Bankrupt crypto exchange FTX is under criminal investigation in The Bahamas
Sounds like an excuse for the Federal Government to start regulating crypto.
FEAR! FEAR! FEAR! FEAR! FEAR! FEAR!
Bankrupt crypto exchange FTX is under criminal investigation in The Bahamas
Sounds like an excuse for the Federal Government to start regulating crypto.
Nah. Sam Bankman Fried fucked up big time and lost his users funds.
CZ of Binance could've saved them by buying the FTX exchange, but he said "Nah, too much baggage"
Cryptocurrency is already regulated.
The SEC recently claimed duristiction on Ethereum, simply because 40% of Ethereum transactions are now done in the states.
Ethereum juuuust changed from proof of work to proof of stake, which means Ethereum is no longer in the hands of miners, but instead those who stake 32 Ethereum.
32 ETH. Not too many people are like me and can do that. This model does make Ethereum centralized and why ?
Because from now on Most Ethereum that is produced will go to big banks or government or wallstreet whales because they are the ones who'll be able to afford setting up thousands of nodes at 32 ETH a pop.
It took 2 days for the SEC to claim Ethereum as territory. Evil manifest.
His take on what happened is idiotic.
Another thing about this.
It got worse as "after" FTX collapsed, it was supposedly hacked for 512 million. Probably an inside job.
Sam was worth 10 billion, but managed to lose -32 Billion.
AND he donated 50 million to the DNC so while he should be facing life in prison, we'll see how he really goes.
Regulation is a thing in the states, Binance for example has a Binance US version.
This is all greed. No need to use the people's coins, the guy was making billions on just that alone.
CZ in on course to be the richest man in the world, maybe Sam tried to catch up to him and ended up getting wrecked and lost all of that liquidity.
His take on what happened is idiotic.
He does kinda call out your cope demographics.
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His take on what happened is idiotic.
He does kinda call out your cope demographics.
He never did that tbh. I'm Stashencrash.
I sold in December, preparing to buy just 1 project for the 2024 bull run. Maybe 2 or 3, but only 1 and it'll outperform everything.
Also. You're making me cringe. Cryptocurrency naysayers miss the boat again and again and rejoyce when the market falls down, but don't buy while it's down, only to be silenced when the market comes back with... get this, new all time highs.
As for the FTX exchange, I never used it, nor do I hold the FTT token, which is up 13% on the 24 hour. I'm fabulous as I am, and not buying that.
Finally, as I've mentioned many times in the past. Never leave your crypto in an exchange.
BlockFi Prepares for Potential Bankruptcy as Crypto Contagion Spreads
This is what exposure and fragility look like.