November 18, 2022, 01:06:46 PM

I don’t think people are stupid enough to trust FTX again, even though the celebrities caught with now worthless stakes in the company are acting like they would lend to Sam again, it’s clear they’re saying it only with the hope of being able to recover something. Likely these same people will be suing Sam once this mess is over and they will suddenly have a change of heart. Don’t touch FTT, don’t touch FTX, and if you’re lucky enough to have gotten your funds off of exchanges before all this happened, celebrate and get ready for the next shoe to drop.

Call them stupid but there would really be people who would be still trusting up this company despite of the disaster that they are experiencing now.Just like some people been saying above that the deal wasnt really that a bad offer after all on which there might be still someone who do get interest and would take a shot if ever this company would really be gaining trust up again but basing off on past or history
on exchanges who had been hacked or faced up some issues back in the past where they didnt able to recover which means if they do really mind off and think off
well in speaking with the risk then its impossible for them to consider on putting up some funds.

Stupid like Kevin Oleary who was asked if he'd still going to invest with SBF after all the mess. Kevin is definitely not into crypto based on what he said. The community will not ever trust again a company that caused people to lose funds.

But maybe he could get funds still. The media is now representing him as the victim to which its CZ caused the FTX to collapse. And CZ is represented by the media to be deeply connected to CCP. We are really going to see a twist soon.

MarjorieZimmermanGinger

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Quote from: Davian144 on November 18, 2022, 09:25:52 AM

I also see the FTX case which is slightly different from the cases that have happened to other exchanges in the past and yes Binance is still very good and is still very much trusted by many investors and traders as the best exchange that has existed and is still good until now. FTX is really facing a very different and big disaster at this time so I personally also don't know how FTX is able to solve its big problem at this time.

There are indications of fraud that FTX is trying to perpetrate through its tokens, the Alameda Research company actually filled the token value with a rather dubious amount and it is possible the asset was artificially strengthened, the doubts caused Binance to dump all of the token's value. This triggers others to panic and don't want to get into trouble, thereby simultaneously dumping the tokens on the market.

On closer inspection, this would be very difficult to recover from, and FTX is facing real bankruptcy, rumors circulated that FTX founder Sam Bankman Fried was beginning to be monitored by local police, for possible indications of his escape.

Wong Goblog

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After the ftx exchange incident, it makes us must always be vigilant, even the recommendation not to save money in exchanges is increasingly voiced by influencers, it is better to make exchanges for fast transactions that is when we deposit and then want to exchange and after completing then immediately pull it to the cold wallet have full control.

peter0425

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Quote from: adaseb on November 17, 2022, 11:10:36 PM

Another day has passed and the mess with FTX keeps getting weirder and weirder. Basically it was uncovered that sbf had like $1b that he loaned himself from FTX with user funds. Opened some shell company or whatever it’s called under some Paperbird Inc account.

Now there is word that the hacker of FTX was actually the Bahamian government which did it to protect the assets. Makes no sense since he sold assets on the market with huge slippage. Getting messier as the days go by.

If they are truly the hacker then there must be a sanction for this act? yeah they are only protecting their assets still this is hacking and not allowable by the laws?

Quote from: ?? on ??

Many say that Next Exchanges like FTX will happen again, of course this is a big shock that makes us have to be vigilant, even I have withdrawn all assets in Exchanges such as Binance, HitBTC and others.

if exchange will be hacked that easy then we have been hacked from long time, but also there is no way that we will allow our money inside exchange overnight , take it out after trading .

Kadal Ijo

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Yesterday FTX could rise more than 18% but now the price of dropping again is around 12%, I am not holding FTX and I sell when the price is around $ 6 or about 10 days ago, and in my opinion FTX makes investors very panic because they are afraid that there will be many exchanges which freeze assets or becomes a scam.

