Bitcoin Forum

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

There was no need for a fight in the first place, this is an industry everyone has been laboring to ensure it gets to as much as many people as possible and with the shortest possible time. I feel all these public tweets should have been discussed in private, this is already causing some dump in the market, players will capitalize on this to play with traders emotion, when bull gonna come, people won't be on guard.

For me, this is not good for the cryptocurrency industry if there will be a loser here. We all know FTX and Binance exchanges are huge and well reputable.
Let's say FTX will be rugged and forced to shutdown, then it will be a loss for the crypto industry, regulators for sure will take this as a lesson and become more strict in regulation cryptocurrency even with how big or good the exchange is.

Yep it can't be good for all of us who are holding since it seem like all other coins are falling. In the last 4 hours everybody is dumping.

But it still feels good to see CZ comes out to expose what they uncover when a huge FTT was deposited on Binance. It is suspicious enough. If the government can regulate which exchanges can postpone withdrawals, they should beable to also see suspicious things going on and be transparent.

Binance are number one for a reason.

What they are doing is simple business at the end of the day.

They are taking the choice to wind down the investment in FTX because of certain things that have come to light over the last few weeks. 

Now is the time to sit in hardware wallet and watch the fireworks.

It is more of who will suffer between CZ, SBF and us, than who will win between them. CZ and SBF are two giants in the crypto industry, the people who will suffer the full effect of this situation will be crypto users like us who may during this time experience a lot of uncertainties in the market. This issue should quickly pass, it is creating a lot of FUD in the market, and it is becoming unhealthy.

But this CZ exposing them will be good for all.  If FTX needs a bailout, Binance will likely be doing it. It will be good for the industry if Binacne takeover FTX. CZ is really nailing them. He knows the business well and might just be able to see who is swimming naked including Alameda. Crazy time and SOL is also affected. Gotta see how genius CZ.

You are probably right.  However, as long as you're willing to hold through the nonsense and wait for this to be over, you could make the case that the market will be stronger on the other side.  As far as who the actual winner will be...  I find it hard to believe that as a smaller newcomer with a ton of promotional expenses (they have arenas named after them) FTX would be able to withstand a war with Binance.  I think we're seeing that evidence now as FTX is bleeding BTC from customers and BNB is one of the few coins now showing red today. 

No one will lose, both FTX and Binance will take advantage of the situation and liquidate the retail investors.
The recent tweet by sam seems to settle down the things but then who were affected ? Those who sold in panic and those who got liquidated :(

https://i.imgur.com/XlyrFCU.jpg

https://twitter.com/SBF_FTX/status/1590012124864348160

https://i.imgur.com/G1zIOdP.png

Confirmation from CZ here: https://twitter.com/cz_binance/status/1590013613586411520

This is probably a good solution for the entire cryptocurrency market.

We saw big moves in the market in a very short time. People who followed the news and insiders probably managed to earn quite a lot during this time. I wonder if we will have any more twists on this topic.

Right but remember that binance has not bought ftx right now and there is still DD which needs to be agreed upon. Anything can happen in crypto market and there could be a situation in which they don't agree upon a mutual deal. Whatever may be the situation, the market will remain extremely volatile and if anyone looking to do future trading, be very careful and use low leverage because of the current volatility in the market.

That's exactly my thought too. It's not even about who wins but the scar that will be left on the crypto industry. Those two are major players in this industry and for them to dance naked publicly shows the unnecessary display of ego in man. Now, these two elephants are fighting; it's the grass that suffers it. Again, this incident is more likely to make SEC and other regulatory bodies begin to poke their noses into both exchanges. Unnecessary invitation.

i think CZ saved the crypto industry from crashing. if he didn't discover the near bankruptcy which FTX is about to execute a bankrun, just imagine how deep the price could dive if SBF had dumped all the asset to the market.

regulators (SEC) will not be able to see this coming. its one reason that regulators i think has to be someone with resources. if they are not able to see it coming, they is now way Gensler is able to regulate crypto.

