Crypto

Crypto Twitter ເສຍໃຈກັບການລົ້ມລົງຂອງ FTX

11/10/2022
ຂ່າວ Bitcoin Ethereum

The world’s third largest exchange FTX collapsed within a matter of days and the community’s pain is visible to all on Crypto Twitter.

The severity of losses

Crypto Twitter has been plainly demonstrating the severe results of the FTX collapse.

ມີ ຈຳ ນວນນັບບໍ່ຖ້ວນ ນັກລົງທຶນ who had more than half of their funds on FTX and are concerned if they can ever get them back.

Amongst them, some nervously hope they can retrieve their investments, while others have already given up. An investor ຕອບວ່າ to the Tweet above to say:

“Your funds aren’t on FTX. Your funds are gone.”

There are also investors who ການສູນເສຍ their savings due to the plummeting FTT. Since FTT is FTX’s native token, it is not surprising for investors to hold substantial amounts of FTT for trading purposes. Even if FTX somehow manages to enable its users to withdraw their funds, the ones who invested in FTT will still be at a loss.

FTT’s collapse also reminded the community of the Terra-Luna collapse, which only happened six months ago. Some members of Crypto Twitter drew attention to the damages these collapses caused to crypto’s reputation and called for crypto regulations to prevent similar catastrophes to occur in the future.

On the other hand, Science.io’s CEO Will Manidis is insinuating that FTX' CEO ແຊມທະນາຄານ-ຈືນ was created by an intelligence agency that wanted to prevent its adversaries from laundering money through crypto.

According to Manidis, FTX’s off-shore placement and its unauditable transactions were arranged that way on purpose.

ຄວາມເປັນມາ

FTX first drew attention when Binance's CEO Changpeng (CZ) Zhao‘s Tweet on Nov. 6, which ເປີດເຜີຍ Binance’s decision to liquidate all its FTT holdings due to “recent revelations that have come to light.” Since FTT is FTX’s native token, the community was quick to jump to conclusions and assumed a Terra-Luna-style collapse was on its course.

SBF was quick to ຕອບສະຫນອງ to CZ. Even though he deleted those Tweets now, SBF assured the community that FTX and its assets were fine on Nov. 7. Despite his efforts, FTX reserves started to ຕົກລົງ and the community started to ສູນເສຍ its trust in SBF and FTX.

On Nov. 8, CZ Tweeted to inform the community of Binance’s intention to ໄດ້ມາຢ່າງເຕັມທີ່ FTX and help cover the ສະພາບຄ່ອງ it has been facing. Within 24 hours,  a U.S. agency opened an investigation into FTX, which caused Binance to ກັບຄືນໄປບ່ອນອອກ on its acquisition offer.

According to CryptoSlate data, the FTT token lost almost 90% of its value since the beginning of the week, falling from around $24 to $2.8 Solana (SOL) also took its fair share of the tremble and recorded around 50% loss, retreating from $32.7 to $16.98. In addition, SBF’s ຄົ້ນຄ້ວາ Alameda website also ໄດ້ໄປ ເອກະຊົນ.

Reaction towards CZ

Another popular hashtag on Crypto Twitter is #CzBinance, at the time of writing. Given that everything started to unravel following CZ’s Tweet on Nov. 6, some members of the community are accusing CZ of bringing FTX down intentionally.

Source: https://cryptoslate.com/crypto-twitter-distraught-over-ftx-collapse/