STT

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Companies which invest can write off losses against profits (tax deductibles etc.) and not suffer in the same way private investors would with their own money. Its risky but if they can see any upside such as gaining a customer base or some kind of crossover venture perhaps to reinvent the exchange I guess anything is possible. Nicehash lost everything right and somehow came back from that as I remember though I was surprised they did it

stomachgrowls

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Quote from: OgNasty on November 18, 2022, 01:06:46 PM

I don’t think people are stupid enough to trust FTX again, even though the celebrities caught with now worthless stakes in the company are acting like they would lend to Sam again, it’s clear they’re saying it only with the hope of being able to recover something. Likely these same people will be suing Sam once this mess is over and they will suddenly have a change of heart. Don’t touch FTT, don’t touch FTX, and if you’re lucky enough to have gotten your funds off of exchanges before all this happened, celebrate and get ready for the next shoe to drop.

Call them stupid but there would really be people who would be still trusting up this company despite of the disaster that they are experiencing now.Just like some people been saying above that the deal wasnt really that a bad offer after all on which there might be still someone who do get interest and would take a shot if ever this company would really be gaining trust up again but basing off on past or history
on exchanges who had been hacked or faced up some issues back in the past where they didnt able to recover which means if they do really mind off and think off
well in speaking with the risk then its impossible for them to consider on putting up some funds.

OgNasty

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I don’t think people are stupid enough to trust FTX again, even though the celebrities caught with now worthless stakes in the company are acting like they would lend to Sam again, it’s clear they’re saying it only with the hope of being able to recover something. Likely these same people will be suing Sam once this mess is over and they will suddenly have a change of heart. Don’t touch FTT, don’t touch FTX, and if you’re lucky enough to have gotten your funds off of exchanges before all this happened, celebrate and get ready for the next shoe to drop.

el kaka22

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Basically, not all of the news are true, some of them are made up so that people could get attention. If I wrote a story about how SBF just used all of the money on buying some island and had a deal with Panama and now he will live like ruler of that island with his friends and do whatever he want there and nobody will care as long as he pays money to Panama government, that would get some readers, it's easy, it’s a fake story I just made up, but it will get readers.

That’s why people do it, they want to get attention, either to turn that attention into money, or they want to make sure that they get attention just because they need it personally since they cannot get it anywhere else.

Davian144

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Quote from: MarjorieZimmermanGinger on November 17, 2022, 10:40:35 PM

Binance is a large exchange, they will not be involved in reputational affairs that will destroy the company they have built and it seems that unlike the Binance hacking case in the past with the case that happened to FTX, this is not affiliated with the case of Binance withdrawing from FTX. While FTX is really at stake and it is very difficult to restore its reputation.

I also see the FTX case which is slightly different from the cases that have happened to other exchanges in the past and yes Binance is still very good and is still very much trusted by many investors and traders as the best exchange that has existed and is still good until now. FTX is really facing a very different and big disaster at this time so I personally also don't know how FTX is able to solve its big problem at this time.

Quote

Talking about the law, there is a context to the two demands, the first is civil and the second is criminal. No one is able to explain which domain the FTX case falls into. What I understand is that if the FTX case falls into the civil category, then the payment of compensation will make them free from all charges, but it is different if FTX is faced with criminal charges.

I also can't give more comments about what kind of punishment will be very suitable for the FTX case, because I'm also not an expert in the field of law (both civil and criminal) so I still need some more research on this matter to be able to. concluding that the punishment is very suitable for a case like that experienced by FTX.

Ayers

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Quote from: adaseb on November 17, 2022, 11:10:36 PM

Another day has passed and the mess with FTX keeps getting weirder and weirder. Basically it was uncovered that sbf had like $1b that he loaned himself from FTX with user funds. Opened some shell company or whatever it’s called under some Paperbird Inc account.

Now there is word that the hacker of FTX was actually the Bahamian government which did it to protect the assets. Makes no sense since he sold assets on the market with huge slippage. Getting messier as the days go by.

I really don't know what is the final correct information, there is too much news but no concrete proof. The news you say you have also read but don't think it's true, FTX has a business registration in Bahamian, so when something goes wrong they have the right to intervene and freeze all FTX assets in their country, there's no reason for them to attack FTX themselves. If the Bahamian government is the attacker of the FTX there is no reason for them to arrest the SBF for investigation, with that action they also become criminals.

adaseb

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Another day has passed and the mess with FTX keeps getting weirder and weirder. Basically it was uncovered that sbf had like $1b that he loaned himself from FTX with user funds. Opened some shell company or whatever it’s called under some Paperbird Inc account.

