Thread by @criptopaul

Some thoughts about #FTX #Solana #Alameda #CZ situation.

CZ will inevitably be the white knight to save FTX, enough compromised with his recent statement , FTX too big to not be acquired on favorable terms, Alameda too fragile to not accept.

This will be inevitable..

If this Should it not happen, Binance will have all of hate against him, and furthermore, the consequences will be devastating for entire industry.

That's why it will be inevitable.

https://twitter.com/cz_binance/status/1590013613586411520

Every economic crisis causes these kinds of events, for the simple fact that markets are inhabited by gamblers, greedy people. When we see price collapses, those who looked like geniuses and rich people find themselves in debt, insolvency, and liquidated positions.

Remember when do kwon was the new god come down to earth for creating #terraluna ecosistem with 20% APY on stablecoin. But then collapsed..

Or when VCs who rode bull markets with crazy insiders and cheap deals were fucking rich but then insolvent in 2022..

Small parenthesis, @cryptocom , continues to prove to be the most healthy ecosystem and I remember the fud when it was cutting cards reawards on early 2022, but it had proven very wise to now. Do kwon from genius , to crook, but people should recognize @kris as a skilled CEO imo

FTX has proven to be so fragile, events caused by greed and gambler spirit caused this, nothing different from what we saw on 2008 bubble from the men in suits..

Will it affect entire crypto ecosystem? Definitely, but things that happen every 10 years in CeFi space.

Just that, crypto space professed to build a better and different world from banks.... It was a utopia, but the technology remains.

That's why I remain a #Bitcoin maximalist.
This utopia was born from there and is there to stay again and again.

Of course like any company , business, that close to bankruptcy for various causes, there is a liquidation event to cover losses.

Here a good div from @ScopeProtocol

https://twitter.com/scopeprotocol/status/1590318541772709890

Remember that For a Cex , crypto assets are just commodities in storage, and will be used for that, they sell a service and make money on buy and sell, while users buy and hold and they are the only true believers.

In this whole story there will be no winners or losers, the only losers will be the users affected by the losses.

@AlamedaTrabucco will be not a loser and @cz_binance will not be a winner. Stop.

Don't idolize CZ, he was eating on the same plate with alameda when he invested in FTX.

In any case, as history teaches, these events are as painful as they lead to ecosystem evolutions. Everything will recover but it will take time. FTX will be saved imo.