FTX has disappointed everyone and mind you, this is worst than the time of Mt.Gox when crypto was still fighting for more adoptions. I believe they caused the panic and started the distortion thinking that they will get away with it. This is particularly as their headquarters is in Nassau in Bahamas where they believe regulation is much weaker than in the US, EU and others. But the country has proven itself now.

If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired.