There is a rumour of FTX insolvency

[Martin Everson]

FTT tanking right now. Where are the bulls...come on lol?

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[khinkali]

Martin Everson said:
FTT tanking right now. Where are the bulls...come on lol?
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Just went long at $9.085. No real money (I don't do discretionary trading), but you can laugh at me tomorrow if it goes to zero.

If Binance does "fully acquire" FTX, then I wonder if the FTT buyback and burn programme will continue.

 

[Martin Everson]

khinkali said:
Just went long at $9.085. No real money (I don't do discretionary trading), but you can laugh at me tomorrow if it goes to zero.
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The bull has arrived. A halt in trading is more likely before it goes to zero. But you may do well fingers crossed. No risk no gain.

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[khinkali]

https://twitter.com/x/status/1590055819416330240


This is what we should be looking for. The 2008 melt down in legacy finance was about opacity and socialising losses. Every centralised exchange should list pseudonymous internal balances and exchange wallet balances. The two sums should match.

 

[backpacker]

khinkali said:
https://twitter.com/x/status/1590055819416330240


This is what we should be looking for. The 2008 melt down in legacy finance was about opacity and socialising losses. Every centralised exchange should list pseudonymous internal balances and exchange wallet balances. The two sums should match.
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Trust is waning. What else should he post to assure the naive masses ....
Let's wait and measure him by his actions.

Meanwhile BTC (and with it the rest of the crypto market) is collapsing.

 

[Martin Everson]

Whole crypto market looking like Whoopi Goldberg right now.

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[snatner]

backpacker said:
Market does not seem to be convinced. Too much damage. BTC now below 19k means people are rightfully scared.
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This thing unveiled much more problems on the crypto space..... nevertheless a visit to 15k or even 12k was always on the cards

 

[TheCryptoAnt]

2.6 millis locked at FTX here

I wanna puke

 

[JackAlabama]

TheCryptoAnt said:
2.6 millis locked at FTX here

I wanna puke
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F***. Id mentally prepare for a mt. gox incoming with a best case being the bitfinex case.

 

[ShillGates]

where can i buy more ftx

 

[polonieth]

Another scummy margin trading business, good riddance.

 

[Martin Everson]

FTT @4.64'ish. Damn its a cold world out there. CZ done one massive flex on FTX showing them who the daddy is....lol.

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[GeneralGogol]

The real party will start when Tether is revealed to be insolvent. Only a matter of time

 

[JackAlabama]

GeneralGogol said:
The real party will start when Tether is revealed to be insolvent. Only a matter of time
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yah we all know the tether fud which I have heard a 1000x by now since 2017. And here we are, tether still at 1$ at time of this post.

 

[Martin Everson]

GeneralGogol said:
The real party will start when Tether is revealed to be insolvent. Only a matter of time
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Just updated the below thread on Tether 😉.

https://www.offshorecorptalk.com/threads/tether-attacked-by-fraser-perring.38930/post-236482

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[GeneralGogol]

JackAlabama said:
yah we all know the tether fud which I have heard a 1000x by now since 2017. And here we are, tether still at 1$ at time of this post.
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In crypto everything is FUD until it becomes reality

 

[JackAlabama]

GeneralGogol said:
In crypto everything is FUD until it becomes reality
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How good is the very same fud for ***years***? lol this behavior is not unique to crypto, it is just stupidity and belongs to the same category as the eternal doomsdayer crowd.

 

[darkred]

GeneralGogol said:
In crypto everything is FUD until it becomes reality
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Lol so true. FTX being insolvent was FUD just 2 days ago.

 

[JackAlabama]

darkred said:
Lol so true. FTX being insolvent was FUD just 2 days ago.
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That is new Fud, if you would be old enough you'd know the Tether fud being around for years and did never materialize lol.

Just to point out a very obvious difference.
Ftx was a shiny object having had NO, 0, nil, zero stresstests and was being born in up only.

Tether had many MANY stress tests, including long bear markets and just had their last one last June even in their frontyard with high contageon (meltdown of stablecoins) and they had like 30% drawdown.

 

[darkred]

JackAlabama said:
That is new Fud, if you would be old enough you'd know the Tether fud being around for years and did never materialize lol.

Just to point out a very obvious difference.
Ftx was a shiny object having had NO, 0, nil, zero stresstests and was being born in up only.

Tether had many MANY stress tests, including long bear markets and just had their last one last June even in their frontyard with high contageon (meltdown of stablecoins) and they had like 30% drawdown.
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Yes, you are right on this point. Still, I prefer to avoid it even if it's a 1% risk. Much rather have USDC or USDP