Once again Binance CEO just saved the crypto market from a possible insane crash after the Luna incident, I am following CZ on Twitter and the latest update is Binance is taking over FTX exchange, he stated that FTX CEO asked for help and they have to sign an agreement, maybe this was CZ plan all along no one knows but if FTX failed to comply it would have been a disaster.

You would innocently believe their grouse is about transparency? I doubt that. I think it goes beyond that and runs into ego challenge with both men. They want to flex muscles a bit, forgetting that it will rub off negatively on the industry. Some people are even of the opinion that CZ may not have even sold off his holdings of FTX tokens that he only wanted to FUD and shake the other dude. There's a possibility to that. Otherwise, why would he make his selling off public instead of quietly doing it.

Maybe it's just me? I don't like how powerful Zhao is growing, this man is getting stronger and stronger every year, very soon he might be able to decide what and what for crypto future, this is not good.

We need men like him in crypto space but one man having this much power is not good for crypto, now it looks like decentralisation is a complete joke in crypto and it will never work.

Looks like CZ wins but none of us win, do we? This sucks, we are currently at 18,6xx which is what happened the last time we got rug pulled by some scammer Do Kwon.

It’s times like this when Gary Gensler is right with what he says.

Looks like CZ won at first but now seeing how the markets are reacting, maybe there won't be any winners at all. FTT is right now imploding and taking down every other crypto currency with it. BTC is below $19k at the moment. Even BNB is going down.

Bankrupting a big exchange like FTX won't create any winners. We will all lose. At least in the short run.

In the long run, it will be fine.

Binance has already won. Cz found ftx's vulnerability and attacked well this time. Ftt coin fell 86 percent. It is now hovering around 3 dollars. As such, the market also reacted negatively and the market declined by about 13 percent. As I see it, the information of ftx's balance sheet was leaked and cz immediately attacked. In this way, he eliminated another competitor.

There are a lot of bad news for FTX and it is directing like LUNA. So we have to careful to buy FTX at this time. Binance is one of the popular and familiar among people and I think it is good decision to choose binance as our investment.

Binance will win for sure, and looks like he's trying to monopoly the market. Correct me if I'm wrong

Binance has already won it. Market dominants always show power and create things in such a way that it makes everything hell for their competitors. I'm not surprised after seeing what Binance has done here. FTT crash like crazy, the way dumping is going we may see this token price lower. Sorry for all the investors who invested in fft token, they are going through a bad time.

https://i.postimg.cc/HsjyPW9y/Screenshot-20221108-224113-Twitter.jpg

Source;https://twitter.com/cz_binance/status/1590013613586411520?t=4wbDdVOiDAaTsyNJmpZX9g&s=19

I already said it again in another thread here in this forum today, that i also think that CZ and binance are just trying to erase another competitor with the announced sell-off of those FTT tokens. I just don't see any other reason why Binance would do this. I heard some stuff of people that the leader of FTX is not a very likeable person but that alone is definitely not a reason to harm one of the biggest projects in the crypto space. In the end it is like you already said. Everyone is affected in a negative way by such actions and i also think that small investors like me are usually the ones that are hit the hardest and we just have to endure it.

Binance is pretty dominant and acquiring FTX might be crucial for them, they are killing the competition and I read the news about the US agency will monitor this acquisition if it’s allowed or not. Well, creating FUD agains your competitor for a plan to acquire them is something fishy, I don’t know if CZ did it intentionally or this is all part of their plan. Whatever it is, make sure you know when to buy and sell, FTT and BNB will be on the hotspot for the whole month probably.

