Quote from: fr4nkthetank on Today at 12:53:29 AM

so.....lemme get this straight
Binance dumps FTX tokens knowing they'll be fucked since, well, they use FTX as collateral for loans or whatever (...remember cost of creating an FTX or token is 0.0000000000001$ on the blockchain)
FTX is fucked
Binance points gun at FTX and says gimme your non-us assets at what, a huge discount from highest valuation (dont think we know the price yet), or well dump more tokens and you'll be so fucked
Alameda is just his personal trading firm to front run clients and do the arb in house, they say "well buy all the tokens"
But they are full of diesel sludge because all their capital is probably loans based on worthless shitcoins they borrowed from customers at FTX
So they fold and the Sam guy cries in his 100s of millions or whatever of funds

And so the current cycle is coming to an end, where nothing was real and all was smoke and mirrors.

Stay tuned for the next pump, spring 2024 first wave, autumn 2024-winter 2025 is going to be fun (just my prediction)

Although if anyone remembers, my superbowl crypto-ad prediction seems to have come true Grin

You are right, but if speculators cannot make money speculating and loans are "not working" and even Saylor's hodling did not work 'yet", then what wall Street would be able to bet on?
Just trading bitcoin up and down?
They would be left with your conclusion that "nothing was real and all was smoke and mirrors" and might even might include bitcoin in that "nothing".

You see, they (PTB) always feel that people with the right connections would "make it" and if Celsius/"The Machine" was cryptocurrency Bear stearns, then I am afraid that FTX/SBF/Alameda could become a "Lehman". However, if CZ would successfully plays Bernanke/Paulson/Geithner role, then we might be OK. I just don't see major institutions in it (the whole space) after this debacle.