Quote from: erk on November 21, 2022, 07:54:40 AM

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.

It could never be worse than mt.gox, the initial "hack" for mt.gox was 400k bitcoins, can you imagine how big that is? Sure, wasn't as big at that time, but that money is still out there, I am sure some people must be tracking it, or maybe its not moving at all, but at the end of the day its not burned, it's "there", which means that we are talking about at least 5-6 billion dollars all stolen in a single move right there.

And at top prices, this was at a 20+ billion dollar deal, and yet because the price was low those days, it looked like a few dozen million dollars at most. I believe nothing in history of bitcoin world will be bigger than mt.gox ever.