The timing of all of this was very suspicious, the market was finally recovering a little bit and then almost out of nowhere this happens, now it could be just bad luck, however if the Luna collapse caused such a major crash then the drop on the market we are witnessing could just be the beginning of an even bigger drop, I just hope that people learn from this and remember that in a bear market the only coin we know has zero chances of disappearing is bitcoin, and most of our money must be invested there as you never know when one of those altcoins can crash massively out of nowhere and drag us down with them as it is the current case of FTT.

at the end of the day it's the individuals that got sacrificed for the sake of these big guys like binance in order to make some kind of profits, it's rather doesn't matter whether it's binance that's win, the market is just getting worst the bullish seems even more further to come, I guess the market will need time to make some recovery again then, massive correction after massive correction is really gonna hold the bullrun from happening in this year.

There's already a winner and that's Binance. Binance will be taking control now for FTX. They've just acquired it and that happens just this day.
So, I guess the purpose of this thread is now done and over because we already saw who's the winner that you're asking for between the two.
And the clear winner is that there's a new acquisition that has come to take place and that's the usual thing and business these days of Binance and it won't be surprising if another big exchange is being overtaken by them.

exactly! there's no point of discussion now as binance acquired ftx.com. of yet, another unexpected twist in this crypto market. this will not be the last surprise that we will read before this year ends. all along, i thought ftx is doing good because they are seen as one of the big crypto-exchanges known to crypto traders. but then again, won't know what's happening up until this kind of news.

Yes, its true.

We dont really need any fighting or some sort but it did turn out that in between competition having these kind of situations could actually happen and just like the rest been saying that
it isnt really good for this crypto market on which it is really that highly reactive when it comes to fundamentals or events like this which it could really give out some effects
and we are indeed witnessing now on whats happening. Doesnt matter on whose gonna win but we arent that blind on who would be the one
and its just too obvious.

I don't think there is a winner here, between ftx and binanace, but the regulators' doubts about crypto will get stronger and make crypto regulation more difficult, and this incident will be a dilemma for everyone, where the level of trust in crypto will add to the negative image,

So another top exchange are already owned by Binance? I think this is not good for crypto industry as manipulation on crypto market will be easily controlled by Binance since they have the largest liquidity among other exchanges. Market crashed hard today all my positions triggered my stop loss, I hope this will end soon, big chance to those who are waiting for a good entry this bear market, eventhought Binance already the winner I think crypto holders the the one whos suffering more from this crash, I hope you are all good.

Just months ago, Sam and FTX looked to be a savior in cryptocurrency ecosystem when lot of collapses happened since Terra catastrophe. Now, they are facing the same issue and are acquired by Binance.

The war between Binance and FTX, CZ and Sam finished and Binance have become a bigger giant in cryptocurrency ecosystem. Honestly I don't want to see it as Binance should have more competitors that help Binance to improve themselves and also give diversifying choices for cryptocurrency users. Just like in smartphone industry, because we have Samsung, Apple must improve themselves and can not simply enjoy their achievements.

So now that Binance was asked for help by FTX, it's a win for Binance, knowing he is the savior. I understand that the teams have something in mind combining, knowing that they are the two giants of exchanges fighting to the top; still, with all the issues that happened, it's not going to continue anymore because Binance has won. Big money is flowing out of FTX, and they lost.

I hope Binance will improve everything and improve FTX as an exchange. It's sad to see this; I liked FTX.

There will be more exciting happenings in the market and it's not just limited to these big companies that have been acquiring each other and patting each other's backs. Many have really thought that FTX is doing well not until CZ publicized what he's about to do and that has made the FTX team worry about what they're up to. Well, having this said, that has made the acquisition so quick as it just made it look like that they're being helped by Binance to overcome this problem.

https://twitter.com/starokg/status/1589861637271715840
Star(C) Founder of OKG:
If unfortunately FTX becomes another LUNA,nobody in the industry can benefit from the accident including Binance. Both customers and regulators will lose some confidence about the whole industry .I hope CZ can think about stop to sell FTT and make a new deal with SBF.

Regardless who win on both of them. I dont think its healthy for retailers and traders and the overall market sympathy. Cause theres a lot of panic sell and being on insolvency means theres a problem on thr financial of ftx which is a very bad news for everyone in the cryptocommunity. We all knew that this will not help the market recovers instead get worse.

