FTX

harvested

You can see in this animation the price was below the lower range during FTX lows?

sex6666666

Tge same it happened to FTX, but without the CEO getting to prison

BradVet

Been buying for around 2 years every month, bought when FTX collapsed, still did my monthly dca this month, won’t be selling nothing yet.

Embarrassed-Score714

While the sudden influx of funds into Grayscale Bitcoin Trust is indeed surprising, it's important to consider the broader market context and potential factors driving this anomaly, such as investor sentiment shifts or institutional strategies. Contrary to the positive narrative, the persistently high management fee of Grayscale's ETF, coupled with concerns around its association with troubled entities like FTX and Genesis, may continue to pose challenges to its long-term sustainability and investor confidence. I share weekly crypto alphas you don’t want to miss: [https://cryptofada.substack.com/](https://cryptofada.substack.com/)

SC2000c

If politicians were companies , she would be FTX

bbiittccooiinn

###Friendly periodic reminder Don't give up your Bitcoin chasing crappy digit yield with those "earn interest" companies. There are a lot of shills churning referral bonuses or these companies using bots to farm new customers. It's like picking up pennies under a steamroller. The highly likely ending is where you'll be next in line during a lengthy bankruptcy process and receive cents in the dollar back. If the below companies didn't exist, BTC would have reached over $100K last cycle. Instead all these companies did was suppress real price discovery by converting Bitcoin people transferred to them to shitcoins in order to generate the yield to pay you, before pulling the rug right under their clients. Don't think this couldn't happen again. Who will be next? Nexo? Buy Bitcoin and withdraw to your cold wallet. Don't keep it on an exchange either. - 2021 - ACX - 2021 - Mycryptowallet - 2021 - Cobinhood - 2021 - Bitgrail - 2021 - Coindelta - 2021 - EXX - 2021 - VCC Exchange - 2021 - WEX - 2021 - COSS - 2021 - Bithumb - 2021 - BTCEXA - 2021 - Liquid - 2021 - Nova Exchange - 2022 - Three Arrows Capital (3AC) - 2022 - Alamada Research - 2022 - BlockFi - 2022 - Babel Finance - 2022 - CoinFlex - 2022 - Celsius - 2022 - Zipmex - 2022 - FTX - 2022 - Freeway - 2022 - Hodlnaut - 2022 - Ikigai - 2022 - Vauld - 2022 - Voyager - 2022 - West Realm Shires Services - 2022 - Genesis - 2022 - Myconstant - 2022 - Digital Surge - 2022 - Mine Digital - 2022 - Atom Asset Exchange (AAX) - 2022 - Midas Investments - 2023 - Liquid Global - 2023 - The Rock Trading - 2023 - Silvergate - 2023 - Silicon Valley Bank - 2023 - CoinLoan - 2023 - BKEX - 2023 - Patricia - 2024 - who's next?

Agreeable_Kiwi_4212

The worst one was when FTX collapse happened. My friends were sharing that "they lost" a ridiculous amount of money. "I was almost a millionare bro, i lost 15 milion pesos on FTX" . Dude you just said you couldn't pay your intermet bill last month what the fuck are you talking about.

kpooo7

Well to quote the article you site there was plenty of blame to go around “As I mentioned in the previous article, there is plenty of blame to go around for why GBTC became such a toxic wrecking ball for the broader cryptocurrency industry. You can blame the crypto lenders for their shockingly poor risk management. You can also blame hedge funds and institutional investors for putting on extremely risky trades with obscene amounts of leverage. You can blame Genesis/DCG for providing the leverage in the first place to pump its revenues. Lastly, you can blame the SEC, which denied Grayscale from converting GBTC into a spot Bitcoin ETF for years, which would have eliminated the market inefficiency and better-protected investors”. So DTC was making money legally and FTX and others were over leverage or crooks, sounds like 2008 all over again.

ResponsibilitySea327

Grayscale is a bit unique to other ETFs. They were a trust that held BTC deposited by accredited investors (many of which were institutions). That BTC was prohibited from being sold due to the bylaws of the trust. The deposits were exchanged for shares of the trust (which in turn were locked for 12 months). Ftx, Genesis and other exchanges had deposited BTC there in exchange for shares, which at the time traded at a significant premium. It was free money (50% return) which ultimately distorted the market and caused massive over leveraging. It is theorized that Grayscale has as much to do with the collapse as anyone. Ultimately the premium turn negative before the crash and the crash itself crushed the trust. FTX and Genesis went bankrupt and all those shares were locked via bankruptcy proceedings. With the trust converting to an ETF that BTC was now sellable. With the market returning to positive levels, retail started realizing profit and selling ETF shares (or converting it to a lower cost fund), hence outflows n And with creditors finally winning relief from the bankruptcy courts they also began selling en masse (likely required to sell as cash versus in-kind). It all results in negative pressure.

suninabox

> I was just giving an explanation why Tether has such a high market cap compared to USDC. And I was just pointing out "they're printing billions of tethers from nothing and loaning them to shady exchanges" is a completely separate explanation from "other stablecoins charge less for withdrawals". That Tether charge more for redemptions is just a mitigating factor that helps prevent runs on Tether. It's not the cause. Tethers have to be printed in the first place, and the explanation for why way more Tether's are printed than other stablecoins isn't "a bunch of people trust them with their USD". The likes of Celsius, FTX etc don't need to worry about trusting Tether in the first place because they're not making USD deposits. This prospective lawsuit [seems to indicate that Tether was loaning Tether to FTX on credit, who then sold it for a profit on their exchanges to then deposit USD with Tether to cover the credit](https://beincrypto.com/ftx-deltec-tether-usdt-trading/) The risk is all externalized to bagholders who are being manipulated by wash trading into paying slightly more than $1 and accepting slightly less than $1 for Tethers.

