WTF FTX?!
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- Опубликовано: 27 сен 2024
- Not long after they started the now-bankrupt FTX, an exchange for trading cryptocurrencies, Sam Bankman-Fried and his co-founders decided to make their own virtual currency à la bitcoin.
"There's no reason, if you're in crypto, not to create tokens," says Hilary Allen, a professor at American University Washington College of Law. "You can create tokens out of thin air."
The FTX Token, or FTT as it is more widely known, debuted in 2019, and a couple of years later, the digital currency was valued at a high of almost $80. Today, there are almost 250 million FTX Tokens in circulation.
Not bad for something that is just data.
Although it was a major moneymaker for FTX and helped keep Bankman-Fried's hedge fund afloat, in the end the FTX Token proved to be the company's undoing.
After an article in CoinDesk earlier this month raised questions about FTX's financials, Changpeng Zhao, the CEO of Binance, decided to offload his company's sizable FTT holdings. That spooked investors, and as word spread, the token's value cratered.
#ftx #crypto #ftt #bitcoin #creatornow
The only thing that shocks me is that they haven't blamed Trump yet.
Another Democrat run scam! I’m sure Sam will be gyrating in his prison seat just like he was w Chuck Todd 😂😂😂 #ftx
Just like the American petro dollar
The crazy thing is you can just publish a coin. The coin wasn't the issue it was the balance sheet that was the problem.
Enron 2 Electric Boogaloo!
Oh, and the guy who ran Enron is now in control of FTX following the CEOs departure. So, don't buy crypto.
Doesn't anyone remember onecoin?
I invested in FTX when am I going to get my money back? NEVER!!!!
That's why its an investment. You don't get money back from bad investments.
Just like the Federal Reserves CBDC. Money cooked out of thin air 🤫🤫🤫😏
And no one will go to jail
Ei😢😢❤😮❤😅😂😅