Now there is word that the hacker of FTX was actually the Bahamian government which did it to protect the assets. Makes no sense since he sold assets on the market with huge slippage. Getting messier as the days go by.

MarjorieZimmermanGinger

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Quote from: Davian144 on November 17, 2022, 06:00:03 AM

Binance will not be bad because of this case, because in the past Binance has also been hacked but is able to restore its trust in everyone by taking full responsibility for things that are not wanted by its users. But for FTX I still doubt whether the exchange will be able to restore its trust in everyone in the future.

Binance is a large exchange, they will not be involved in reputational affairs that will destroy the company they have built and it seems that unlike the Binance hacking case in the past with the case that happened to FTX, this is not affiliated with the case of Binance withdrawing from FTX. While FTX is really at stake and it is very difficult to restore its reputation.

Quote

Actually it's not complicated, but some people may not know how the law works there in cases like this. So that further investigation is still needed so that we can understand how the legal process is there for cases that occur on exchanges such as FTX which have gone viral in almost all media.

Talking about the law, there is a context to the two demands, the first is civil and the second is criminal. No one is able to explain which domain the FTX case falls into. What I understand is that if the FTX case falls into the civil category, then the payment of compensation will make them free from all charges, but it is different if FTX is faced with criminal charges.

serjent05

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

Looks like SBF is at it again and basically trying to lure investors into investing into FTX. He is looking to raise +$6B or so. I think he is trying to sell some FTX bonds which are paying 10% per year for 3 years and then converted into common stock.

Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.

They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

I give this 10% chance of succeeding....

I think people are well aware of the fraud SBF committed, only those who are close to him or his family will possibly invest to FTX. I would give this fundraising 5% at most to succeed. Besides, I believe many investors will follow CZ 's example of not committing to taking over the FTX since there are already irregularities and investigations from the authority. There is also this hacking incident that further demerit FTX capability in security. So people may think that it is possible that the fund raised will be hacked too.

Captain Corporate

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As far as I know, there are two reasons for why this happened, and that means there are two reasons why it can't be raising that much money ever. First of all, there is a story about being hacked, not directly but like funds being emptied and all that, which means that they are not trustworthy with your money, if I am a rich person willing to give 6 billion, how would I be sure that they won't have that again? Second story is that they used our money to invest, when they shouldn't, billions of dollars could yield a huge large of income for them after all, and they became greedy and used all of our money to invest, and when they failed it became a problem. If I am still the same guy with 6 billion, would I trust a company that already had it and lost it once? How would I know they won't do the same thing with my money as well?

Oceat

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Quote from: uneng on November 17, 2022, 04:03:48 PM

Many crypto companies are in similar situations and they didn't succeed finding investors and buyers to cover the hole. I don't know why it should be different with FTX. I believe these are ideas thrown on the public to buy time while giving the impression they are working hard in a solution and that there is still hope of recovery. Meanwhile they work on the backgrounds with their lawyers to find a safe exit from this mess, guaranting a relatively confortable and free life outside the prison.

If this was their plan then investors shouldn't bother reinvesting after what happens to them, they're just giving these people a free ticket outside of the box while the rest of the victim are suffering. I wonder if they could really find investors that would take the risk since it seems most of the people are losing hope on them already.

Well, the deal is catchy but at the same time it's risky. Undecided

Oilacris

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

I give this 10% chance of succeeding....

No one knows yet each investor does have their own minds and decisions to be made up.Even though FTX did really shit up and messed up entirely and majority will really be telling that its not worth to take risk but for sure there are ones who do really love to put up risk on throwing up billions if ever this one would be having plans on raising up funds and offering those 10% per year
which i could say that it isnt really a bad deal either.

The main question would matter most is the trust on where the community had already been lost or been broken because of the recent things happened in FTX.
It is really hard to make out conclusions but lets go set aside on what the communities feeling on the current situation.

jossiel

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Quote from: Baofeng on November 16, 2022, 06:55:44 PM

Quote from: jossiel on November 16, 2022, 06:47:09 PM

I believe that there are still few that would bite on this. Like, they're thinking that this is crypto and it can be dumped fast but the same as the opposite of it, recovery.

