BTC survived MTGox and will survive this but man oh man we f'd
sorry so long but here is the mostly unedited notes about what the heck just went down in crypto and why. realy it comes down to one small group of people if not one person... ya one guy may have just triggered a massive Regulation avalanche crypto is most def not in the condition or state to take on at the moment.. lol this just got longer enjoy those that read...
This sets the stage for US regs up the ying yang. Thanks FTX. On the surface it sure looks like this GUY or and team created one of the biggest devestaing blows to crypto we have EVER watched happen. This or their actions started with Alameta going bankrupt. This brought down Voyager exchange and Celsius network to their BK knees as well. Even Kraken held a good amount of FTT token as well as most the major exchanges. Who the h3ll knows what triggered the final death spiral but it sure sounds like Binance and CZ had a good part to do with this final push. CZ didn’t like Sam stirring up US Regs that felt and looked like they would target to some degree Binance exchange.
I drafted this b4 the drop my sincere apologies for not dropping this until now….
FTX started in the summer of 2019 in earnest when Alameda and Binance where main pre sale early investors in the FTT token via private sale as well as coin base and others when 20 percent was sold and finished “vesting” in May this year hmmmm correlation anyone… This drop happened so cleanly and quickly the sell pressure above will crush many a FTT token rally to come, watch out all uv been warned here.
In the 2020 bull run that lead into 21 is what truly sparked trading volume on FTX (keep in mind Alameda was the giant that took down Celsius and Voyager) a bunch of leveraged crypto made up these exchanges it what it feels like. .
What we know (despite rumors that crypto was flowing to Alameda from FTX) Alameda started withdrawing stable coins to send to FTX hmmmmm combine this with Binance hearing this and started selling FTT (FTX and Binance had a falling out in the summer of 21) possibly sparked by these issues.
Crypto markets are not what they once where just last year. We learn fast and people adapt… no one could believe FTX was not honoring withdrawal request. Binance said they would buy FTX wtffff then Binance pulls out of the deal once they got ahold of their financials… ok this is so bad that sam degenerate betting patterns have crippled crypto because this all came out during a savage bear cycle (on the verge of a full blown recession) defi and solana just bit the dust and the dominos fell from there.
Remember crypto will survive all. We survived the OG hack back in the day on BTC with mt.g crypto will survive this but for sho here come the regs. First is stable coins then they will lock down the entry and exit choke points while they pick off ALT projects with the security vs commodity hype which will mostly come down to the vesting or pre sale and sale of the original token. Very few “fair launches” so to speak in crypto so the blood will be neck deep. Just get ready to move fast all. There is lots of quick money to be made here but stick n move and keep your crypto close .. if u need a reminder just ask FTX vets or Voyager or Celsius or the next centralized exchange that wont honor withdrawals ...
Its one of 2 thangs… sam either gambled to hard to often which he freely admits to doing at times, or CZ n him or still goodie and or got rite and He sold out ie the precedents that will be set if the government bails FTX out with a 9. Something trillion bailout or just the regulations on crypto that just got a very good reason to super charge that process while/and 100s of ALT projects death spiral with strong US regs in the winds and statements needed to be made as they work “the rules” out, what then is THAT the master plan or simply a bi product of this ie Sam’s shenanigans
Cz don’t play and neither does China was what we learned from this for sho
ORRRR the two “buddies” are playing the long game and the us regs and bail out are the punch line
Or maybe like most things the truth is somewhere in the middle of these two types of points...
In the end I guess its pretty simple.. if FTX gets a bail out and Binance works in any type of partnership capacity we know it’s the jokes on us scenario if just blahhhh then we know its humans being humans and the government can step in with more regs but on their terms only is the FACT of FACTS here so get ready to move fast… this is not over.
This sets the stage for US regs up the ying yang. Thanks FTX. On the surface it sure looks like this GUY or and team created one of the biggest devestaing blows to crypto we have EVER watched happen. This or their actions started with Alameta going bankrupt. This brought down Voyager exchange and Celsius network to their BK knees as well. Even Kraken held a good amount of FTT token as well as most the major exchanges. Who the h3ll knows what triggered the final death spiral but it sure sounds like Binance and CZ had a good part to do with this final push. CZ didn’t like Sam stirring up US Regs that felt and looked like they would target to some degree Binance exchange.
I drafted this b4 the drop my sincere apologies for not dropping this until now….
FTX started in the summer of 2019 in earnest when Alameda and Binance where main pre sale early investors in the FTT token via private sale as well as coin base and others when 20 percent was sold and finished “vesting” in May this year hmmmm correlation anyone… This drop happened so cleanly and quickly the sell pressure above will crush many a FTT token rally to come, watch out all uv been warned here.
In the 2020 bull run that lead into 21 is what truly sparked trading volume on FTX (keep in mind Alameda was the giant that took down Celsius and Voyager) a bunch of leveraged crypto made up these exchanges it what it feels like. .
What we know (despite rumors that crypto was flowing to Alameda from FTX) Alameda started withdrawing stable coins to send to FTX hmmmmm combine this with Binance hearing this and started selling FTT (FTX and Binance had a falling out in the summer of 21) possibly sparked by these issues.
Crypto markets are not what they once where just last year. We learn fast and people adapt… no one could believe FTX was not honoring withdrawal request. Binance said they would buy FTX wtffff then Binance pulls out of the deal once they got ahold of their financials… ok this is so bad that sam degenerate betting patterns have crippled crypto because this all came out during a savage bear cycle (on the verge of a full blown recession) defi and solana just bit the dust and the dominos fell from there.
Remember crypto will survive all. We survived the OG hack back in the day on BTC with mt.g crypto will survive this but for sho here come the regs. First is stable coins then they will lock down the entry and exit choke points while they pick off ALT projects with the security vs commodity hype which will mostly come down to the vesting or pre sale and sale of the original token. Very few “fair launches” so to speak in crypto so the blood will be neck deep. Just get ready to move fast all. There is lots of quick money to be made here but stick n move and keep your crypto close .. if u need a reminder just ask FTX vets or Voyager or Celsius or the next centralized exchange that wont honor withdrawals ...
Its one of 2 thangs… sam either gambled to hard to often which he freely admits to doing at times, or CZ n him or still goodie and or got rite and He sold out ie the precedents that will be set if the government bails FTX out with a 9. Something trillion bailout or just the regulations on crypto that just got a very good reason to super charge that process while/and 100s of ALT projects death spiral with strong US regs in the winds and statements needed to be made as they work “the rules” out, what then is THAT the master plan or simply a bi product of this ie Sam’s shenanigans
Cz don’t play and neither does China was what we learned from this for sho
ORRRR the two “buddies” are playing the long game and the us regs and bail out are the punch line
Or maybe like most things the truth is somewhere in the middle of these two types of points...
In the end I guess its pretty simple.. if FTX gets a bail out and Binance works in any type of partnership capacity we know it’s the jokes on us scenario if just blahhhh then we know its humans being humans and the government can step in with more regs but on their terms only is the FACT of FACTS here so get ready to move fast… this is not over.