FTX claimed that “FTX is fine. Assets are fine.” and “FTX has enough to cover all client holdings.”. They were lying and the exchange actually went bankrupt and froze all withdrawals. Now they are selling off FTX to binance to cover their liabilities to customers.

FTX claimed that


8 thoughts on “FTX claimed that “FTX is fine. Assets are fine.” and “FTX has enough to cover all client holdings.”. They were lying and the exchange actually went bankrupt and froze all withdrawals. Now they are selling off FTX to binance to cover their liabilities to customers.”

  1. >FTX is fine. Assets are fine.

    >FTX has enough to cover all client holdings.

    https://twitter.com/SBF_FTX/status/1589598284322328579

  2. While this is bad of itself, I’m quite pleased.

    The thing about crypto it’s that there is no lender of last resort. There is no “too big to fail”. There is no moral hazard.

    Behave irresponsibly, get fucked. Good.

    Similarly: if you are relying on third party trust, you are relying on sand.

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