Do you think so? I thought investors are smarter than that? and assuming that SBF has plans to raise funds, who are going to be lured on his scam? I mean scheme? And if there is something that history will teach us in crypto, it's that once your reputation has been damage here, its' going to be very difficult to come back.

It's like the same as those investors that are buying tokens that have no future and the same goes for the other meme coins that are nearly dead. That's why I think that there will still be few that would hope on that it will recover so, they'll buy.

Quote from: Baofeng on November 16, 2022, 06:55:44 PM

Quote from: jossiel on November 16, 2022, 06:47:09 PM

Those that have the funds and can afford to lose it for the second time around would take the gamble. But as for me, I'd never touch any of these shits from FTX/Alameda.

So I will say that the amount of money investors lost like the reported Tom Brady and Giselle money, I doubt although there are still video off Tom and SBF together, that they are willing to reinvest again.

It could be from retail investors but hopefully that they're the same as how we think about this.

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Quote from: jossiel on November 16, 2022, 06:47:09 PM

I believe that there are still few that would bite on this. Like, they're thinking that this is crypto and it can be dumped fast but the same as the opposite of it, recovery.

Those that have the funds and can afford to lose it for the second time around would take the gamble. But as for me, I'd never touch any of these shits from FTX/Alameda.

Investors are not that stupid mate , Not unless those who we can call risk taker but I doubt that there are even single of them that will take this .

Yeah, I know that investors are not that stupid. But it's the same as the other classification that we can't deny that there are investors that are willing to take bets.

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Many crypto companies are in similar situations and they didn't succeed finding investors and buyers to cover the hole. I don't know why it should be different with FTX. I believe these are ideas thrown on the public to buy time while giving the impression they are working hard in a solution and that there is still hope of recovery. Meanwhile they work on the backgrounds with their lawyers to find a safe exit from this mess, guaranting a relatively confortable and free life outside the prison.

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Quote from: doomloop on November 17, 2022, 03:35:53 PM

Quote from: gantez on November 17, 2022, 05:53:56 AM

Quote from: TravelMug on November 17, 2022, 03:25:31 AM

Chances are slim in my opinion and for me, doesn't make sense for people to bail out SBF, he has caused so much damage for us. The best thing we can do is for him to go in jail and justice should be served for those who lost their money here.

And even in our community here, I will speculate that the consensus will be the majority, let SBF suffer and let this be a lesson for all investors, small or big to really be careful specially altcoin market as the risk is huge.

Such kind of his act is bringing bad name to the cryptocurrency. This should be properly handle to avoid another gambler trading for profit with the customer money. The trust is not there for him again. In cryptocurrency if you betray the people, the community don't give you another chance. Going for bailout or source for money to pay back is not a possible thing, binance deal didn't succeed because of no trust on the huge debt payment.

For those who are not new here, one mistake is already enough for them and they will move on already no matter what conditions they are giving to them by the company who failed them but for those who are new in here and has a lack of experience, maybe they will take the risk because they are still hoping that they can recover what they have lost in FTX.

Remember the luna event last time? They also beg the public to gave them another chance and they create another luna coin but that seem to not go well. Binance won't be successful if they are not wise and smart, and that is why they didn't accept the deal. People should learn from them.

We can't tell yet the future of FTX but I do agree that most users here won't trust the exchange for the second time around.
But SBF may have different charisma than Luna's Do Kwon. So SBF has the potential to raise this money.
For those who lost a lot owed to FTX failure, I don't think they will bail out SBF this time.
He needs a very convincing offer to the public to raise good amount of money. But of course, he can always try .
I think if he will show sincere offer to the extent of using his own funds and not care about his possible loss, he may raise sufficient amount to recover his platform.

doomloop

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Quote from: gantez on November 17, 2022, 05:53:56 AM

Quote from: TravelMug on November 17, 2022, 03:25:31 AM

Chances are slim in my opinion and for me, doesn't make sense for people to bail out SBF, he has caused so much damage for us. The best thing we can do is for him to go in jail and justice should be served for those who lost their money here.