Awkward_Potential_

In the next 20 years we'll probably see one of these ETFs as the next FTX or Gox. Someone will move from Coinbase Custody and start a custodian of their own. They'll put someone's nephew in charge of the keys and they'll lose them or steal them.

mrjune2040

Yes and no. On-chain, sure. But as crypto matures centralised services remain the main source of fiat inflows for retail investors and remain susceptible to fraud. One of the most common equivalent scams is crypto is the ‘shell exchange’ that honey-trap users with high APR/free crypto but hold virtually no crypto. So uses pay in fiat and they can never withdraw. Or simply the insider ponzi approach enacted by Celsius, FTX, Cryptsy, MtGot over the last decade. And yes- people will probably come at me triggered and say ‘but that’s not crypto’s fault’. But it is crypto’s problem.

suninabox

> We know that FTX (or Alameda) acquired 37 billion USDt from Tether, I think it's unlikely that they could have acquired that much from Circle How is that a point in the "legit" column? We know Tether loaned Celsius (the ponzi scheme) 1 billion Tether in exchange for crypto collateral, something they claimed they don't do. So it seems the answer is pretty clear that the reason Tether is so far ahead of other stablecoins in market cap isn't because so many people are eager to deposit their hard earned USD with such a trustworthy organization, but that Tether are shady as shit and are willing to print Tethers backed by nothing and cut shady deals with other shady exchanges.

coinfeeds-bot

tldr; Nas Daily, a video producer, featured Binance CEO Changpeng Zhao and FTX founder Sam Bankman-Fried in videos. Zhao admitted to violating U.S. anti-money laundering laws, resulting in a $4.3 billion fine for Binance. Amidst controversy, Nas Daily removed the video of Bankman-Fried following his company's bankruptcy speculations. Despite these issues, experts predict positive developments for the cryptocurrency industry, including a potential bull run and ETF approvals. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

WoodenInformation730

We know that FTX (or Alameda) acquired 37 billion USDt from Tether, I think it's unlikely that they could have acquired that much from Circle. We don't know how much USDt was issued with their %.1 fee, I would assume their largest clients get special discounts.

advias

Remember when FTX was the expert.

gtbifmoney

He survived the 2022 crash and the FTX crash and came out even richer, you dumb bitch.

Abby1994_21

I use to use Coinbase alot in the past as well but they have a very high fees when buying bitcoin. But there derivatives services are good but as i am getting involved in the eco system of bitcoin and what is stands for, I am starting to explore to finance in a DeFi way rather than Centrailized way. espically after what FTX and blockfi stuff, Plus coinbase tends to go down alot when the bitcoin is going up. But curious to know your experience on crypto com how are there services hahaha. I am degn myself for trading what type strategies or dervatives do you trade?

HolidayAnything8687

Basically pioneered wash trading, SEC crypto fraud charges, manipulates his own market, plagiarized white paper, countless lies and fake partnerships worth billions, ripped off FTX losers after claiming to bail them out, “buy my shitcoin”.

Informal-Extent9764

Aliens could land tmrw, Russia might nuke Ukraine in a week and everything goes to shits! Anything's possible! But, when you're trading, you better have a gameplan, otherwise you'll lose your shit real fast. The best gameplan for long term so far has proven to be projecting past cycles onto the future while also allowing for variations in timelines, volatility etc. GamePlan 1. Don't go all in. Assume that black swans are possible and it could all go to shits. Invest amounts you're willing to lose! 2. Once that's established, if you're still in, assume that the bull market is not over since this is still in line with previous cycles. 20-30% dips are nothing in crypto. If you still have ammo left, buy the dip. If you're losing your shit rn, then you're not cut out to play in this market. 3. Have a clear exit plan. Mine is to start selling (slowly) once it passes 90k. In my experience those who get rekt are, 1. retailers who are new and buy the hype. 2. Those who are very arrogant thinking they can time the market or that they somehow know or understand something others don't. Those are usually the ones who do margin trades and get rekt real fast. Then they become bitter and start shitting on crypto. This market requires patience, requires humility. You can't outsmart this market, that said this market is not your enemy and is not out to get you as long as you respect it and respect the long-term cyclical nature of it. Fundamentals vs Technicals: The most fundamental thing in this market is that Blockchain technology and crypto is not going anywhere. 16 years in the bitcoin has not been hacked despite it's $1 trillion market cap. This technology is in line with printing press, internet, etc. The genie is already out the bottle. You can't put it back in. This one fundamental trumps all other fundamentals. Mt Goxs, China ban, FTX and other exchanges/funds going down, SEC hostility - just to name a few. In the grand scheme, all of these events were just a small bump in the road. The reality is that Bitcoin is ANTI-FRAGILE. The more stuff you throw at it, the stronger it gets. This is the most important fundamental. Which means IN THE LONG RUN BITCOIN IS GOING UP (disclaimer: unless aliens land or we nuke each other to stone age). That said don't try to time this market or you'll get rekt.

Get-It-Got

Yep, I agree. The one area of this that might get into tinfoil is the tokenization of securities, because this rule would impact that as well. Among the likes of $GME and $AMC investors (of which I am one), there is the suspicion that tokenized shares, especially the ones created by FTX, were being used in their billions as locates for shorting the stock of these cmpanies into the ground. By yanking the ability to used blockchain assets as collateral, these types of assets could no longer be used for what is effectively naked short selling. Time will tell how correct the suspicions actually are.

YogSothothIsTheKey

I want to say thank you to CZ,he protect Binance users funds for real,safu wasnt a lie.Thats a big difference with SBF and FTX.Theres no innocent in this sector I think,probably any or almost all the Ceo of exchanges,brokers,market makers,hedge funds etc etc have dirty hands,but at least we can absolutely say with proud CZ WORK GOOD.He open the first bigger crypto exchange in the world,bringing on board millions of people in this sector.He dismiss and delete his stablecoin BUSD without users loss their money,doing gradually without a depeg after the law problems with SEC.He protect users money in general quitting his job and collaborating with the US government about his lawsuit of money laundering.He wasnt forced to go to US,he's not an american citizen,but he know that choice was bad for Binance so he didnt escape or other shit.So thank you CZ for all what you did to improve our communty and all good work.Good job,we well see to the moon!

Leading_Bet4937

The least secure thing is leaving it on an exchange. That’s because you don’t really even know if you have it. There have been enough instances like Mt Gox, FTX and Celsius where the exchange was basically just lying. Hot wallets are better, but not entirely secure and someone who could compromise your phone could likely get to your bitcoin. Air gapped cold wallets are the most secure, but less convenient. That’s just my perspective

