Bitcoins/Litecoins/Virtual Currencies

Flobee

Flobee

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TLDR - If you are sitting on stablecoins at all you might want to get out to cash. I imagine USDC/Tether/DAI will probably be ok, the rest might be in trouble

FTX is getting run on, big time transfers off of their platform of assets across the board. They may be able to defend it, but this is the same thing that happened with TERA/LUNA + Celsius. If their stable coin de-pegs this could cascade across the space the same way that 3AC defaulting did. CZ from Binance announced he is liquidating all of their FTT holdings which is a massive amount. Potential big price drops incoming, worth keeping an eye on.

This comes as a result of research showing that a massive % of their worth is held in their own stablecoin and they may in fact be insolvent or nearly so.


 
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Sanrith Descartes

Sanrith Descartes

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Flobee said:
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Did anyone honestly think the Feds were gonna let crypto be this thing that was outside their purview? I mean, lets get real. We have at least one state taxing or trying to tax collecting rainwater for fuck's sake.
 
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Flobee

Flobee

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Jysin said:
Crypto volume spike
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I was about to post this. Binance successfully attacked and acquired FTX lol. I have to imagine the seethe behind the scenes of having to paint this situation as mutual and amicable is significant. Brutal

 
reavor

reavor

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Flobee said:
I was about to post this. Binance successfully attacked and acquired FTX lol. I have to imagine the seethe behind the scenes of having to paint this situation as mutual and amicable is significant. Brutal

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Flobee

Flobee

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Mist said:
How's that whole decentralization thing working out?
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It's a lie for everything that isn't BTC. People will figure it out eventually.

Also worth noting that Binance can still back out of this deal, but it forced FTX to admit they're insolvent. If they do, expect more fireworks.
 
Falstaff

Falstaff

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This is FTX non-US operations just FYI; US will remain independent from Binance.

Not sure that matters I just felt like posting it!
 
Jysin

Jysin

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Well, Bitcoin just shit the bed again (18.4k) after the bounce on the Binance / FTX news. Took equities down with it.
 
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Flobee

Flobee

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Jysin said:
Well, Bitcoin just shit the bed again (18.4k) after the bounce on the Binance / FTX news. Took equities down with it.
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If stuff like this is common, its gunna get a lot worse. Crypto scammers destroying lives

 
Sanrith Descartes

Sanrith Descartes

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Flobee said:
If stuff like this is common, its gunna get a lot worse. Crypto scammers destroying lives

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No sympathy for these big pension funds and the like. They are all led by corrupt shitheads who are unqualified to manage them.

1667935312622.png
 
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Flobee

Flobee

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I'm looking to grab more BTC around 14-15k if we see it. I suspect it won't go below ~13k and probably the best deal you're going to get. I imagine this event will result in BTC dominance ripping once the dust settles. Good luck on your gambling chips, and hope you're holding your own keys, because this is likely to spread. Platforms like Blockfi, NEXO, etc are at risk as well.

Funny coincidence this happens on election day eh?
 
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