And even in our community here, I will speculate that the consensus will be the majority, let SBF suffer and let this be a lesson for all investors, small or big to really be careful specially altcoin market as the risk is huge.

Such kind of his act is bringing bad name to the cryptocurrency. This should be properly handle to avoid another gambler trading for profit with the customer money. The trust is not there for him again. In cryptocurrency if you betray the people, the community don't give you another chance. Going for bailout or source for money to pay back is not a possible thing, binance deal didn't succeed because of no trust on the huge debt payment.

For those who are not new here, one mistake is already enough for them and they will move on already no matter what conditions they are giving to them by the company who failed them but for those who are new in here and has a lack of experience, maybe they will take the risk because they are still hoping that they can recover what they have lost in FTX.

Remember the luna event last time? They also beg the public to gave them another chance and they create another luna coin but that seem to not go well. Binance won't be successful if they are not wise and smart, and that is why they didn't accept the deal. People should learn from them.

Davian144

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Quote from: MarjorieZimmermanGinger on November 17, 2022, 05:11:45 AM

For FTX it may be quite difficult to restore trust, considering this case has been widely circulated in the media and I think people will have different levels of trust in Binance. Since it's related to reputation, in the worst case scenario, FTX will no longer run as it used to, even if someone is able to restore its reputation.

Binance will not be bad because of this case, because in the past Binance has also been hacked but is able to restore its trust in everyone by taking full responsibility for things that are not wanted by its users. But for FTX I still doubt whether the exchange will be able to restore its trust in everyone in the future.

Quote

Talking about the law will be much more complicated, because the exchange is affiliated in America and the Bahamas, so the legal process will be determined there, and if they compensate as you say, then it's true they don't have to bear any other obligations.

Actually it's not complicated, but some people may not know how the law works there in cases like this. So that further investigation is still needed so that we can understand how the legal process is there for cases that occur on exchanges such as FTX which have gone viral in almost all media.

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Quote from: TravelMug on November 17, 2022, 03:25:31 AM

Chances are slim in my opinion and for me, doesn't make sense for people to bail out SBF, he has caused so much damage for us. The best thing we can do is for him to go in jail and justice should be served for those who lost their money here.

And even in our community here, I will speculate that the consensus will be the majority, let SBF suffer and let this be a lesson for all investors, small or big to really be careful specially altcoin market as the risk is huge.

Such kind of his act is bringing bad name to the cryptocurrency. This should be properly handle to avoid another gambler trading for profit with the customer money. The trust is not there for him again. In cryptocurrency if you betray the people, the community don't give you another chance. Going for bailout or source for money to pay back is not a possible thing, binance deal didn't succeed because of no trust on the huge debt payment.

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Quote from: Maidak on November 17, 2022, 04:13:57 AM

It is true that FTX still has a chance but the chance is very slim, no one will believe in SBF anymore. Even Binance, the biggest player in the market, refused to buy back FTX after learning that the debt FTX is carrying is too large even though the number is not too large compared to finance.

For FTX it may be quite difficult to restore trust, considering this case has been widely circulated in the media and I think people will have different levels of trust in Binance. Since it's related to reputation, in the worst case scenario, FTX will no longer run as it used to, even if someone is able to restore its reputation.

Quote

Like Dokwon's Luna, there is still no legal corridor in the crypto market so no one has the right to convict SBF. FTX is only registered to do business in the United States and the Bahamas, as long as they fully compensate users in these two countries, they will not bear any other liability.

Talking about the law will be much more complicated, because the exchange is affiliated in America and the Bahamas, so the legal process will be determined there, and if they compensate as you say, then it's true they don't have to bear any other obligations.

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It is true that FTX still has a chance but the chance is very slim, no one will believe in SBF anymore. Even Binance, the biggest player in the market, refused to buy back FTX after learning that the debt FTX is carrying is too large even though the number is not too large compared to finance.

Quote from: TravelMug on November 17, 2022, 03:25:31 AM

The best thing we can do is for him to go in jail and justice should be served for those who lost their money here.

Like Dokwon's Luna, there is still no legal corridor in the crypto market so no one has the right to convict SBF. FTX is only registered to do business in the United States and the Bahamas, as long as they fully compensate users in these two countries, they will not bear any other liability.

