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The main character is SBF, the “explosive head” of the coin industry. It is known as Bombhead because he is indeed a bomber, and SBF is an acronym for his full name Sam Bankman-Fried.
This dude is a celebrity in the cryptocurrency industry. He resigned from the famous hedge fund Jane Street in 2017. All in the coin industry, initially did arbitrage trading between the Bitcoin markets in the US and Japan, and later founded the quantitative cryptocurrency fund Alameda Research, which is mainly engaged in cryptocurrency market making and venture capital for cryptocurrencies.
In addition to FTX's own financing, FTX US, a subsidiary of the company, which provides services to US investors, also announced in January 2022 that it will complete Series A financing of 400 million US dollars at a valuation of 8 billion US dollars. Institutions such as Paladin, SoftBank Vision Fund Phase II, and Temasek participated in this round of financing.
As a result, by the age of 30, SBF had assets of 17 billion US dollars and was on the Forbes list. Together with Ethereum founder Vitalik, Binance founder Zhao Changpeng CZ, and Wavefield founder Sun Yuchen, JustinSun, the founder of Wave Field, it was named the four kings of the coin industry.
FTT is FTX's token, and Alameda is an FTX market maker. It enjoys fully discounted transaction rates, earns more referral commissions, and the money earned is used to continue to buy back FTT. This is equivalent to the listed company taking its own dividends to continuously buy back stocks.
Zhao Changpeng CZ, CEO of the established exchange Binance, suddenly posted a tweet saying that Binance has re-evaluated its FTT holdings and decided to empty its 500 million US dollar FTT. This tweet is very interesting. As a bookmaker, if you want to ship on a large scale, you go to Weibo and use your official account to say, “I'm a dog store, I want to ship! In fact, everyone knows that the dog house is most afraid of being sniped. If other bookmakers and retail traders know your strategic intentions and rush ahead, can you still run?
Unless you want to smash the plate...
As soon as this remark came out, the secondary market was afraid. Damn it, this is about to break the market, ah, run quickly...
As a result, there was a panic attack in FTT, and everyone took their way and fled...
As a result, the FTT price dropped all the way from $22 to $3, and the flock effect was unstoppable. Customers in the FTX exchange stepped on and fled, not only FTT, but even BTC, ETH, etc., and all withdrew their coins. At one point, this move led to the collapse of BTC and ETH.
Since then, FTX has been unable to support the accumulation of debts previously caused by leaning left and right and leveraging.
The world is difficult to predict, so let's see how it develops in the future.
This dude is a celebrity in the cryptocurrency industry. He resigned from the famous hedge fund Jane Street in 2017. All in the coin industry, initially did arbitrage trading between the Bitcoin markets in the US and Japan, and later founded the quantitative cryptocurrency fund Alameda Research, which is mainly engaged in cryptocurrency market making and venture capital for cryptocurrencies.
In addition to FTX's own financing, FTX US, a subsidiary of the company, which provides services to US investors, also announced in January 2022 that it will complete Series A financing of 400 million US dollars at a valuation of 8 billion US dollars. Institutions such as Paladin, SoftBank Vision Fund Phase II, and Temasek participated in this round of financing.
As a result, by the age of 30, SBF had assets of 17 billion US dollars and was on the Forbes list. Together with Ethereum founder Vitalik, Binance founder Zhao Changpeng CZ, and Wavefield founder Sun Yuchen, JustinSun, the founder of Wave Field, it was named the four kings of the coin industry.
FTT is FTX's token, and Alameda is an FTX market maker. It enjoys fully discounted transaction rates, earns more referral commissions, and the money earned is used to continue to buy back FTT. This is equivalent to the listed company taking its own dividends to continuously buy back stocks.
Zhao Changpeng CZ, CEO of the established exchange Binance, suddenly posted a tweet saying that Binance has re-evaluated its FTT holdings and decided to empty its 500 million US dollar FTT. This tweet is very interesting. As a bookmaker, if you want to ship on a large scale, you go to Weibo and use your official account to say, “I'm a dog store, I want to ship! In fact, everyone knows that the dog house is most afraid of being sniped. If other bookmakers and retail traders know your strategic intentions and rush ahead, can you still run?
Unless you want to smash the plate...
As soon as this remark came out, the secondary market was afraid. Damn it, this is about to break the market, ah, run quickly...
As a result, there was a panic attack in FTT, and everyone took their way and fled...
As a result, the FTT price dropped all the way from $22 to $3, and the flock effect was unstoppable. Customers in the FTX exchange stepped on and fled, not only FTT, but even BTC, ETH, etc., and all withdrew their coins. At one point, this move led to the collapse of BTC and ETH.
Since then, FTX has been unable to support the accumulation of debts previously caused by leaning left and right and leveraging.
The world is difficult to predict, so let's see how it develops in the future.
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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?