Who will win, FTX or BINANCE? - page 6.

mindrust

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Quote from: Liz Truss on November 08, 2022, 10:20:15 AM

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

Looks like CZ won at first but now seeing how the markets are reacting, maybe there won't be any winners at all. FTT is right now imploding and taking down every other crypto currency with it. BTC is below $19k at the moment. Even BNB is going down.

Bankrupting a big exchange like FTX won't create any winners. We will all lose. At least in the short run.

In the long run, it will be fine.

DeathAngel

legendary

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#1 VIP Crypto Casino

Looks like CZ wins but none of us win, do we? This sucks, we are currently at 18,6xx which is what happened the last time we got rug pulled by some scammer Do Kwon.

It’s times like this when Gary Gensler is right with what he says.

S3300

member

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Maybe it's just me? I don't like how powerful Zhao is growing, this man is getting stronger and stronger every year, very soon he might be able to decide what and what for crypto future, this is not good.

We need men like him in crypto space but one man having this much power is not good for crypto, now it looks like decentralisation is a complete joke in crypto and it will never work.

Mpamaegbu

legendary

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Once a man, twice a child!

Quote from: electronicash on November 08, 2022, 01:59:18 PM

Quote from: Mpamaegbu on November 08, 2022, 01:51:41 PM

~snipped~

i think CZ saved the crypto industry from crashing. if he didn't discover the near bankruptcy which FTX is about to execute a bankrun, just imagine how deep the price could dive if SBF had dumped all the asset to the market.

You would innocently believe their grouse is about transparency? I doubt that. I think it goes beyond that and runs into ego challenge with both men. They want to flex muscles a bit, forgetting that it will rub off negatively on the industry. Some people are even of the opinion that CZ may not have even sold off his holdings of FTX tokens that he only wanted to FUD and shake the other dude. There's a possibility to that. Otherwise, why would he make his selling off public instead of quietly doing it.

5W-KILO

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Moon.win

Once again Binance CEO just saved the crypto market from a possible insane crash after the Luna incident, I am following CZ on Twitter and the latest update is Binance is taking over FTX exchange, he stated that FTX CEO asked for help and they have to sign an agreement, maybe this was CZ plan all along no one knows but if FTX failed to comply it would have been a disaster.

electronicash

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Quote from: Mpamaegbu on November 08, 2022, 01:51:41 PM

Quote from: GreatArkansas on November 08, 2022, 11:05:26 AM

For me, this is not good for the cryptocurrency industry if there will be a loser here. We all know FTX and Binance exchanges are huge and well reputable.
Let's say FTX will be rugged and forced to shutdown, then it will be a loss for the crypto industry, regulators for sure will take this as a lesson and become more strict in regulation cryptocurrency even with how big or good the exchange is.

That's exactly my thought too. It's not even about who wins but the scar that will be left on the crypto industry. Those two are major players in this industry and for them to dance naked publicly shows the unnecessary display of ego in man. Now, these two elephants are fighting; it's the grass that suffers it. Again, this incident is more likely to make SEC and other regulatory bodies begin to poke their noses into both exchanges. Unnecessary invitation.

i think CZ saved the crypto industry from crashing. if he didn't discover the near bankruptcy which FTX is about to execute a bankrun, just imagine how deep the price could dive if SBF had dumped all the asset to the market.

regulators (SEC) will not be able to see this coming. its one reason that regulators i think has to be someone with resources. if they are not able to see it coming, they is now way Gensler is able to regulate crypto.

fzkto

sr. member

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No one will win. I am sure this is not just happening and it is another market manipulation by CZ and Alameda. I don't believe that Sam's words about some exchanges lacking liquidity returned to him as Do Kwon once said that many coins will die and then LUNA collapsed. These things don't happen by accident, and there is likely to be an interesting denouement apart from Binance buying FTX.

Mpamaegbu

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Once a man, twice a child!

Quote from: GreatArkansas on November 08, 2022, 11:05:26 AM

For me, this is not good for the cryptocurrency industry if there will be a loser here. We all know FTX and Binance exchanges are huge and well reputable.
Let's say FTX will be rugged and forced to shutdown, then it will be a loss for the crypto industry, regulators for sure will take this as a lesson and become more strict in regulation cryptocurrency even with how big or good the exchange is.

That's exactly my thought too. It's not even about who wins but the scar that will be left on the crypto industry. Those two are major players in this industry and for them to dance naked publicly shows the unnecessary display of ego in man. Now, these two elephants are fighting; it's the grass that suffers it. Again, this incident is more likely to make SEC and other regulatory bodies begin to poke their noses into both exchanges. Unnecessary invitation.

virasog

legendary

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Quote from: dwminer1 on November 08, 2022, 12:37:58 PM

Confirmation from CZ here: https://twitter.com/cz_binance/status/1590013613586411520

This is probably a good solution for the entire cryptocurrency market.

