3 ms·

CZ said it’s dumping all their tokens from Binance… FTX starts to fail… CZ snaps it up for a song

• lordnacho 4y ago
  I heard that as well, but how did FTX put themselves in a position where that can happen? Leveraging up in your own token?
  • v8xi 4y ago
    There was a report that came out a few days ago claiming that Alameda Research (SBFs company) was insolvent / did not have enough cash to cover their FTT liabilities[1]. CZ begins dumping their FTX token to de-risk and that led to them actually being insolvent. [1] https://dirtybubblemedia.substack.com/p/is-alameda-research-insolvent https://dirtybubblemedia.substack.com/p/is-alameda-research-...
  • spaceman_2020 4y ago
    apparently they were playing VC with user deposits. This is why regulations exist.