Quote from: wxa7115 on December 03, 2022, 02:35:58 AM

Quote from: Yaunfitda on November 29, 2022, 06:52:24 PM

Quote from: omone1 on November 22, 2022, 01:58:25 PM

Now I understand what FUD really looks like. CZ tweet, FTX team reply with confidence, media interpret it with some analysis and datas, twitter begins the trend and the war starts, boom things begin to fall apart and more bad news come in, the hell is short off the market, confidence is lost and a free fall continues with more FUD. We're coming back better, we just need to root out bad actors.

I think it's more of social media pointing at CZ somewhat and blame him for the collapse.

He was supposed to be the savior, until he balk on the last minute maybe he has his own reasons to get out of the deal. And then again, there are personalities who interpret this wrongly to cause panic and so the price nose dived and up to now, we are still way below our psychological support of $20k.

Nevertheless it's not the end of it, crypto is going to stay despite the FUDs and what is going on with the ecosystem.

It is incorrect to blame CZ over this, social media is full of useless and emotional rants without facts behind them, it should be obvious that CZ backed out of his offer to buy FTX at first because he could, as he was not legally bound to buy FTX, but even more importantly he only needed to take a look at their books for a few hours to know there was no way to save the situation.

And he was right, FTX declared bankruptcy just a few days later, which shows he was right about the reading he had about the desperate situation FTX was.

Getting your point and adding my opinion about FTX case, CZ is not an ordinary businessman he understand the structure, and he knows if he will benefit from the business that he will be buying, FTX is on the hot position and taking step to takeover might not be good for CZ's business as if things like this happen and he already own and run the business it will reflect and possible to bring negative impact to his other business.

He just did what he thinks is right, not buying or continuing the negotiations as FTX is no longer capable of surviving.