OkFoot1842

That's all the data we have though. I'm not making any promises these are just my estimates. Historically, 6 months after the halving is when a parabolic move starts which lasts almost a year. This is caused by the halving itself which is a deflationary protocol against FIAT. Last cycle was hindered by FTX and all of the scandals and corruption. Now that this is mainly over with I believe this cycle should be clean. My only worries are: - Fed interest rates - Escalation of war (for now it seems that just proxy wars - BlackRock and other ETFs manipuating market - Future recession on the horizon These factors will decide how parrabolic the price movement will be. My best adivce is to exit sooner than later in 2025 and not to get greedy as the price will tank most likely end 2025. None of this is financial advice, lol

conceiv3d-in-lib3rty

You don’t know if Tether is fully backed, or what shady past history they want to keep sealed, you’re merely assuming they are because nobody but Tether knows. For the past 8 years, they’ve outright refused to do a legitimate full 3rd party audit and not some bullshit “moment in time” snapshot assertation, with god only knows what numbers have been manipulated directly before the snapshot is taken.. 1 full audit and then all the FUD and accusations go poof and disappears. There’s an obvious reason for this and it’s not the bullshit excuse they’ve been giving for the past 4+ years that, “but, but nobody will do an audit for us”. You know, just one of the most profitable companies on planet Earth. They also could care less due to the fact they’re making ridiculous amounts of money without an audit anyway. For what it’s worth, I actually believe Tether is fully backed and has likely been pushing extremely hard these past couple years to legitimize their business and clean house. They know this is essential for longevity. But I have also have absolutely no doubt that one of the reasons Tether was able to rise up to the giant it is today was by doing incredibly shady, illegal shit throughout its existence. Which is why they are still refusing a full audit. There’s more than enough examples of this against Tether throughout the years for me to believe it to be true. (directly funding the FTX ponzi, giving SBF keys to the money printer, $33b USDT created and then unaccounted for with Alameda, 2017 bullrun market manipulation and the propping up of the price of BTC, knowingly washing money for the Mexican cartel, etc, etc)

vattenj

FTX is not regulated as some very old exchanges like Kraken and Bitstamp, I never use any exchange that is less than 4 years old

FineWhineNPeachMints

Internet Computer by Dfinity. It uses HTTPS outcalls. Other blockchains need oracle services like Chainlink to bring in outside data. ICP is the most advanced blockchain, 8 years in the making, but their launch was intentionally botched by SBF on FTX, so reddit assumes it's a scam.

Isabela_Grace

I never trusted FTX even though they bought Blockfolio I used to track my portfolio. You know where I keep my crypto? Offline.

f00dl3

TrustWallet seemed legit to me. FTX did too - so did Binance to many others. Including Matt Damon. :S

Mooncow027

FTX coin is still around. This could remain so as well. Not that I'd buy either.

Everythingisokey

FTX started to sell solana?

cs_zer0

This is the biggest crash since FTX collapsed I think

Lucky_Letter_2730

ok ok let me clear it up to u my man 1. Russians never said they dont know kraken , its u and the first time i hear this 2. nomatter how much u try its an ''unknownplatform'' that Canadian which believe me i even forgot the name and i cant go back read it as nothing changes 3. FTX, Gemini, Three Arrows Capital, BlockFi, Voyager Digital, Celsius, Hodlnaut, ( NO PROFESSIONAL TRADER WAS HERE ) HAHAHA u serious ? Those are place for the so called '' passive income '' the trend of 2021 HAAHAHA. Fees are high my man and those who know not like u werent there to trade :) As for FTX the night it went down i was depositing in Binance same minute to continue my selling pressure :) . Those who know trust me didnt touch the scam FTX while there was Binance , Kraken ruuning HAHAHAH !

CommercialFig2745

Except it's not unknown. You keep repeating the same false narrative. It's very well known in Canada. It's likely unknown specifically to you because it's a Canadian only app so other countries can't use it. Kind of like Russians saying Kraken is unknown because they're not eligible to sign up. Speaking of being a survivors game and feeling more secure in top exchanges...how are FTX, Gemini, Three Arrows Capital, BlockFi, Voyager Digital, Celsius, Hodlnaut, etc. doing currently? I guess bigger doesn't equal more secure after all.

Alfador8

Because the first one was cut short by the China mining ban. And the second one was cut short by the FTX collapse. IMO we had a premature peak this time because of the ETFs, which are still structurally bullish. We just aren't to the hype part of the cycle yet because we still haven't seen the supply shock from the halving play out.

tldrthestoryofmylife

IDK why you guys are cheering for this. I don't think CZ actually did anything wrong, i.e., bad for his *actual users*. However, I do believe that the mere existence of his company, that too in a non-US jurisdiction, made it hard for American regulators to come after him, and that alone was enough for the US to find something to arrest him on. It's likely a simple matter of "show me the person; I'll show you the crime". The executive arm of the American state basically believes that everyone is a criminal and it's just a matter of what you can get them on. Of course, when they fail to get someone on something big, they'll just arrest for something small and use knives in the dark (i.e., state-sponsored prison killings) to solve the problem once they're in the big house; sadly, this is probably what will happen to CZ, unless he's even more powerful than we thought. Even more sadly, this probably *won't* happen to SBF, who actually does deserve it (just ask the people who lost money to FTX/Alameda!), b/c even though he's actual scum (unlike CZ), he still complied with the deep state in the end.

AcceptingSideQuests

He was on the board of directors. He was trying to not pay back Genesis (a subsidiary he created and took out a loan of over $1.2 billion dollars from at a whopping 1% interest rate). Genesis approached Gemini and created the pitch for the Gemini Earn product. The deal looked good for everyone, at the time but behind the scenes the financials were being played with and lied about to the Winklevoss twins at Gemini. Ultimately, Barry had power to influence his delegated boards at Genesis and Grayscale. Only facing significant criminal fraud charges did the Genesis CEO backdown and sell out Barry (it was the right thing to do but at significant personal risk of harm and financial ruin but he was already there so going to prison wasn’t gonna happen). Turns out the Genesis CEO authorized the loan to Barry at Grayscale (the parent company) and the terms. When FTX fell apparent, Barry’s play was to play back Gemini for pennies and the Twins were like “Major fuck you Barry.” That table flip resulted in a lawsuit spanning 2 years (it’s still ongoing). Throughout that process we’ve learned Barry and Grayscale NEVER made required payments on their loan to Genesis because he was hoping that ship would just sink in the bankruptcy and then effectively the telephone line of money owed would be cut, which would royally fuck over Gemini and Gemini Earn victims due to Barry’s greed. As another update, Barry was kicked off the board at Grayscale in lieu of these events, it wasn’t by coincidence. It’s another attempt by Grayscale to distance themselves legally from Barry even though we all know full well the board of directors under Barry’s rule had a direct hand in voting on all these decisions, if the formal votes ever actually happened per the correct process and procedures required by law. Ultimately, this whole debacle honestly makes me appreciate the Winklevoss twins who historically have been painted as the greedy guys due to the Facebook lawsuit. The amount of effort they’ve put in to save their company, Gemini, and get the money back to their users is commendable because they could have opted to do nothing which would’ve had its own challenges but they didn’t do that. I hope history is more kind to them. Other than that, Barry is an all around bad person. He alone was responsible for mass manipulation of the crypto markets during the last major bull run. He made a killing and then rug pulled, taking to Twitter to brag with “Welcome to crypto.” I’m looking forward to the Netflix documentary on all of the above. It’s wild.

habsfanniner

So you don't think coinbase has the bitcoin. They claimed in Q4 2023 [Page 22](https://s27.q4cdn.com/397450999/files/doc_financials/2023/q4/Shareholder-Letter-Q4-2023.pdf), $192B of crypto assets. Now the ETFs own about $50B bitcoin. They have bought OTC. There are $1200B worth of bitcoin out there all told. Now what doesn't add up? You just talk loudly. Yes FTX lied, you are right to be sceptic, but do you have any proof, or just a feeling.

