KuCoin is probably next to go bankrupt

[OffshoreMonero]

So after Genesis fails I think that KuCoin will default.

Get a load of this insanity: they are offering up to 200% APR on Bitcoin, Tether, and Ethereum deposits.

This reeks of desperation to me. If you have funds there you should get them out ASAP.

Some links on this news below:

Kucoin and the strange case of high APYs

Crypto Twitter Freaks Out

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[troubled soul]

FTX is really too big to fail type of company.....before collapse It consider as serious player in industry....
Trust me bro.....More to come....IMO This story is still unfolding.....waiting for today's his interview on dealbook on NYT... This sam "Bankman" guy is super shady......He made the arrangement such a way that If he went down, other people also went down with him also.......No wonder why He is still roaming free....So many big player have account with FTX.....

In court document, which I attach below, You can clearly see most are hidden....and with Hugh amount ....No one know who they are......when they made name public more bankruptcy will follow ....It is history in making type of story is going on.....Best for luck .......Pray for innocent retail investor who lost money with this clown...


P.S. another his brother from another mother "Evan Luthra" barking like a dog on all major media outlet ....Seem he lost serious money in it.....

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[OffshoreMonero]

See how they are paying people in the Bahamas? SBF doesn't want to be living around angry people. Haha!

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[JackAlabama]

azb1 said:
FTX is really too big to fail type of company.....before collapse It consider as serious player in industry....
Trust me bro.....More to come....IMO This story is still unfolding.....waiting for today's his interview on dealbook on NYT... This sam "Bankman" guy is super shady......He made the arrangement such a way that If he went down, other people also went down with him also.......No wonder why He is still roaming free....So many big player have account with FTX.....

In court document, which I attach below, You can clearly see most are hidden....and with Hugh amount ....No one know who they are......when they made name public more bankruptcy will follow ....It is history in making type of story is going on.....Best for luck .......Pray for innocent retail investor who lost money with this clown...


P.S. another his brother from another mother "Evan Luthra" barking like a dog on all major media outlet ....Seem he lost serious money in it.....
Click to expand...

Ftx was not so big actually, not much real volume and they were very new.
They just had an incredible big mouth tho.

 

[OffshoreMonero]

The media touts FTX as the 3rd largest crypto exchange.

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[troubled soul]

JackAlabama said:
Ftx was not so big actually, not much real volume and they were very new.
They just had an incredible big mouth tho.
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Do agree, but ordinary people and some hedge fund do lose money....

 

[DigiCambio]

why people republish news without investigation ? it's '' Dual Investment '' program which offers high % , It's the same in binance too ( dual investment for BTC in binance 99% APR and ETH 167% APR ) dual investment is a risky investing option different from fixed rate ! check in binance here : Dual Investment | Binance

 

[OffshoreMonero]

Has it ever occurred to you that Binance might also be insolvent?

Have you ever heard of a traditional bank or investment paying returns that high? That should be your first clue.

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[JackAlabama]

OffshoreMonero said:
Has it ever occurred to you that Binance might also be insolvent?

Have you ever heard of a traditional bank or investment paying returns that high? That should be your first clue.
Click to expand...

These are not "traditional crypto" investments either.
More akin to some exotic options products with multiple knock out barrier of a bundle of 4 shares like fugazi stuff.

 

[DigiCambio]

OffshoreMonero said:
Has it ever occurred to you that Binance might also be insolvent?

Have you ever heard of a traditional bank or investment paying returns that high? That should be your first clue.
Click to expand...

It seems you dont know about dual investment ! it's a gamble indeed ! You have to indicate a target price and if the price goes under the target price ( for instance about btc ) they will pay you in btc if higher than target price they will pay in USDT it means in both cases you will loose money only if the price stays near the current price you will make profit , imagine some one from 60k has deposited 1 btc with 100% APR now after one year he has 2 btc while the value in usd is about 1/4

 

[OffshoreMonero]

*singing the monorail song from The Simpsons*

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[GeneralGogol]

Agree, they are probably next.

 

[JohnnyDoe]

AAX Exchange was the next. They halted withdrawals in November and it seems that the officers are on the run.

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[wellington]

JohnnyDoe said:
AAX Exchange was the next. They halted withdrawals in November and it seems that the officers are on the run.
Click to expand...

Think they already closed.

I've been awaiting a refund on Gatecoin Exchange, and Gox now for a very long time, learned that lesson a long time ago... now just hold the exchange shitcoin and see it collapse within minutes 😀