We saw big moves in the market in a very short time. People who followed the news and insiders probably managed to earn quite a lot during this time. I wonder if we will have any more twists on this topic.

Right but remember that binance has not bought ftx right now and there is still DD which needs to be agreed upon. Anything can happen in crypto market and there could be a situation in which they don't agree upon a mutual deal. Whatever may be the situation, the market will remain extremely volatile and if anyone looking to do future trading, be very careful and use low leverage because of the current volatility in the market.

dwminer1

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Confirmation from CZ here: https://twitter.com/cz_binance/status/1590013613586411520

This is probably a good solution for the entire cryptocurrency market.

We saw big moves in the market in a very short time. People who followed the news and insiders probably managed to earn quite a lot during this time. I wonder if we will have any more twists on this topic.

virasog

legendary

Activity: 2954

Merit: 1159

Quote from: Liz Truss on November 08, 2022, 10:20:15 AM

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

No one will lose, both FTX and Binance will take advantage of the situation and liquidate the retail investors.
The recent tweet by sam seems to settle down the things but then who were affected ? Those who sold in panic and those who got liquidated Sad

https://twitter.com/SBF_FTX/status/1590012124864348160

OgNasty

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Quote from: Liz Truss on November 08, 2022, 10:20:15 AM

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

You are probably right. However, as long as you're willing to hold through the nonsense and wait for this to be over, you could make the case that the market will be stronger on the other side. As far as who the actual winner will be... I find it hard to believe that as a smaller newcomer with a ton of promotional expenses (they have arenas named after them) FTX would be able to withstand a war with Binance. I think we're seeing that evidence now as FTX is bleeding BTC from customers and BNB is one of the few coins now showing red today.

bittraffic

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Quote from: Bananington on November 08, 2022, 11:53:07 AM

Quote from: bittraffic on November 08, 2022, 11:28:19 AM

Yep it can't be good for all of us who are holding since it seem like all other coins are falling. In the last 4 hours everybody is dumping.

It is more of who will suffer between CZ, SBF and us, than who will win between them. CZ and SBF are two giants in the crypto industry, the people who will suffer the full effect of this situation will be crypto users like us who may during this time experience a lot of uncertainties in the market. This issue should quickly pass, it is creating a lot of FUD in the market, and it is becoming unhealthy.

But this CZ exposing them will be good for all. If FTX needs a bailout, Binance will likely be doing it. It will be good for the industry if Binacne takeover FTX. CZ is really nailing them. He knows the business well and might just be able to see who is swimming naked including Alameda. Crazy time and SOL is also affected. Gotta see how genius CZ.

Bananington

sr. member

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Quote from: bittraffic on November 08, 2022, 11:28:19 AM

Yep it can't be good for all of us who are holding since it seem like all other coins are falling. In the last 4 hours everybody is dumping.

It is more of who will suffer between CZ, SBF and us, than who will win between them. CZ and SBF are two giants in the crypto industry, the people who will suffer the full effect of this situation will be crypto users like us who may during this time experience a lot of uncertainties in the market. This issue should quickly pass, it is creating a lot of FUD in the market, and it is becoming unhealthy.

DaCryptoRaccoon

hero member

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OGRaccoon

Binance are number one for a reason.

What they are doing is simple business at the end of the day.

They are taking the choice to wind down the investment in FTX because of certain things that have come to light over the last few weeks.

Now is the time to sit in hardware wallet and watch the fireworks.

bittraffic

hero member

Activity: 3038

Merit: 617

Yep it can't be good for all of us who are holding since it seem like all other coins are falling. In the last 4 hours everybody is dumping.

But it still feels good to see CZ comes out to expose what they uncover when a huge FTT was deposited on Binance. It is suspicious enough. If the government can regulate which exchanges can postpone withdrawals, they should beable to also see suspicious things going on and be transparent.

GreatArkansas

legendary

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Quote from: Liz Truss on November 08, 2022, 10:20:15 AM

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

For me, this is not good for the cryptocurrency industry if there will be a loser here. We all know FTX and Binance exchanges are huge and well reputable.
Let's say FTX will be rugged and forced to shutdown, then it will be a loss for the crypto industry, regulators for sure will take this as a lesson and become more strict in regulation cryptocurrency even with how big or good the exchange is.

omone1

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There was no need for a fight in the first place, this is an industry everyone has been laboring to ensure it gets to as much as many people as possible and with the shortest possible time. I feel all these public tweets should have been discussed in private, this is already causing some dump in the market, players will capitalize on this to play with traders emotion, when bull gonna come, people won't be on guard.

Liz Truss

newbie

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I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

Topic: Who will win, FTX or BINANCE? - page 6. (Read 801 times)