Objective_Digit

> Missed FTX and Terra, That just sounds like these things need more regulation.

crediblebytes

Don’t confuse an account balance in the custodian’s (coinbase) database with 1:1 to unspent UTXOs on chain. How did you think FTX became insolvent?

crediblebytes

This is absolutely true. Buying shares of a Bitcoin ETF with an in-cash redemption model doesn't directly equate to purchasing actual bitcoin. You are investing in a fund that aims to track the price of bitcoin using DERIVATIVES. The ETF can use leverage. They could be holding a bunch of Bitcoin futures contracts. The regulation only requires them to hold cash/asset equivalents as collateral in order to cover potential losses. This is why you see disclaimers always stating there is no guarantee they will deliver the same returns as bitcoin itself. So sorry to burst your bubble it isn't the same as holding bitcoin. 8/10 of the initial spot ETFs use Coinbase as a custodian and as of Sep 2024 coinbase was estimated to have around 1 million bitcoins. Self custody is the only way to move the needle on price. What good would a cash equivalent do you in a hyper inflation scenario? You thought FTX was bad, wait until they blame the entire financial crisis on bitcoin. [https://finance.yahoo.com/news/coinbase-holds-5-global-bitcoin-024646722.html](https://finance.yahoo.com/news/coinbase-holds-5-global-bitcoin-024646722.html)

C-Class_hero_Satoru

Man I survived 2021-2022, we had a lot more real FUD, for example FTX bancrupcy, SEC chasing alts, Ukraine war and nuclear threat, really bad economical prognosis This year things are much better than before, we don't have so much FUD and I don't understand why the price is down. Maybe it's just temporary

LunenburgSTL

I used both of those and FTX 😂 and ended up at Strike. Been there for a couple of years with no issues and low fees.

coinfeeds-bot

tldr; Multiple Ethereum whales have transferred over $140 million worth of ETH to exchanges, potentially indicating plans to sell amid recent price drops. Notable transactions include large sums moved to Binance and Coinbase, with one linked to a former FTX/Alameda wallet. Despite these moves and a slight weekly price decline, Ethereum's market cap remains at $387 billion. These actions suggest a strategic shift among major Ethereum stakeholders in response to market fluctuations. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

RandianHero

Oh, guys, really sad to hear that, however you’ve been warned once FTX crashed. Most of the “big” exchanges had already lost their reserves or gamble it, so now you should pay for “those situations” Actually, it is better to avoid such dumps as Bybit or Binance, who are listing tons of shitcoins and rug pulls, better use professional exchanges such as PrimeXBT or Bitmex, therefore you won’t have been affected anyhow in the future of coming regulations and reserve calculations 😅

caploves1019

Ever heard of FTX?

Yodel_And_Hodl_Mode

I'm glad you asked. Ledger can't be trusted. Here's a summary, with links to cite sources. 1: Ledger's word can't be trusted. The following was a lie: > Your keys are always stored on your device and never leave it > SOURCE: [btchip, Ledger Co-Founder, on May 14th, 2023](https://np.reddit.com/r/ledgerwallet/comments/13gs0xn/using_ledger_with_3rd_party_wallets/jk34kcn/) ...that's a lie because they added key extraction firmware to users devices. 2: Ledger's code can't be trusted. It can't be verified: > There's no backdoor and I obviously can't prove it > SOURCE: [btchip, Ledger owner & co-founder](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) ...they can't prove it because their code is closed source. 3: Ledger can't be trusted with your privacy. Their CEO said so: > "If, for you, your privacy is of the utmost importance, please do not use that product, for sure." > SOURCE: [Ledger CEO Pascal Gauthier, on video](https://youtu.be/M3VjQUcyZSY?t=2342) ...Ledger's CEO said that about Ledger Recover. "For sure." 4: Ledger's security can't be trusted. They've been hacked: > Ledger wallet users face mounting home invasion and other scareware threats as hacker dumps private customer information online. > SOURCE: [Cointelegraph, December 24th, 2020](https://cointelegraph.com/news/ledger-data-leak-a-simple-mistake-exposed-270k-crypto-wallet-buyers) ...they can't even keep *their* data secure. Don't trust them with your coins. 5: Ledger's code has been hacked too. > A Ledger employee just got phished. DeFi users lost over $600k > Ledger confirmed the attack was the result of a hacker compromising one of its employees via a phishing attack. After gaining access to Ledger’s internal systems, the hacker planted malicious software within the Ledger Connect Kit. > SOURCE: [DLnews, December 14th, 2023](https://www.dlnews.com/articles/defi/a-ledger-employee-got-phished-defi-users-lost-thousands/) 6: Ledger's been hacked multiple times, and yet... > "The bombshell here is the explicit confirmation that Ledger themselves hold the master decryption key for all Ledger Recover users." > SOURCE: [@sethforprivacy](https://twitter.com/sethforprivacy/status/1671532787294191618) ...what could possibly go wrong, eh? Yikes. 7: Ledger Live tracks everything you do and the coins you have: > "Ledger Live is phoning out data on assets you hold in your hardware wallet the moment you access Ledger Live. It’s also sending out tons of other information about your computer and device." > The app apparently transmits data to an external endpoint at “https://api.segment.io/v1/t”, identified as an outsourced data collection service. > SOURCE: [BitcoinNews.com](https://bitcoinnews.com/ledger-live-app-accused-of-collecting-user-data/) 8: Ledger lies are even on the boxes for their hardware. > "WE ARE OPEN SOURCE" > SOURCE: [Their own packaging.](https://i.redd.it/dysdk6j9516b1.jpg) The box for Ledger hardware running closed-source firmware says Open Source. That's intentionally misleading if not outright fraud. 9: Ledger refuses to answer questions. They're [deleting questions](https://np.reddit.com/r/ledgerwallet/comments/13itm7u/is_there_a_backdoor_yes_or_no/jkbvys7/) in comments on their sub. They're [shadowbanning](https://np.reddit.com/r/ledgerwallet/comments/144439c/ledger_please_answer_this_question/) the users who ask them. They're [scrubbing their website](https://np.reddit.com/r/ledgerwallet/comments/13z1yew/ledger_updates_academy_articles/) to remove claims they've been making for years. **The worst part is, this is only a partial list!** For example: [Ledger was still promoting FTX after FTX collapsed.](https://np.reddit.com/r/ledgerwallet/comments/z5rxw8/deleted_by_user/ixy5uc0/) I could go on and on. Ledger is inept. Ledger is dirty. Ledger Can't Be Trusted.

