4 ms·

Translation: CZ (Binance CEO) has had enough time to liquidate volatile assets and set up shorts.

by zeven7 4y ago

mamonster 4y ago
Why is this being downvoted, shorting the book of an entity you are supposed to be bailing out / in talks with has multiple historical precedents. Amaranth and JPM off the top of my head for the last time it happened.
unmole 4y ago
Which counterparty would be willing to take the other side of that trade?
- yborg 4y ago
  This is crypto, there are plenty of retail 'to the moon' speculators that would be thrilled at the prospect of more sick gains. It's tulips all the way down.
  - unmole 4y ago
    FTT has thin liquidity and was already under significant selling pressure. It's highly unlikely Binance would have been able to build up a significant short position.
firekvz 4y ago
Noone taking the other side of that short. Is entirely fallacy/fantasy when people talks about shorting on crypto market. You can't win shorting actual crashes in unregulated markets, the only way u win shorting in crypto is that you were lucky to guess what a whale/org was doing at the same time so pretty much a russian roulette Marketmakers are not legit and all the movements are pretty much fabricated, its just not regulated and its obvious
- mamonster 4y ago
  Is it any better if he is able to liquidate longs based on the balance sheet that he would not have liquidated had he not seen the balance sheet?
  - firekvz 4y ago
    we are all ignorants about the reality here, so we are all guessing but when you have to guess stuff about the crypto market, you literally have to think the worst things or the best things and you will be right my guess here is simple, CZ has liquidated everything that can be liquidated that doesnt make him look bad, hes deep in the very same business than FTX/Sam was, he doesnt need to look the balance sheet, chances are his balance sheets are similar or worse haha So he probally liquidated longs if any, he probally did OTCs with other tokens/assets and just kept the FTT as a PR move to pretend he was a nice guy, anyways having an amount of $ "lost" by a token that was never worth anything is still 0 lost, he most likely got those tokens in exchange for other tokens worth nothing, or during ICOs stage so pretty much hes not losing any cash even tho you will read people saying how much he lost, remember all of that is nominal value, not real cash value at the end, the very same reason things are falling now.
- adrr 4y ago
  If you have enough capital couldn’t you weather the artificial movements to be able to capture the natural downward movement. VTT is going to zero if VTX liquidated in bankruptcy.
- matheusmoreira 4y ago
  > Noone taking the other side of that short. > Is entirely fallacy/fantasy when people talks about shorting on crypto market. What do you mean by this? I shorted FTT the second I saw the tweet, and then I shorted the entire cryptocurrency market. I successfully made money, so how could it be a fantasy?
  - firekvz 4y ago
    You are right, but we are talking about binance shorting big amounts of tokens, not you shorting some amount in their own game Tell me who at the same level of insider info, gonna OTC borrow you millions of FTT for you to short, when most likely that person/entity owning millions of FTT is already trying to protect their value? You have to remember that when you short and you bet for price going down, the other side is betting for price going up or at least for the price to stay at the same levels, the person borrowing you has to be constantly doing DD to be sure that its the right moment to borrow the asset, and its pretty obvious that someone holding big amounts of FTT was/is very aware of whats comming if I was an OTC shorter and had millions of FTT and you see Binance CEO comming to you to short, I inmediatly said no and cashed out those FTT instead of shorting, cause clearly at those levels there is certainty of what they are doing.

Translation: CZ (Binance CEO) has had enough time to liquidate volatile assets and set up shorts.

by zeven7 4y ago

Translation: CZ (Binance CEO) has had enough time to liquidate volatile assets and set up shorts.

Why is this being downvoted, shorting the book of an entity you are supposed to be bailing out / in talks with has multiple historical precedents. Amaranth and JPM off the top of my head for the last time it happened.

unmole 4y ago

Which counterparty would be willing to take the other side of that trade?

yborg 4y ago
This is crypto, there are plenty of retail 'to the moon' speculators that would be thrilled at the prospect of more sick gains. It's tulips all the way down.
- unmole 4y ago
  FTT has thin liquidity and was already under significant selling pressure. It's highly unlikely Binance would have been able to build up a significant short position.

firekvz 4y ago

Noone taking the other side of that short. Is entirely fallacy/fantasy when people talks about shorting on crypto market. You can't win shorting actual crashes in unregulated markets, the only way u win shorting in crypto is that you were lucky to guess what a whale/org was doing at the same time so pretty much a russian roulette Marketmakers are not legit and all the movements are pretty much fabricated, its just not regulated and its obvious

mamonster 4y ago
Is it any better if he is able to liquidate longs based on the balance sheet that he would not have liquidated had he not seen the balance sheet?
- firekvz 4y ago
  we are all ignorants about the reality here, so we are all guessing but when you have to guess stuff about the crypto market, you literally have to think the worst things or the best things and you will be right my guess here is simple, CZ has liquidated everything that can be liquidated that doesnt make him look bad, hes deep in the very same business than FTX/Sam was, he doesnt need to look the balance sheet, chances are his balance sheets are similar or worse haha So he probally liquidated longs if any, he probally did OTCs with other tokens/assets and just kept the FTT as a PR move to pretend he was a nice guy, anyways having an amount of $ "lost" by a token that was never worth anything is still 0 lost, he most likely got those tokens in exchange for other tokens worth nothing, or during ICOs stage so pretty much hes not losing any cash even tho you will read people saying how much he lost, remember all of that is nominal value, not real cash value at the end, the very same reason things are falling now.
adrr 4y ago
If you have enough capital couldn’t you weather the artificial movements to be able to capture the natural downward movement. VTT is going to zero if VTX liquidated in bankruptcy.
matheusmoreira 4y ago
> Noone taking the other side of that short. > Is entirely fallacy/fantasy when people talks about shorting on crypto market. What do you mean by this? I shorted FTT the second I saw the tweet, and then I shorted the entire cryptocurrency market. I successfully made money, so how could it be a fantasy?
- firekvz 4y ago
  You are right, but we are talking about binance shorting big amounts of tokens, not you shorting some amount in their own game Tell me who at the same level of insider info, gonna OTC borrow you millions of FTT for you to short, when most likely that person/entity owning millions of FTT is already trying to protect their value? You have to remember that when you short and you bet for price going down, the other side is betting for price going up or at least for the price to stay at the same levels, the person borrowing you has to be constantly doing DD to be sure that its the right moment to borrow the asset, and its pretty obvious that someone holding big amounts of FTT was/is very aware of whats comming if I was an OTC shorter and had millions of FTT and you see Binance CEO comming to you to short, I inmediatly said no and cashed out those FTT instead of shorting, cause clearly at those levels there is certainty of what they are doing.