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Quote from: Johnyz on November 16, 2022, 04:44:03 PM

If there’s a hype probably someone will invest.
If the purpose to raise funds is to compensate all the losses and stay in the competition then why not. This might not be so easy for them because of what happened, most probably there’s already a trust issue with them. The question is what if SBF committed another fraud? This might be double kill for FTX. Well, we will see if they will push it through.

Double kill not only for FTX but also for those who still trusted him and fell to this "raising fund" shit again.
Hype? There is no hype with this one. The only thing that this has is lack of trust because of what happened.

I don't know if it's only me, but we are in a crazy world of crypto where there are still people who are trusting the project regardless of what happened to them in the past. Just look at LUNA. We expected it to crumble and fall down after what happened to them but still, there are investors who are willing to give them a second chance thus, they are still operating though thru a different project already.

I will not be surprised though if there are still some investors who will try and help SBF with his +$6B fund raising and I will not call them stupid or whatever others want to call to them since they still trust him regardless of what happened. I'm just a bit confused why he is the one that is organizing it though he already resigned as the CEO of FTX.

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I remember Luna's case, before the last crash there were rumors as well and then the price went up and some thought things were getting better and then the knockout.

If anything could have been salvaged, it would have been on the first and second day and not after all this period, precisely when the non-binding takeover offer from Binance was rejected.

If anyone thinks about investing money, he must be a device to meet customer withdrawals and bear all the mistakes of the previous administration, which includes squandering customer money.

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Chances are slim in my opinion and for me, doesn't make sense for people to bail out SBF, he has caused so much damage for us. The best thing we can do is for him to go in jail and justice should be served for those who lost their money here.

And even in our community here, I will speculate that the consensus will be the majority, let SBF suffer and let this be a lesson for all investors, small or big to really be careful specially altcoin market as the risk is huge.

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Quote from: CryptoBuds on November 16, 2022, 08:40:03 PM

Although on paper he has resigned as CEO of FTX, I believe he is still running things. As far as I know, the resignation is in his favor because if FTX does not raise capital to restore business, FTX will officially go bankrupt at that time as the CEO of FTX, he will not be able to start a new company or participate in any other projects. This is why he resigned shortly after FTX filed for bankruptcy, but if they can really successfully raise capital to get back in business, he will definitely return as CEO.

I really hope he fails to raise the money, we do not need people like him in the market since the only things he knows how to do is to deceive people, defraud them and to give a bad reputation to this market.

And while it is tragic the loss of money that all of those people which were deceived by him have suffered, we do not need even more people to lose their money as well, because even if he succeeded and saved FTX from disappearing, this will only raise the number of victims that will suffer at his hands in the future once this happens again.

Chato1977

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this is going nowhere from my perspective , because while FTX is in a bad shape now a kicked CEO is raising funds? what would be the sentiments of investors in this part?I'm afraid this will help the project to gain investors again with this kind of problem inside.

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Quote from: adaseb on November 16, 2022, 06:04:34 PM

Quote from: Johnyz on November 16, 2022, 04:44:03 PM

If there’s a hype probably someone will invest.
If the purpose to raise funds is to compensate all the losses and stay in the competition then why not. This might not be so easy for them because of what happened, most probably there’s already a trust issue with them. The question is what if SBF committed another fraud? This might be double kill for FTX. Well, we will see if they will push it through.

Well here is the issue. And this is where I am lost.

Apparently since he filed for Chapter 11, he is no longer the CEO and no longer running the company.

He is trying to raise funds but what will he get out of that since he is no longer the CEO. He posted some interview earlier saying he is raising funds but then the FTX Official posted saying that SBF is no longer in charge and not to pay attention to him anymore.

So I am really confused what he is trying to do.

Although on paper he has resigned as CEO of FTX, I believe he is still running things. As far as I know, the resignation is in his favor because if FTX does not raise capital to restore business, FTX will officially go bankrupt at that time as the CEO of FTX, he will not be able to start a new company or participate in any other projects. This is why he resigned shortly after FTX filed for bankruptcy, but if they can really successfully raise capital to get back in business, he will definitely return as CEO.

