Quote from: EarnOnVictor on November 16, 2022, 08:17:47 AM

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. More investigations should shock us more over time.

It's worse than Mt Gox, because FTX happened at a time when money is fleeing risky assets to the USD.
There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore.
So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so.