johnjonesnewphone

That’s what people said about FTX. I’d rather stick with the biggest one if I had to. If coinbase does the same thing as FTX the market is crashing for a few years

Level_Honeydew_9339

I think he’s referring the fact that your bitcoin can absolutely be seized by the authorities, as what happened to FTX and SBF

jswb

SEC has done more harm to investors than anything. Missed FTX and Terra, heightened scrutiny, and as a result drove all of the legitimate crypto services out of the US.

kirovreported

Sounds like FTX

Friendly_Dork

Do we have any opinions on how this may impact the "fully colaterized tokens" once held by FTX that were apparently backed "1 to 1" with a "real stock"? Here is a video of Brett Harrison, former President of FTX claiming just that: [https://youtu.be/tyxv-2otTLs?si=O7t\_JSHDuEYm8qJD&t=9](https://youtu.be/tyxv-2otTLs?si=O7t_JSHDuEYm8qJD&t=9) Does this mean that Wall St will no longer be able to trade these "collaterized tokens" as a way of claiming they own shares in the stock?

HSuke

> If the feds cared about Proof of Reserves, literally every bank in America would be shut down immediately. Banks are literally licensed and allowed to do that. Crypto exchanges aren't. > FTX wasn't destroyed directly by mishandling user funds You've lost all credibility. Did you not remember anything about Alameda Research and how FTX allowed it free use of its customer's funds?

AshamedFlame

Exactly guys. We should go with Celsius. Oh wait. I mean FTX. Umm wait a minute I mean blockfi. Errr.

pixieshit

If the feds cared about Proof of Reserves, literally every bank in America would be shut down immediately. 😂 FTX wasn't destroyed directly by mishandling user funds (though, they certainly did that). FTX's downfall was sparked by CZ spreading FUD about FTX, leading to an FTX bank run. I wonder what would happen if all Binance depositors demanded their crypto back? I'd be surprised if there wasn't a liquidity crisis.

pixieshit

You're naive if you think Binance doesn't fuck with customer funds. They just hide it better, and perhaps it isn't at the same magnitude as FTX. All centralised banks and exchanges have dodgy practices.

swampjester

Tell that to someone who left their money on FTX.

glitter_my_dongle

They don't realize how unsafe and bad the FDIC likely is. All it is is insurance. If FTX is any indication, they will insure at the price during a collapse and that could be peanuts after a recovery so I wouldn't hold too much on a brokerage if any at all. Register your shares of stocks on computershare. That way they can't do the insurance for value and not insurance in shares. That is the flaw with the FDIC and brokerages. I know what they have got planned and it is a reset.

Smooth-Mulberry4715

So many people in power - in the tech industry and politics - were involved in the FTX graft that CZ brought down, that they had to make him bend a knee. Makes me sick. But happy that this is the path to a Binance future in the US. The man is a true leader.

Snorlax46

Well, yeah, since we've been told the FDIC will make you whole if something happens with the money, so it's a good idea. But crypto doesn't have that, so the bank can still lose your money. Look at Mt. GOX, Celsius, FTX, BTC-E all were top 5 exchanges, some were #1 exchanges when they lost all customer funds to inside hacking jobs. I've never had a personal computer hacked, maybe some adware, but that's it. So that's my logic for self custody. Old thinkpad with Bitcoin Core that doesn't have anything else on it and doesn't get used for anything else but weekly software updates.

shanatard

binance in general was always one of the best user first exchanges. i'm so glad the SEC is protecting me from them and forcing me to use exchanges like FTX

Amber_Sam

Many companies but BlockFi, Celsius & FTX have the best rates on the market.

tenor_tymir

FTX

Any_Credit8271

Icp is ahead of everything, only haters will hate cuz of price manipulation by FTX on launch.

CointestMod

#DEX Pro-Arguments Below is a DEX pro-argument written by excalilbug. > The biggest advantage of Decentralized Exchanges is already mentioned in the name – they are **decentralized**. What does it exactly mean? If an exchange is truly decentralized it: > > ​ > > * Does not store your assets or personal data = it is **private** and people control their funds. You yourself are responsible for your finances > * There is no one individual or small group of individuals who have full control of the exchange and there is no one point of failure = just like in (healthy) democracy everyone has a say in every decision and the **exchange can't be shut down so easily** (because its "servers" are spread around the world) > * There is **free access** = you don't have to go through KYC, so not only it is more private than centralized exchanges but also no one can stop you from accessing the exchange from anywhere you live. No KYC also keeps you **save from personal data leaks**. If CEX is hacked, your personal data might be leaked. And since you upload your ID there together with a lot of personal data such leaks are very dangerous > * There are **no middlemen** = all transactions are made directly between buyers and sellers > > ​ > > The last point gives decentralized crypto exchanges a big advantage because – let's be honest – what people care most about is not decentralization or privacy – it is money. By removing the middleman DEXes can take much **lower fees**. DEXes can also save money on customer support, lawyer teams, marketing and many other things. That is why using DEXes is usually cheaper. Of course it all depends on liquidity of assets. But with time – as DEXes become easier to use and more popular (hopefully) – the liquidity will stop being a problem for most assets > > And it is hard to overstate the other important aspect of decentralized exchanges – **TRANSPARENCY**. > > Centralized Exchanges - especially the big ones – can manipulate the market. For example today most trades take place on Binance. This is very, very bad. Because if Binance isn't transparent (and it isn't) it can easily manipulate the market when it generates as much as 70% of total volume (n the case of Bitcoin Binance exchange is responsible for 98% of all spot trading volume - [https://cryptoslate.com/binance-takes-over-98-of-all-bitcoin-spot-trading-volume/](https://cryptoslate.com/binance-takes-over-98-of-all-bitcoin-spot-trading-volume/) \- whenever I'm reminded of Binance dominance I just wish it was Binance that collapsed instead of FTX. The market would crash much harder but in long term it could be very positive – see: Mt Gox). > > In the case of DEXes everyone is equal. Everyone can see all the trades that were made. Everyone can see market orders. **Everyone has the same data available**. CEXes can give only part of that data or even hide much of it. Then they can use it to their advantage (market manipulation, inside trading). > > Another important thing we need to remember is that Decentralized Exchanges are still a new concept. This might of course mean that it will all go to trash. But I prefer to think positively – I believe that there are many incredible **innovations awaiting us** and the concept of DEX and Decentralized Finance (DeFi) will succeed. I believe there will be many talented developers and visionaries who will come up with wonderful ideas and more and more people will start using DEXes. Eventually all centralized exchanges (both crypto and traditional) will be finally challenged and there will be more balance in the world of finance… > Let's keep our fingers crossed > > **TL;DR** – no middleman, no KYC, no centralized power who can freeze your assets whenever it wants, privacy, transparency, lower fees, innovative, the more popular, the more secure, can bring more balance to the world of finance, harder to manipulate the market because everyone has access to the same amount of information > > ​ > > Sources: > > [https://cointelegraph.com/defi-101/what-are-decentralized-exchanges-and-how-do-dexs-work](https://cointelegraph.com/defi-101/what-are-decentralized-exchanges-and-how-do-dexs-work) > > [https://www.coinbase.com/pl/learn/crypto-basics/what-is-a-dex](https://www.coinbase.com/pl/learn/crypto-basics/what-is-a-dex) > > And other Cointest arguments (both pro and con) ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find submissions for other topics.

