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FTX was the second largest CRYPTO Currency Exchange and its failure is resulting in major CONTAGION throughout the whole of the Crypto sector as a result of losses incurred by Investors, Customers & other Crypto Businesses. In this video I look at how much money has been lost by all of the different classes, provide details of the ongoing contagion and discuss the market outlook for Crypto businesses.
For specific details please check out the CHAPTER list below.
Thanks for watching and please LIKE and SUBSCRIBE.
Chapters:
0:00 Intro
1:41 FTX FUNDRAISING
4:25 INVESTMENT FUNDS
10:21 FTX CUSTOMER DEPOSITS
12:51 CRYPTO CONTAGION
16:53 MARKET CAP
18:18 SUMMARY & CONCLUSION
#ftx
#crypto
#blockfi
#fraud
#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds
26 Comments
YOU'RE GROUNDED š¤¬š¤¬š¤¬š¤¬š¤¬
I'm old as Moses and years ago when Crypto became a "thing", I opened on line what a scam it was, simply because you were buying WHAT? All I got from the comments was a lecture on "worthless fiat money". I told my detractors to send me their cash FAST!! before it was worth nothing. I'd send them a valuable ash tray or bag of M&M's in return. I never had any takers though. š¤ They told me over and over that an old fart like me "just didn't understand". I wonder how they're doing now. I might buy a Bitcoin when it hits $300 just for the grandkids. š„³
Iām proud I didnāt take the bait on this madness. It reminded me too much like Aesopās fable the goose that laid the golden egg.
FTX Founder Reportedly Cashes Out $684K After Being Released On Bail. SBF has allegedly cashed out $684,000 from a crypto exchange in Seychelles while being under house arrest.
It's obvious by every crypto exchange that's gone down that they're all a house of cards built on fraud
bibyenance
These eye-watering losses by GREEDY 'investors', just Karma catching up with those who would rule the world.
Maybe instead of doing the actual checks they all just got to sh@g Ellison…?
A punch in the face of all these cocaine-driven conspiracy theorists who advocate for less government regulation. š
(Don't snort cocaine before doing due diligence).
Such fraud. These companies claim ādue diligenceā but they didnāt do shit! š”
All Crypto is a fraud. A fool and his money are soon parted.
I LOVE U JOE
The end of crypto will be like one of those happy announcements that a lingering, horrible disease has finally been eradicated. Plus I'm really really looking forward to lots of schadenfreude over whining crypto "investors". It's a certainty, as predictable as the orbits of the planets, that those heroic libertarian chuds are going to demand regulatory protections and bailouts. It's what they are.
11:05 – 11:45 (this video)
1:13 – 1:19 https://www.youtube.com/watch?v=xb0WtaYsbus
Thanks!
I often comfort myself at the thought that it was mostly large institutions that lost money in this situation. But your video reminds me that often times, big institutions manage money for little people such as pensions, etc. Many of us who are not exactly economically savvy put our trust in the hands of professional institutions, hoping that they have our best interest at heart. But the appalling lack of due diligence by these large firms should be a cautionary tale that we may need to keep a closer eye on the watchers.
Its weird how its so busting but the values are kinda still there
Its not busted its holding so whats really like is the rest is rippoffs thats not shaken out yet
as stated by others below – the attraction of ftx to many was NO REGULATION, closely followed by FOMO (fear of missing out)/greed
The investment firms can be sued for billions, which will probably break some of them.
Alameda lost $6B dollars that quick? How did they loose it they need to prove that?
Boy, are these investing entities lying and trying to cover their asses. If I was a member of the Ontario Teachers Union, I would be so furious. How can you do ādue diligenceā when these entities didnāt even HAVE working Boards of Directors? Iām a lawyer but donāt deal with stock or issues like this- but I canāt see how a civil action for negligence wouldnāt lie against these entities by the teachers or other individuals who ātrustedā this bullshit āexpertiseā.
Fingers burned? I think, their asses is more the body part that has been burned….
Not a problem – Tulip futures are sure to make a come back.
All built on the sand. I'm glad that Vanguard didn't put money into this pyramid. (At least I hope they didn't ni T.Rowe Price. )
Your explanation is realistic and straight to the point . On the other hand there are many ways of manipulating the market . I am glad as a small investor , that I am putting my hard earned savings into the most , better said the only transparent market there is day trading . If not for yield via bitcoin trading, this period would have been tough for me. Playing it safe regardless of what is happening in the economy is key. you must work with an advisor. Mrs. Florence Osborn is my financial advisor, always there to guide me to avoid making looses while trading. I copy trade with her trade signal and i have accumulate over 22.5 btc as a trader with an initial of 4.7 btc as a hodler. she's trust worthy to guide you to invest trade and earn. If you trade through her guidance and trade signal, profits are assured.
Probably the due diligence was extensive talks with FTX's auditor in the Metaverse.