A well known crypto newbie contact me about two crypto project he his currently holding, Mina Protocol and Fuel, the problem is Alameda and FTX are big investors of these two projects, he is asking if he should sell his bag and replace with other altcoin?
Is this a good reason to sell off your coins and replace with another that Alameda and FTX aren't involved? Pls drop your idea .
What will you do in this case?
He could keep it if he wants but consider the higher risk. But if that will happen to me, I'd sell them without hesitation just to give myself peace of mind. You can't sleep well if your investment is connected to a questionable and unreliable exchange. A good suggestion is to sacrifice these coins and choose Bitcoin instead of sticking to altcoins. Perhaps, they are dumping and the future is too unclear, not unless if they will invest in known altcoins like ETH.
If I were you OP, give them some time to think. I guess they are already old enough to assess the situation and I believe they know what happens to FTX now.