iDr3amEUtwitter

Because the only reason of it's existence is to transfer fiat from dumb money to smart money.. dumb money bought at last time 60ks while smart money sold. Dumb money sold after FTX crash while smart money bought. And the same happens every day on intra day moves due to the high leverage of the crypto market. That's the reason it exists. Transfer of wealth. To make profits in Fiat. but few understand this

Ziplock13

I have a hard time believing this is about trades using their crypto portfolio as leverage for their margin accounts. I believe this is about "Tokenized Stocks" (think FTX's GME claimed 1:1 token) that are speculated as being used to cover a short position as the token was claimed to serve as a "locate." Go to r/GME they have a whole write up on it..

conceiv3d-in-lib3rty

The US Government. Tether is the issuer of the biggest stablecoin in crypto by a large margin, USDT, with a $110B market cap. Tether has a long history of shady dealings (their whole existence and is how they got as big as they did), from artificially propping up the price of Bitcoin and was the reason it reached $17k in 2017, to funding the FTX ponzi, but this is the straw that broke the camel’s back and something the US can’t ignore. https://archive.is/9AEb5 They need to tread lightly as this situation is delicate because of the fact that Tether owns billions in US treasuries. But if they are in fact going for a takedown for Tether in the US, the price of Bitcoin, and the entire crypto market, is going to plummet. How low is anybody’s guess, but Tether and stablecoins is how crypto tip toes around regulation and plays a HUGE part in its ecosystem. So if it does happen, it’s going to be bloody.

willzyx01

>your money is absolutely not safer in a bank This is such a brain dead take, it hurts. Bank accounts are FDIC insured. Your money *IS* safe in a bank. It’s literally the safest place. SVB collapsed. Guess what happened. Every deposit was made whole within 7 days. FTX collapsed. Guess what happened. Everyone got fucked. You can support crypto, but you have to realize that banks are safe. And yes, banks are safer than crypto. Nobody will drain your bank account in 35 seconds if you accidentally sign a fraudulent contract.

Adius_Omega

FTX marketing was so ridiculously well done that I struggle deeply that something so convincing in safety was in fact a complete and utter scam. These companies securing celebrity endorsements to promote is a massive red flag to me. My trust has been basically completely gutted.

waxedsack

Bold move being the public face of any crypto company after FTX and all the law suits. You’d want to be getting a fat bag of filthy fiat for it

CommunicationKey2156

FTX was on a stadium and you saw what happened

YoungBassGasm

I've got the next big thing to recommend to you. Ever heard of FTX or Celsius? Well....

bandaid3000

But people/companies own those nodes and there’s always risk of the operators of nodes to fail FTX-style, right?

s7aq_sa7s

......Because it may seem like a scam to you doesn't mean it's so obvious to everyone else. I understand people should do more research before investing but shaming people or putting them down for asking questions is not the way to go about helping people or helping the crypto space grow... Please think about what you are saying or how you make people feel because some might take it very hard and it doesn't make this world a nicer place to live. To OP: if it sounds to good to be true, it just may be. I'm not familiar with this site but some searches online will probably give you the information on specific sites your looking for. If you can't find any information or reviews on the site, I would be extremely leery and try to find a site with people who have had success from said sites and have not been scammed. Also not putting all of your eggs, or a decent amount anyhow, in one unknown basket your first time transacting with a site also might be a good idea. That being said there is always the chance that even an established site can run some type of exit scam, ie FTX, Mt. GOX etc. GL and keep asking questions, knowledge is power friend!!

Hot_Significance_256

I would never go near anything like this. Taylor Swift almost FTX'd herself. Wise move Taylor.

tbkrida

It does. But in the last few years the word “crypto” has become synonymous with all of the copycat scam versions of Bitcoin and companies like FTX, Celsius etc. Just saying Bitcoin instead of crypto is a way to distinguish ourselves from all of that mess. Once you come to understand Bitcoin you realize that it’s the soundest form of money and has no competition from other “cryptos”.

MikeSteinDesign

There's 2 parts to your question. One is the reason why Bitcoin was made in the first place, i.e. benefit of Bitcoin vs fiat, 2nd is about trusting the exchange you buy from. If NOTHING else, the FTX scam and fall should be enough to answer your question. If you own the keys to your wallet (even a software hot wallet), you don't need to trust the exchange actually can cover their debt to you. The exchange is just the on ramp to allow you to buy Bitcoin, but taking it off the exchange forces them to prove that they actually bought it and give it to you to control. Same as withdrawing money from the bank. FTX said they bought Bitcoin with their customers funds and lied. There's no reason to fully trust any other exchange would not do that in the future, regardless of how well regulated and audited they say they are. Kinda the same thing with banks except the government bails them out by printing more cash when they can't pay. FTX was one of the most popular exchanges before being exposed, so while Coinbase or Binance or Kraken might still have good reputations, it's up to their leadership to consistently decide not to just lie about buying Bitcoin. You as a user have no way of knowing that they actually bought it until you withdrawal it to your own wallet.

