Crypto trading platform FTX collapses into bankruptcy, dragg
Newsbot @ Tue Nov 15, 2022 3:40 pm
Title: Crypto trading platform FTX collapses into bankruptcy, dragging bitcoin price down with it | CBC News
Category: Business
Posted By: Scape
Date: 2022-11-11 13:53:49
Canadian
Scape @ Tue Nov 15, 2022 3:40 pm
Scape @ Tue Nov 15, 2022 3:53 pm
Scape @ Wed Nov 16, 2022 3:14 pm
FBI Working To Extradite SBF To The US
Scape @ Thu Nov 17, 2022 1:52 pm
Scape @ Thu Nov 17, 2022 5:07 pm
Scape @ Wed Nov 23, 2022 5:33 pm
DrCaleb @ Wed Nov 23, 2022 6:56 pm
![[popcorn]](./images/smilies/popcorn.gif "Eating Popcorn")
The best part was hearing the bankruptcy trustee call what they were doing at FTX a total scam perpetrated by people who didn't know fuck all about business or banking, and realizing all the institutional investors who didn't see it happening were therefore just in it for the greed.
Imagine if Canadian Tire financed Sports Chek totally by lending it CT money, then borrowing against the inflated value of Sports Chek to fund ongoing CT operations.
That was FTX.
Scape @ Wed Nov 23, 2022 7:19 pm
Ikr? It's a blatant shell game and only regulation and MASSIVE collapse will force the reforms required to clean this sector up. Till then you might as well give money strait to terrorists and cut out the middle man if you use any crypto.
Thanos @ Wed Nov 23, 2022 7:20 pm
Have to wonder if PeePee Poilievre had FTX on the list of potential government advisors for when, if the Tories ever get elected again, it comes time to shift over a large percentage of the Canadian treasury to crypto. Ah well, here's hoping the good guys with the impressive portfolio over at DogeCoin turn out to be more reliable.
DrCaleb @ Wed Nov 23, 2022 8:47 pm
I think Pollievre likes Crypto so much because of the way they value, or rather overvalue, each token.
They take the price the last one sold at, and multiply by the number of tokens out there. Totally overvaluing it, because no one would ever pay that much for all the tokens.
JaredMilne @ Wed Nov 23, 2022 10:38 pm
Crypto is revealed to be a giant Ponzi scheme run by glorified pseudo-alpha males who couldn't manage a lemonade stand if their lives depended on it.
In other news, water is wet.
DrCaleb @ Thu Nov 24, 2022 7:00 am
Conservative MP's bill to encourage growth in cryptocurrency sector defeated
DrCaleb @ Mon Nov 28, 2022 1:28 pm
Crypto lender BlockFi files for bankruptcy protection, caught in FTX fallout
raydan @ Mon Nov 28, 2022 1:40 pm
Like I didn't see that coming. There will probably be some investors filing for bankruptcy too.