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The protagonist is the "mop head" SBF in the cryptocurrency circle, known as mop head because he does have a mop head, and SBF is the abbreviation for his full name Sam Bankman-Fried.
This guy is a celebrity in the cryptocurrency circle. In 2017, he resigned from the famous hedge fund Jane Street, went all in in the cryptocurrency world, initially engaging in arbitrage trading between bitcoin markets in the USA and Japan, and later founded the quantitative cryptocurrency fund Alameda Research, primarily engaged in cryptocurrency market making using quantitative data and early-stage cryptocurrency asset venture capital.
In addition to FTX itself raising funds, FTX US, which provides services to American investors under its umbrella, also announced in January 2022 a Series A financing round with a valuation of $8 billion valuation, completing a $0.4 billion financing round. This round of financing was participated by institutions such as Paradigm, SoftBank Vision Fund 2, and Temasek.
Therefore, by the age of 30, SBF holds $17 billion in assets, topping the Forbes list, along with ethereum founder Vitalik, Binance founder Zhao Changpeng CZ, and TRON founder Justin Sun, known as the four kings of the cryptocurrency circle.
FTT is the token of FTX, Alameda is the market maker of FTX, enjoying discounted trading fees, earning more referral commissions, and the money earned is used to continue repurchasing FTT, which is equivalent to a public company using its own dividends to continuously buy back stocks.
The CEO of the veteran exchange Binance, Zhao Changpeng CZ, suddenly posted a tweet stating that Binance has re-evaluated the FTT it holds, deciding to clear out the 0.5 billion US dollars of FTT held. This tweet is quite intriguing. As a market maker, if you intend to sell off on a large scale, and then you go on Weibo with an official account saying: I am a market manipulator, I am going to sell! In fact, everyone knows that market manipulators are most afraid of being targeted. If other market manipulators and retail investors know your strategic intentions and act preemptively, can you still escape?
Unless you want to shake the market...
With this statement, the secondary market became afraid, damn, are they going to shake the market? Quickly run...
As a result, there was a panic sell-off of FTT, with everyone scrambling to escape...
Therefore, FTT's price dropped from $22 to $3, triggering a herd effect that was unstoppable. Customers in the FTX exchange began to withdraw massively, not only FTT, but some even withdrew BTC, ETH, and others, causing a collapse in BTC and ETH for a while.
Since then, FTX has been unable to support the accumulated debts caused by left and right hand movements and leveraged positions.
Things are unpredictable, let's see how the situation develops.
This guy is a celebrity in the cryptocurrency circle. In 2017, he resigned from the famous hedge fund Jane Street, went all in in the cryptocurrency world, initially engaging in arbitrage trading between bitcoin markets in the USA and Japan, and later founded the quantitative cryptocurrency fund Alameda Research, primarily engaged in cryptocurrency market making using quantitative data and early-stage cryptocurrency asset venture capital.
In addition to FTX itself raising funds, FTX US, which provides services to American investors under its umbrella, also announced in January 2022 a Series A financing round with a valuation of $8 billion valuation, completing a $0.4 billion financing round. This round of financing was participated by institutions such as Paradigm, SoftBank Vision Fund 2, and Temasek.
Therefore, by the age of 30, SBF holds $17 billion in assets, topping the Forbes list, along with ethereum founder Vitalik, Binance founder Zhao Changpeng CZ, and TRON founder Justin Sun, known as the four kings of the cryptocurrency circle.
FTT is the token of FTX, Alameda is the market maker of FTX, enjoying discounted trading fees, earning more referral commissions, and the money earned is used to continue repurchasing FTT, which is equivalent to a public company using its own dividends to continuously buy back stocks.
The CEO of the veteran exchange Binance, Zhao Changpeng CZ, suddenly posted a tweet stating that Binance has re-evaluated the FTT it holds, deciding to clear out the 0.5 billion US dollars of FTT held. This tweet is quite intriguing. As a market maker, if you intend to sell off on a large scale, and then you go on Weibo with an official account saying: I am a market manipulator, I am going to sell! In fact, everyone knows that market manipulators are most afraid of being targeted. If other market manipulators and retail investors know your strategic intentions and act preemptively, can you still escape?
Unless you want to shake the market...
With this statement, the secondary market became afraid, damn, are they going to shake the market? Quickly run...
As a result, there was a panic sell-off of FTT, with everyone scrambling to escape...
Therefore, FTT's price dropped from $22 to $3, triggering a herd effect that was unstoppable. Customers in the FTX exchange began to withdraw massively, not only FTT, but some even withdrew BTC, ETH, and others, causing a collapse in BTC and ETH for a while.
Since then, FTX has been unable to support the accumulated debts caused by left and right hand movements and leveraged positions.
Things are unpredictable, let's see how the situation develops.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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os and : There are too many unstable factors, and maybe this result is completely unexpected to him.
102970152 : Taima Fine
know well OP 102970152 : What do you think?