FTX Implodes

FTT Token down 60% today :eek::eek:

Apparently, FTX has a liquidity crunch.

Binance intends to buy FTX.

Cz the goat… He started it all, exposed FX and then got in as the saviour… Lmaoo

CZ amecheza kama yeye. When your opponent is down, you capitalize and take over his business. Sometimes you engineer the run to bankrupt him upate discount.

$6 billion in withdrawals from FTX in 72 hours. It was a run.

It gets worse :eek:

Down 80%+ now.


Hii crypto ni casino tupu. Usiwahi skia mawaidha za watu, just place your bet and hope for the best

Summary of what happened for anyone who might be interested


The entire crypto system is built on a ponzi and rehypothecation.

This article explains clearly what happened: https://archive.ph/nZNmw

FTX International lent $10 billion of customers’ crypto to Alameda Research. Alameda Research is a trading firm.

Alameda blew up and by default, FTX International will blow up by association.

SBF broke the law by lending out customers’ crypto to Alameda Research.

Huyu ni Do Kwon 2.0. A greedy Jewish thug that stole from people and got too rich for the owner to see.
Ongeza his shady FTX token and how he was selling and borrowing against it and see how this Fried guy is a Jambazi Sugu Kukoka America - but linaishi Bahamas- lenye miraba minne na misuli tinginya

Buffett said the only way smart people go broke is through leverage. This is a perfect example.

SBF lent out customer deposits (illegal move because FTX is not a bank) to Alameda. Alameda, in turn, used the funds in leveraged bets.

If you operate like a bank by lending out customer deposits, you also expose yourself to bank runs. That’s exactly what happened because FTX experienced over $5 billion in withdrawal requests in one day.


Relax. This is obviously a skit. SBF was CEO of both FTX and Alameda until recently when he relinquished the Alameda position to…oh shiiett…you are 100% right :D:D


Right now, I wouldn’t even trust Binance.
If it’s not your key, it’s not your crypto.