FTX Losses & Contagion are Destroying Crypto Market as Investment Funds & Crypto Businesses Collapse

Please Support The Channel:
YouTube Super Thanks (click below)
YouTube Membership (click below)
Click thro the link, buy your items as normal and Amazon will pay me a small commission

FTX was the second largest CRYPTO Currency Exchange and its failure is resulting in major CONTAGION throughout the whole of the Crypto sector as a result of losses incurred by Investors, Customers & other Crypto Businesses. In this video I look at how much money has been lost by all of the different classes, provide details of the ongoing contagion and discuss the market outlook for Crypto businesses.

For specific details please check out the CHAPTER list below.

Thanks for watching and please LIKE and SUBSCRIBE.

Chapters:
0:00 Intro
1:41 FTX FUNDRAISING
4:25 INVESTMENT FUNDS
10:21 FTX CUSTOMER DEPOSITS
12:51 CRYPTO CONTAGION
16:53 MARKET CAP
18:18 SUMMARY & CONCLUSION

#ftx
#crypto
#blockfi
#fraud
#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds

[kennethferland]

I wonder which is worse, the idea that everyone is lying about having DONE their due diligence, or that the standards for due diligence are this low in the financial industry.

[tc]

It’s ridiculous to state that they carried out due diligence when they really only relied on FTX’s own statements. Due diligence is only effective when the assessment can be independently verified.

[suyang]

What a joke when they all say “robust/through/extensive due diligence was performed, but we were fooled” 😹😹😹

[tlocalgary]

I follow Buffett’s rule: if i don’t understand it, i don’t touch it.

[mauricebetzel]

For due diligence in Crypto you must also have the technical knowledge. The old rule 'only invest in what you understand' is even more relevant in this technical complex world.

[Jordan-Ramses]

'We hold the boards accountable' but somehow they didn't notice FTX doesn't even have a board. What a pack of nonsense.

[lesliefranklin]

The main allure of crypto is that it is not (yet) regulated. The downfall of crypto is that it is not (yet) regulated. Several of the major investors relied in part on regulation that was not there. Sadly, it appears that they did *not* do their due diligence.

[kokomo]

How can anyone claim to have done due diligence? What did they look at, there were no real records?

[jer]

Also lost about 500-600 euro in the last 15 months or so on crypto. Not planning on going in again. Could have bought myself some nice extra silver or gold instead. Or just a nice dinner or 2.

[steveandthedogs]

It has always struck that crypto is a modern South Sea Bubble or Dutch Tulip Mania.

[kenbarney]

The fund manager for the Ontario Teacher's pension should be brought up on criminal charges. Investment funds like Blacrock can invest in whatever baseless speculation they want but a pension fund should be held to a higher standard, only investing in companies that have real world value (large cash reserves, hard assets like factories, farmland, a long running, stable customer base, etc.) That fund manager was reckless, should be criminally reckless.

[toddclean]

Several companies said they did "due diligence" Yeah right. FTX was a corporate mess. Easy research job.

[thetruthhurts]

A computer digging a hole for no reason should elicit about as much cash value as me digging a hole for no reason.

[bighoss]

Never under any circumstance underestimate the power of stupidity.

[gregiles]

Crypto reminds me of the time when I was a kid making a house of cards. Everything was going fine until my sister blew it down. SBF even looks like my sister.

[benryan]

Well done in cracking 225k subscribers in 2022!

[sep]

I didn't understand crypto so I never got into it. Those "coins" seemed worth nothing to me. First the story was that it was the new money but values where so volatile that it just wasn't feasible. Then the story became "store of wealth" and still the volatility made it not feasible. And the deregulated nature was supposedly a benefit which I didn't believe in at all. And here we are. The whole crypto space is collapsing because the unregulated nature brought in a whole lot of scam coins and scam companies.

[devonjardine]

If this is what "robust due diligence" looks like then I don't want to know what incompetence actually looks like.

[Enforcer_WJDE]

Due diligence....if they had really done that they wouldn't have invested into nothing.

[MartinSparkes-BadDragon]

I do love that the pension plan made headlines, but their investment was such a small part of their trading book that it could be almost considered a rounding error. I think the biggest fall out from FTX is the wealth redistribution where the money from FTX clients was misapproriated and passed to other parties. a $2000 loss to a person making 20000 a year is significantly more impactful than 90 million to a companay making billions per year.