The Potential Revival of FTX: A bet on FTT - FTX 2.0
Hey guys, my idea on FTT got banned. This is a repost of the idea without the part that got it banned. I initially shared the idea when FTT was at 1.32$, and it's now at 2$. In case they unban it, this is the idea. That's the link to my idea
My only other proof is the screenshots I shared, but that's the only thing I could do. I am quite upset because it was a perfect idea right before the announcement that efforts to revive the exchange were official and the process was on. I tried to contact the moderators here, but they insist that because I shared a link, my idea had to be banned. My idea got banned because I mentioned the account of a coalition of some FTX creditors who have been trying to resurrect the exchange for months. Again, I don't get that policy, especially as Tradingview allows people to share links on these ideas, but these are the rules. All I have to say, is if you are sharing any ideas, make sure you don't share links from outside sources.
The idea
'Buying FTT with the expectation that FTX 2.0 will be launched. Some major players in the crypto space are pushing for the relaunch of the exchange, and this account is from a coalition of FTX traders that want to revive the exchange.
I believe that the exchange can be relaunched. Why? What would be the benefit? It would be a clean slate. No issues with regulators and a huge customer base. If the FTT token remains, then it wouldn't be a security.
Relaunching the exchange when other exchanges are under pressure and the SEC is cornered is the best time to do it. It's one of the ways to give money back to customers slowly and have people trade on it. Allowing creditors to trade their claims, distributing illiquid holdings rather than selling them for nothing, and having a solid community that wants to see the exchange succeed would greatly benefit everyone involved.
As I mentioned in my recent ideas, the SEC is cornered; they will try to do anything they can to regain trust and stability. For example, they 'postponed' a fine on BlockFi to help their customers get more money back. With many new traditional firms wanting to enter the game, it would be easy to sell FTX and have it relaunched. The SEC has done a lot to damage ordinary crypto users with all of its mistakes and aggressive policies, and it is now at a point where it will be forced to soften its tone.
Maybe FTT goes to 0 if the token becomes useless either because the exchange isn't relaunched or if it's relaunched, it's relaunched without the use of FTT. However, if it is used for anything, if the exchange relaunches, it could rally hard from here. Under new management, it could even trade back to where it was before the collapse. Overall, FTT is a potential 5-10x from here, as it's trading on most exchanges outside the US, isn't trading on US exchanges (won't be delisted), and probably won't be deemed a security by the SEC.
To close things up, FTTUSD is in a range. It first took out its high at 3$ and then its low at 0.8$. Therefore the next move from here is going to be higher. FTTBTC is showing massive bullish divergence and is slowly trying to reverse its bearish trend. Putting a small amount in FTT and forgetting about it, like a mini investment or long-term call option, is probably a good idea.
My only other proof is the screenshots I shared, but that's the only thing I could do. I am quite upset because it was a perfect idea right before the announcement that efforts to revive the exchange were official and the process was on. I tried to contact the moderators here, but they insist that because I shared a link, my idea had to be banned. My idea got banned because I mentioned the account of a coalition of some FTX creditors who have been trying to resurrect the exchange for months. Again, I don't get that policy, especially as Tradingview allows people to share links on these ideas, but these are the rules. All I have to say, is if you are sharing any ideas, make sure you don't share links from outside sources.
The idea
'Buying FTT with the expectation that FTX 2.0 will be launched. Some major players in the crypto space are pushing for the relaunch of the exchange, and this account is from a coalition of FTX traders that want to revive the exchange.
I believe that the exchange can be relaunched. Why? What would be the benefit? It would be a clean slate. No issues with regulators and a huge customer base. If the FTT token remains, then it wouldn't be a security.
Relaunching the exchange when other exchanges are under pressure and the SEC is cornered is the best time to do it. It's one of the ways to give money back to customers slowly and have people trade on it. Allowing creditors to trade their claims, distributing illiquid holdings rather than selling them for nothing, and having a solid community that wants to see the exchange succeed would greatly benefit everyone involved.
As I mentioned in my recent ideas, the SEC is cornered; they will try to do anything they can to regain trust and stability. For example, they 'postponed' a fine on BlockFi to help their customers get more money back. With many new traditional firms wanting to enter the game, it would be easy to sell FTX and have it relaunched. The SEC has done a lot to damage ordinary crypto users with all of its mistakes and aggressive policies, and it is now at a point where it will be forced to soften its tone.
Maybe FTT goes to 0 if the token becomes useless either because the exchange isn't relaunched or if it's relaunched, it's relaunched without the use of FTT. However, if it is used for anything, if the exchange relaunches, it could rally hard from here. Under new management, it could even trade back to where it was before the collapse. Overall, FTT is a potential 5-10x from here, as it's trading on most exchanges outside the US, isn't trading on US exchanges (won't be delisted), and probably won't be deemed a security by the SEC.
To close things up, FTTUSD is in a range. It first took out its high at 3$ and then its low at 0.8$. Therefore the next move from here is going to be higher. FTTBTC is showing massive bullish divergence and is slowly trying to reverse its bearish trend. Putting a small amount in FTT and forgetting about it, like a mini investment or long-term call option, is probably a good idea.
Trade closed manually:
Closing the trade manually because my idea has been unbanned. The moderators saw my case, and they removed the ban. I'd like to thank them and the whole Tradingview team as a whole. They've been doing incredible work over the years. When I said the rules are the rules, I meant it. It was my mistake to add a Twitter account like that, as it could be any account for any reason, so the moderators have to limit any potential abuse.
