The risk of an FTX crypto contagion

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[PatrickMTrent]

We work for years to have, $1million while some people I know put thousand of dollars in some meme coins and they are millionaires.

[quixomega]

Treating an exchange like a bank account is absolutely not something you should ever do. They have no responsibility to act in your interest and there is no deposit insurance.

[piggsinablankie]

Every time a crypto entity says "We're fine, we have liquidity...", seems like that's the signal to run.

[dabsponge]

"doesn't happen on walstreet" ....Citadel does that with robinhood and PFOF, you just don't talk about it

[rosaliehultgren]

Fake token and synthetic shares are illegal too. No one is addressing this, why not?

[kathyandrew]

YOU WORK FOR 40YRS TO HAVE $1M IN YOUR
RETIREMENT, MEANWHILE SOME PEOPLE ARE PUTTING JUST $10K IN A MEME COIN FOR JUST FEW MONTHS AND NOW THEY ARE

[youtoobization]

Where's the money? Do you see BTC prices dropping every month? That's hundreds of billions of dollars lost. That's where it all went. He basically took his investor's money and bought BTC. Had BTC prices gone up, he would have made billions. But BTC price tanked, so his investors took all the loss. End of story.

[sanwright]

Bernie Madoff’s jail cell is empty and ready for SBF. Interestingly it’s located in “Bahama” North Carolina.

[darrenhere]

God gave us all a gift of discernment. I pray people use this gift.... Best to all.

[RorouniKuhn]

I don’t like that they’re calling them kids it’s humanizing in the sense that you feel sorry for them what they did is absolutely wrong and they knew better they’re grown ass adults

[Kushert]

He ran his exchange like Bitconnect 2.0

[dlayd]

FTX had liabilities owned to blockfi, part of the acquisition deal included getting rid of the FTX loans.

[loriann]

So they “ just lost” 1-2BILLION DOLLARS 💸 and they can’t find it ? Anywhere??? 😂😂😂😂

[beauroode]

The whole FTX failure just solidifies the truth that we need to move to Dexes for our transactions. The whole crypto industry was birthed from the failures of large, centralized, greedy institutions! Own your own keys! Become your own bank! And opt out of future centralized failures that are inevitable! May God bless all the good crypto projects that are working towards financial freedom for all!

[mike]

There are videos of this dude saying “yeah, I run a Ponzi scheme”

[kaczynskiwannafly]

I think the worst has already happened. I spent all my USDT on Bitcoin already. But I think it will take a long time to get to the bull run this time...

[christiantesla]

Why do you have 2 people who have no idea what they are talking about discussing this complex issue? It's super weird and bizarre to watch.

[heileopold]

Can we believe what these guys are saying? Bitcoin was supposed to be at over 100k according to Goldman. And it is falling now through the floor.

[Kushert]

So Binance expects this to happen again soon.

[markderksen]

Like a bank? You think the bank has the money?