CointestMod

#Crypto.com(CRO) Con-Arguments Below is a Crypto.com(CRO) con-argument written by a deleted user. > Crypto dot com (aka **CDC**) is a multi-purpose crypto platform known for its extravagant marketing campaigns such as purchasing its namesake domain name and the naming rights for the former Staples Center. It also has an exchange that's still not available in the US (though finally open for waitlist). > > I was their customer for 1.5 years, but left a month ago. It's frustrating seeing how much they spend on marketing and influencers instead of improving their platform. > > ## CONs > > - **Better competitors**: CDC's has many competitors with more features, lower fees, or better and easier-to-navigate websites/apps. CDC's platform tries to do many things, but it does everything subpar. The only thing that makes it really stand out is their debit card, which offers higher APY benefits for CRO and its earning platform if you stake large amounts of CRO. Though given how they've been slashing rewards across the platform, we don't know how long they can maintain their popularity through those rates. I've always suspected that these are promo rates that are only being maintained through their higher fees being charged everywhere else on their platform. (May 1st edit - CDC completely slashed their rewards for their cards: https://crypto.com/product-news/crypto-com-visa-cards-update. Except for the 2 highest and most risky tiers of staking, there's no point to using this card anymore. They've destroyed the best part of their platform.) > - **Focuses on marketing, not product** - CDC relied on marketing strategies that were designed to attract as many customers to their platform. Many basic features have been neglected. ACH transfers (specifically pulls) from banks did not exist until recently. Nearly all of its CeFi competitors (Gemini, BlockFi, Celsius, Nexo) have a desktop app for their main platform. CDC's platform is mobile-only and has been for years. I suppose its Exchange has a desktop site, but that isn't available in the US, and most of CDC's features are not related to its exchange. Instead, they focused on buying up tons of advertising (Stapes Center, Matt Damon's "Fortune Favors the Brave" campaign, LeBron James campaign) when they could've improved their products. > - **No US exchange**: Every couple of months, CDC's owners state that the US platform is coming in 1-2 months. I've been waiting since the start of 2021. They dropped multiple hints of a summer 2021 release, later delayed to Q4 2021. Now it's finally been released, but there's a waitlist for institutional investors, and we don't know if it'll be ready before the end of the year for the rest of us. > - **Massive spread and fees**: Those fortunate (or unfortunate) enough to have access to the exchange end up paying massive spread and fees compared to its competitors. It'll depend on what you buy, but the fees/spread are often 5x larger than those of Binance. It's not uncommon for fees to end up costing 3-5% of the transaction. > - **Lack of app security** - There is no password protection or 2 factor authentication for login on the mobile app. When you sign in, it sends your email address a link to use, making email the single point of failure. It was only after the Jan 18th hack that 2-factor was forced on, and even then it is only used for withdrawals and for bank-related settings changes--not for login. They need to take security more seriously. > - **Poor handling of the Jan 18 hack** - 400 accounts were hacked [by bypassing 2FA on Jan 18, with $33M stolen](https://cryptobriefing.com/days-after-alleged-33m-hack-crypto-com-still-silent/). Even worse, CDC forcefully-disabled 2FA on all accounts without warning. Barely any customers received emails about CDC crippling their 2FA. People only found out through social media or logging into their apps. They do have ISO IEC 27701 certification, but that's for privacy, and it's a joke to market it as security certification. > - **Poor handling of MCO swap** - Before CRO, CDC used a different ICO token to fund their platform called MCO. They cannibalized MCO to fund CRO, forcing everyone to swap to CRO at a fixed rate without adequate warning. > - **Too many large US banks block CDC**: My banks and credit cards work perfectly fine with Coinbase, Gemini, BlockFi, Binance US, Kraken, and FTX US. The only one they block is CDC. I don't know why so many large banks block it, but I suspect it was due to too many reports of shady activity or upset customers. The only way around this for many banks is to perform an ACH push from the bank side. Using CDC was the first time in 20 years I had to do an ACH push. > - **High withdrawal minimums** - Many of CDC's popular coins require a [minimum withdrawal of $25-50](https://crypto.com/exchange/document/fees-limits), and they still charge you a large withdrawal fee. Most ERC20 withdrawals are $25, and the BTC withdrawal is currently $20. Minimum withdrawal for fiat is $100. You're going to see high withdrawals unless you use their congested Cronos network or BEP20. > - **Cronos network often congested** - Since launch, their Cronos network has often been congested. It can take anywhere from a couple minutes to a full day to transfer any token. That's exceptionally bad for a mostly-centralized network that's modeled similarly to Binance Smart Chain. There was massive congestion in early April 2022 due to some coin launches. If they're getting congestion this early on, they're not going to be able to handle anywhere near BSC-levels of network activity. > - **Larger rewards require staking and locking CRO for 180 days** - Too many rewards require staking CRO for 180 days, during which it is completely locked. Many users bought CRO above $0.90 and couldn't sell when it halved in value. This is a huge risk. > - **Loot boxes** - CDC has gamified their platform and introduced loot/gacha boxes that provide trivial rewards for completing small tasks or making purchases. The rewards are embarrassingly small (nickle to dime values), and they're eclipsed by the higher fees paid to reach those rewards. You're better off using a cheaper platform for trades. > - **Cultish social media community** - Fortunately, this is no longer a big issue now that CRO has fallen 60% from its all-time high price. CRO investors who joined late 2021 have now had time to experience the massive flaws of CDC's platform and woken up from their drunken stupor. But rewinding to around the time CDC bought the naming rights to the former Staples Arena, CRO went viral and shot up 5x. For the next 6 months, their community went from slightly cultish to absolutely and unbearably irrational (similar to the Loopring and SafeMoon communities). There are still many CRO shills and way too many pictures of people's debit cards, but the community is much more balanced now. ***** Would you like to learn more? Check out the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_crypto.com.28cro.29) to find submissions for other topics.

coinfeeds-bot

tldr; Eminem has replaced Matt Damon as the new face of a Crypto.com advertisement. The ad, featuring Eminem stepping up to the mic, is set to premiere during the Los Angeles Lakers NBA Playoff game at the Crypto.com Arena. This marks a notable return of high-profile celebrities endorsing cryptocurrency following a decline after the FTX collapse. The ad will also be featured at other major sporting events, including the Formula 1 Miami Grand Prix and a UFC event. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

Tlux0

Your source on the illegal uses is? Most trades are definitely investment related. Bitcoin is literally the stupidest way to pay for something illegal. Perhaps it made sense years ago when law enforcement weren’t wiser. Now? No. Bitcoin having zero protection is literally the whole point. Your responsibility, your freedom, your loss. If you don’t get that, that’s your problem. FTX isn’t Bitcoin or a decentralized exchange. It’s a shady criminal syndicate centralized exchange that has nothing to do with Bitcoin. Although it’s true it probably contributed to the price going up last cycle. Your talking points have minimal applicability tbqh.

mrpoops

Most trades are investment related by sheer volume. Most actual purchases or transactions between two humans are for illegal shit. Kiddy porn, drugs, transferring money out of Russia, cryptolocker payments, etc. Investing in bitcoin has zero regulation. Show me some regulations that protect someone trading bitcoin from common investment scams. There is no protection from things like fraudulent reporting (cough…FTX…). A stock investor is protected from that. There are no insider trading regulations for cryptocurrencies, there are no market manipulation regulations, fucking nothing. Quantum safe cryptography won’t save bitcoin, its crypto algorithms are set in stone. The day it’s cracked it’s done.

