BITCOIN as an alternative to regular currency
Have you noticed how a lot of these exchanges or third parties are built on sand?
https://twitter.com/SBF_FTX/status/1590709166515310593
Crypto was supposed to be exempt from all the problems in traditional financial markets, but instead we are seeing runs on leveraged entities and other associated problems. The currency has changed but the problems haven't.
https://twitter.com/i/status/1590564647920234499
https://twitter.com/SBF_FTX/status/1590709166515310593
Crypto was supposed to be exempt from all the problems in traditional financial markets, but instead we are seeing runs on leveraged entities and other associated problems. The currency has changed but the problems haven't.
https://twitter.com/i/status/1590564647920234499
In the space of days, FTX went from a $32 billion valuation to bankruptcy as liquidity dried up, customers demanded withdrawals, and rival exchange Binance ripped up its nonbinding agreement to buy the company. FTX founder Sam Bankman-Fried admitted on Thursday that he “fucked up.”Euler wrote: ↑Fri Nov 11, 2022 4:28 pmChapter 11
https://twitter.com/FTX_Official/status ... 52/photo/1
- Dublin_Flyer
- Posts: 694
- Joined: Sat Feb 11, 2012 10:39 am
So many stories and books about crypto, but they always end at chapter 11....or at least they should, caveat emptorEuler wrote: ↑Fri Nov 11, 2022 4:28 pmChapter 11
https://twitter.com/FTX_Official/status ... 52/photo/1
FTX investors .. $400m-$900m-$1,7Billion if you really fancied it.
Sorry to see Alan Howard on there (gave my son a bursary).
Sorry to see Alan Howard on there (gave my son a bursary).
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- wearthefoxhat
- Posts: 3243
- Joined: Sun Feb 18, 2018 9:55 am
The clients' money seems to be spent/invested and never ring-fenced in the unregulated companies/exchanges space. Some are subjected to straight out fraudulent activities.
Mount Gox
Bitconnect
One Coin
Terra-Luna
Ethereum Max (Emax) Digital Token (Kim Kardashian sponsored)
Coinflex (Doug Polk sponsored)
FTX
Almost all the NFT's as well.
Probably £100's billions between them that includes Joe Schmoe's hard earned along the way.
Mount Gox
Bitconnect
One Coin
Terra-Luna
Ethereum Max (Emax) Digital Token (Kim Kardashian sponsored)
Coinflex (Doug Polk sponsored)
FTX
Almost all the NFT's as well.
Probably £100's billions between them that includes Joe Schmoe's hard earned along the way.
UK Treasury considering creation of a digital pound
And the government was "a long way down the road... to establish a regime for the wholesale use, for payment purposes, of stablecoins".
Stablecoins are designed to have a predictable value linked to traditional currencies or assets such as gold.
https://www.bbc.com/news/technology-642 ... me=twitter
And the government was "a long way down the road... to establish a regime for the wholesale use, for payment purposes, of stablecoins".
Stablecoins are designed to have a predictable value linked to traditional currencies or assets such as gold.
https://www.bbc.com/news/technology-642 ... me=twitter