Unless somehow stocks rally first, crypto unlikely to lead.

Hindsight 20/20
I've seen posts warning about Hex, Luna, Celcius but literally never see anybody in this forum predict FTX/FTT collapse

2 or maybe 3 exchange will go naked in these few days. There's nothing to be shame of going naked if your body is in shape though lol

We might see the market go down further should other exchange get caught on the same position of ftx

SBF Apology
https://twitter.com/SBF_FTX/status/15907091...Xdo8NfZO8g&s=19

Binance reserves half of its holdings is own token btw. FYI.

If Binance gone we no more crypto industry for the next 10 years lol.

Also CZ not overleveraged so probably just devaluation of Bnb and major alts. Still not looking good though.

Anyway with ftx collapse we have a glimpse of all big cex reserved. And the amount of usdt they hold as reserved / collateral is alarming.

Just imagine if usdt is found to be less back that it potray, just a 10 - 15% depeg/haircut will send the whole industry into a crypto nuclear winter.

So just be careful if you are investing/trading with money you cannot lose.

Tether is a little bit different is that redemption or a run on the bank won’t kill them. After many round of attack im sure of that.

Of 100% tether printed, my estimate is around 70% is now grade-A treasuries bills or other high grade liquid bond. Perhaps 15% is more questionable debts and another 15% are ponzi coins/bad debt.

So to really kill tether, user, institution, and big crypto bosses all have to focus and do a one shot mass withdrawal that at least drain 80% of their withdrawal for a real depeg to happen. So no dice on creating a bank run there.

I believe tether depeg will only happen when regulator brute force open their reserved to show its not 100% backed by grade-A instruments. But given regulator slow paced, by the time they open tether would have atleast 90% of their backing in quality debt, so ya…… this one probably could get away by fake it till they make it.

Another possibility of collapse is leaked insider info showing their reserved/backing details. But given the small team bitfinex/tether have, i dont think possible on this

Us regulator working like snails. Tether keep dodging and working with ponzi scammers to build up their war chest. Probably started with only 50% reserved, but throughout the years of scamming i would estimate they have atleast 70% is real grade A reserved now.

Maybe ftx US criminal investigation can open their book. Lets see….

Well i think otherwise. But no point to argue, i just wanna see anyway to make money from this.

From what i see real volume will shrink and wash trading will be more rampant as big players in crypto space will collude to keep prices stable.

So to really short it, we need a bad actor from this group to break the act, and creat panic. Waiting, waiting.

If by 1 month nothing major happens, probably can open long position in most crypto especially meme coin again to play a quick upside.

Hmm… seemed like Tether also label “future receivables” as part of their reserved. Their biggest client is ftx. Interesting……

Also Genesis is doing 1bil fund raising, if this fail possibility of dissolving either their gbtc or ethe trust due to its below fair value market price. Also another big hammer to crypto.

Seemed like all bad news for now, can open short position but low volume easy to manipulate pump by whales. Decisions, decisions…

if not many ppl trade on an exchange now

how we can determine the price of a coin?