There are still many unanswered questions. But two big ones loom: How far will the damage spread? And can the beaten-down crypto industry bounce back? Industry insiders are debating whether to call the implosion of FTX, which filed for bankruptcy on Friday, a “Lehman moment,” referring to the 2008 collapse of the investment bank that sent shockwaves around the world. Many think it’s an apt comparison.
The price of the Solana digital coin has also been battered thanks to reports that Bankman-Fried’s trading firm, Alameda Research, had sizable holdings. The Tether stablecoin, which is supposed to be a safe place to park cash, recently broke its one-to-one peg to the US dollar. And crypto lending platform BlockFi said Thursday that it was pausing customer withdrawals. Traditional investors have also been burned, though they’re reassuring clients they can handle the fallout.
Always trying to screw someone who’s trying to make a living can’t help being naturally smart
Which religion adopted crypto (tokens) to enter the Pearly Gates? Ponzi schemes: the art and magic of getting others to make “any” mystic belief real and true. Your tokens (treasure) become their tokens. Religion is Crypto. Keep belief and knowledge separated.
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FTX collapse: The crypto industry’s Lehman Brothers momentWhile a collapse on the scale of FTX is shocking for the crypto industry, it does have a precedent. What troubling parallels does it have with the 2008 Lehman Brothers collapse and can anything be done? “Can anything be done” bruh just use Chainlink No Lehman bro such event will occur when binance will tumble , and you should look into this … Back to McDonald’s for anyone with crypto in their name
Source: Cointelegraph - 🏆 562. / 51 Read more »
FTX's U.S. business is in troubleFTX US is separate from FTX, but its fate is likely to be equal.
Source: axios - 🏆 302. / 63 Read more »
Solana’s Wrapped Bitcoin Price Craters, Recovers After FTX Shuts Exit RampUPDATE: soBTC largely recovered in price after FTX US reopened withdrawals, restoring a critical offramp for the wrapped bitcoin asset. I'll let you go, but you still won't leave solana centralized shit coin Solana
Source: CoinDesk - 🏆 291. / 63 Read more »
FTX, FTX US and Alameda will file for Chapter 11 bankruptcy in US; SBF resignsFTX said roughly 130 companies in FTX Group — including FTX Trading, FTX US and Alameda Research — had started proceedings to file for bankruptcy in the United States. Smh Under chapter 11 do liquidators get to claw back the money donated to the dems...ie it wasnt Sam's money to give away Sbf needs to be stepping Into a prison cell... with a bottle of lube!!!
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bahamas Regulator Freezes FTX Assets — Supreme Court Appoints Provisional Liquidator – Regulation Bitcoin NewsBahamas' securities regulator has frozen FTX's assets and the supreme court has appointed a provisional liquidator. crypto cryptocurrency BOOM! Another winning signal today from ChiefraFba Options are running out, FTX need to hurry Eternity Protocol Eternity_BSC is the best low market cap gem you can buy 10 to 30x incoming!
Source: BTCTN - 🏆 531. / 51 Read more »
Bankman-Fried sold FTX equity to employees at 50% discount in spring: SourcesFTX CEO Sam Bankman-Fried sold equity in the firm at a 50% discount to employees in the spring, sources tell The Block. Next you’re gonna tell me he used those proceeds to prop up Alameda when it was on the verge of collapsing 🧐 Oh lord. Time to put on the comfy sweatshirt Dogetoshi Hey everyone come here dip your hands in this blood
Source: TheBlock__ - 🏆 464. / 53 Read more »