Kallen501

FTX had KYC. QuadrigaCX had KYC. MtGox had KYC. Cryptopia had KYC. Notice the trend here?

one_way_ticketz

FDIC insurance makes it a lot easier to recoup money if a bank fails compared to the fiasco that we've seen for Mt Gox, FTX, and others.

KiritimatiSwan

Oh shit, my bad dude. I actually like regulation. Sorry :/ but if you like the kind of market action that you get from *checks notes* the collapses of Vircurex, MtGox, Coin.mx, Crypsty, Einstein, Youbut, Bitgrail, QuadrigaCX, BTC-e, Bitgrail, *turns page* Cryptopia (Fuck me…), FTX, Blockfi, Celsius, then no wonder you think I have no bearing on what’s going on. Ffs. I also like to pay taxes. We are not the same.

AmbitiousAd9320

nah, fam... its all FTX all the way! pinky promise THIS time!

satoshisystems

What does clawback in regards of FTX mean?

Huskan543

Yeah, as with any centralised entity, except if there’s a clawback such as with FTX… hence use at your own risk…

_Adrian_Morris_

See this? This is called conversation, I can work with this. Now to your point: "He does say his model shouldn't be used to try to predict the price in the long term. He also says a "break" in the power law may be caused by an unpredictable event..." If I could attach screenshots I would, he made this claim to me directly and on a spaces on Xwitter. Parts 1 and 2 of my articles had links to all of his posts making this and other claims, he started deleting them. Just like you I have experimented with Bitcoin price data, for years now actually. I mentioned that briefly in the article and gave resources for people to be able and go out and test this theory themselves. First: I'm not saying the conclusions from data would be wrong out of hand, I'm saying that the conclusions he attempts to validate based on that data is wrong. The data is secondary to the framework you are operating out of. If he's operating off of a false premise re: Bitcoin \[which he is\] and he has also contradicted himself over and over again with me directly and with others \[which he has\] this entire theory of HIS and how HE applies it HIS understanding of Keplers 3rd Law, Time Series, Power Laws, etc and how he applies them to his theory is in question. NOT how they can or could or would be applied. Giovanni is the one making these grandiose claims and I am showing the inconsistencies in his claims. Second: the application of Power Laws to financial time series data is troubling and full of issues. The application of processes and rationales from other disciplines are not some universal corrolaroy, there will be nuance. But based on my conversations with him and the other conversations I have seen, this dude is intellectually dishonest, at best. Look, take theory out of it for a second, everyone is entitled to their opinion, but when you start going on YouTube with influencers, pushing Patreon groups, getting connected with Unchained Capital and spread this untested unvetted theory of yours to many new high net worth individuals I cannot call you anything but a smart guy that's looking for a cash grab. The Bitcoin space has survived BlockFi, FTX, Mt Fox, 3ac, Celcius, The China Mining Ban, I can go on. We need to root out bad actors. If he's right, time will tell, until then attacking anyone that challenges your assertions only casts more doubt on what you are saying. With that, I am good. I got the conversation going again and that's all I wanted. Everyone can feel free to attack me and accuse me of projection or semantics, it is what it is.

Existing_Chemist2075

Sorry to hear about your investment. I was down on mine around 7x when FTX happened and I ve waited more than one year after that just to break even and get a some small profit!

sandworm87

Taking over from LUNA and FTX in the previous bull run, this season's big bad is Grayscale, crashing the market with no survivors at 9am every weekday morning. https://dune.com/hildobby/btc-etfs

Amber_Sam

>Can anyone explain why Research what happened to FTX, Quadriga, mtgox... >and how to transfer what I have Visit r/BitcoinBeginners, look for step by step guide. >to what you would consider a safer option? Make sure the wallet is open source and Bitcoin only. Being air gapped and hardware wallet gives you even more points.

Haunting-Student-756

TF does this even mean? Celsius? BlockFI? FTX Earn? Are you a 🧌 or just a regular slow 🦥 bro?

irisuniverse

They don’t loan out your coins and at least for Swan I know that your coins are held in a legal trust account in your name, whereas FTX and most exchanges you just have an IOU.

bbiittccooiinn

No. Don't give up your Bitcoin chasing crappy digit yield with those "earn interest" companies. There are a lot of shills churning referral bonuses or these companies using bots to farm new customers. It's like picking up pennies under a steamroller. The highly likely ending is where you'll be next in line during a lengthy bankruptcy process and receive cents in the dollar back. If the below companies didn't exist, BTC would have reached over $100K last cycle. Instead all these companies did was suppress real price discovery by converting Bitcoin people transferred to them to shitcoins in order to generate the yield to pay you, before pulling the rug right under their clients. Don't think this couldn't happen again. Who will be next? Nexo? Buy Bitcoin and withdraw to your cold wallet. Don't keep it on an exchange either. - 2021 - ACX - 2021 - Mycryptowallet - 2021 - Cobinhood - 2021 - Bitgrail - 2021 - Coindelta - 2021 - EXX - 2021 - VCC Exchange - 2021 - WEX - 2021 - COSS - 2021 - Bithumb - 2021 - BTCEXA - 2021 - Liquid - 2021 - Nova Exchange - 2022 - Three Arrows Capital (3AC) - 2022 - Alamada Research - 2022 - BlockFi - 2022 - Babel Finance - 2022 - CoinFlex - 2022 - Celsius - 2022 - Zipmex - 2022 - FTX - 2022 - Freeway - 2022 - Hodlnaut - 2022 - Ikigai - 2022 - Vauld - 2022 - Voyager - 2022 - West Realm Shires Services - 2022 - Genesis - 2022 - Myconstant - 2022 - Digital Surge - 2022 - Mine Digital - 2022 - Atom Asset Exchange (AAX) - 2022 - Midas Investments - 2023 - Liquid Global - 2023 - The Rock Trading - 2023 - Silvergate - 2023 - Silicon Valley Bank - 2023 - CoinLoan - 2023 - BKEX - 2023 - Patricia - 2024 - who's next?

WeakLab4828

FTX can gamble with your money.

SpicyMealOutside

What makes Swam and River different from FTX?

daarhi

Although CB is not immune to a downfall but they are one of the OGs and a publicly traded company, thus should not be compared with the likes of FTX.

Adius_Omega

Getting FTX flashbacks with all of these pushes for ads....

AmbitiousAd9320

im big on FTX and BBBY