Sam basically went with the "money glitch method"
If you don't understand what sam did then here you go 👇
#CZBinance #FTT #FTXCRASH
If you don't understand what sam did then here you go 👇
#CZBinance #FTT #FTXCRASH
FTX created $FTT inflated its value.
Transferred that money to their sister company @AlamedaResearch where they can show a profit on their balance sheet
Then proceeds to borrow other assets like btc, eth etc.
Transferred that money to their sister company @AlamedaResearch where they can show a profit on their balance sheet
Then proceeds to borrow other assets like btc, eth etc.
After borrowing all these assets they can send all of these assets back to FTX
By doing this you can literally create and print as much money as you want.
This is why $FTT has such a big effect on the @FTX_Official
By doing this you can literally create and print as much money as you want.
This is why $FTT has such a big effect on the @FTX_Official
With all the selling pressure that came around over the last few days. They were forced to liquid their assets to pay investors
My hot take: I'm still a bit confused why such a big company like FTX worth $32b collapsed overnight because @cz_binance threaten to sell $600m worth of assets
With this in mind we can conclude FTX was never really worth $32b then
With this in mind we can conclude FTX was never really worth $32b then
I personally don't think Cz did this on purpose. I mean When bitcoin crushes we all get hurt so why would he want to hurt finance as well
Anyways this is my theory. if you enjoy breakdowns like this then follow @cyrilXBT for more in the future.
Appreciate yall
Appreciate yall
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