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Quote from: adaseb on November 16, 2022, 03:44:04 PM

(.....)
Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.

Exactly! This is what other people also suggesting, FTX can do what Bitfinex did before. FTX Exchange is a huge exchange, I believe it is the second biggest exchange after Binance and as you can see, their trading volume is huge too, so what if they continue to operate and continue to earn money by trading fees and other exchange-related operations?

On the other side, FTX did something terrible, suspected that they used customer's fund, so the issue here is different from Bitfinex before which I believe it's very difficult to regain trust of people again.

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Quote from: jossiel on November 16, 2022, 06:47:09 PM

I believe that there are still few that would bite on this. Like, they're thinking that this is crypto and it can be dumped fast but the same as the opposite of it, recovery.

Do you think so? I thought investors are smarter than that? and assuming that SBF has plans to raise funds, who are going to be lured on his scam? I mean scheme? And if there is something that history will teach us in crypto, it's that once your reputation has been damage here, its' going to be very difficult to come back.

Quote from: jossiel on November 16, 2022, 06:47:09 PM

Those that have the funds and can afford to lose it for the second time around would take the gamble. But as for me, I'd never touch any of these shits from FTX/Alameda.

So I will say that the amount of money investors lost like the reported Tom Brady and Giselle money, I doubt although there are still video off Tom and SBF together, that they are willing to reinvest again.

jossiel

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I believe that there are still few that would bite on this. Like, they're thinking that this is crypto and it can be dumped fast but the same as the opposite of it, recovery.

Those that have the funds and can afford to lose it for the second time around would take the gamble. But as for me, I'd never touch any of these shits from FTX/Alameda.

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Quote from: Johnyz on November 16, 2022, 04:44:03 PM

If there’s a hype probably someone will invest.
If the purpose to raise funds is to compensate all the losses and stay in the competition then why not. This might not be so easy for them because of what happened, most probably there’s already a trust issue with them. The question is what if SBF committed another fraud? This might be double kill for FTX. Well, we will see if they will push it through.

How could they trust FTX? there financial status are really in bad shape where they have huge money needed to compensate to their millions of users. For sure investors most likely taking suicide for there money if they push this plan because let say even if they could raise funds from those private individual to pay there users the question there is are those people will go back to the platform to use their exchange? I think not they already get out with the problem and how could they came back on the platform where give them huge stress due to financial issues?

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Quote from: Johnyz on November 16, 2022, 04:44:03 PM

If there’s a hype probably someone will invest.
If the purpose to raise funds is to compensate all the losses and stay in the competition then why not. This might not be so easy for them because of what happened, most probably there’s already a trust issue with them. The question is what if SBF committed another fraud? This might be double kill for FTX. Well, we will see if they will push it through.

Well here is the issue. And this is where I am lost.

Apparently since he filed for Chapter 11, he is no longer the CEO and no longer running the company.

He is trying to raise funds but what will he get out of that since he is no longer the CEO. He posted some interview earlier saying he is raising funds but then the FTX Official posted saying that SBF is no longer in charge and not to pay attention to him anymore.

So I am really confused what he is trying to do.

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If there’s a hype probably someone will invest.
If the purpose to raise funds is to compensate all the losses and stay in the competition then why not. This might not be so easy for them because of what happened, most probably there’s already a trust issue with them. The question is what if SBF committed another fraud? This might be double kill for FTX. Well, we will see if they will push it through.

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Looks like SBF is at it again and basically trying to lure investors into investing into FTX. He is looking to raise +$6B or so. I think he is trying to sell some FTX bonds which are paying 10% per year for 3 years and then converted into common stock.

Now I realise that Bitfinex did something similar when they got hacked back in 2015. They raised I think $1B very quickly. And their valuation is much lower back then than FTX today. However they got hacked... SBF committed fraud.

They seem to generate $10-20B in volume daily and $1B in revenue per year. Seems like a profitable company however.... will anyone actually invest billions after what he did? Will people actually still trade on FTX after all this mess?

I give this 10% chance of succeeding....

Topic: What are the chances of FTX raising funds... (Read 717 times)