Binance has even more power compared with FTX. The liquidity owned by binance is farrr greater than FTX. CZ has not only destroyed FTX but whole of market. Bitcoin is dumping so hard caused by this drama. The recent tweet by CZ has been indicated if FTX might be acquire by binance exchange site. We are loosing a lot of money.

There's no need to discuss those people with lots of money caused the war between those people have been creating domino impact to the whole of crypto market.

People are loosing lots of their money in a day just like what happened with terra luna. I guess your portfolio was also getting dumped. That is suck when retail invetors always become victim from the drama that has been made by some big guys. You must see how market is giving very bad reaction today

There's not much meaning in who wins. The most important thing is that the market is suffering badly at the moment and the people who suffer the most are the investors like us. The pain caused by Luna has not yet subsided, but now we are dragged into another pain by FTX.

I believe that after this incident, we will be under stricter control from the government and strict laws will be enacted soon, bad things are still waiting for us ahead.

Actually have bad news with FTX after several withdrawal looks like pause and not working yet, seems one of huge exchange market will stop working and actually give bad impact later for exchange regulator each country building. Not agree what did by CZ how make FTX rugged and faced bad moment right now for FTX exchange market. I don't see any side agree what did by CZ because he has huge impact with Bitcoin and many altcoin kinds drop drastically more than 50%.

How long this moment happen? if can't stop I don't sure Bitcoin and altcoin can recovery as soon possible, will have attacking back from FTX exchange after did by CZ.

Didn't saw a post which states that binance will buy ftx but binance own a big portion of ftt coin which was owned by ftx exchange and they are planning to sell it. Binance never own any exchange yet but what they acquired on the past is coinmarketcap. Even if they buy a certain exchange, I don't think they can manipulate the entire market easily because not all are going to sell their cryptos but the majority are only accumulating.

You guys shouldn't say that you will suffer for this because you choose to risk your money in here and even without these on going crypto wars, the cryptos are always possible to decrease. Let us not overreact shall we?

We're all affected on this one and I agree that winners on this doesn't really matter because it's all in the expense of us, the investors. The market manipulation I can see clearly on this one and that has given them to purchase more bitcoins while they've successfully pulled the markets down.

They're already in the radar and that's why officials from different governments don't trust the market because it can moved by these events.

Binance signed a non-binding letter of intent to acquire FTX and they will obviously pursue it if they think it's feasible to still fix what's wrong with FTX. I believe that binance supported FTX before and FTX should be ready when these giants let go of their tokens. Well I believe market can possibly manipulated even if it's small it's still a manipulation. cz tweets obviously steered the community and the market which some believe cause the heave price dump.


Just this morning, Binance/CZ has made their decision in not acquiring FTX because of troubles that I believe out of their hands to solve and FTX being part of binance will surely put binance on a bad spot. Well we might see a continued crash on FTX just like we saw on LUNA.
https://i.imgur.com/TezFUch.png

Shit happened!

It's unbelievable that a big exchange and a top token like $FTT can be crashed to the ground too easily like this. In bear market 2022, we have been witnessing and having rare chances to learn that top coins are not safe. From Terra $LUNA $UST to FTX exchange and their token $FTT, the lesson is very bloody.

Will $FTT drop to $1?

Binance and CZ are genius. They started it by a tweet and the token crashed very crazy. Will it become similar to Terra $LUNA, months later Binance and CZ will play their role as a savior for victims of the crash just like what they did (buy back and burn) for $LUNC (Terra Classic) community?

This is the most exciting dramatic script I have seen in recent years, and their game has already begun.
And when CZ discovered something, he knew that the opportunity was coming, and publicly decided to sell the $2.1 billion FTT they held, CZ put the game created by SBF into a death spiral

No doubt, BINANCE is always on the winning trend, in my opinion, Binance CEO will not going to do things that can affect negatively on Binance, no person can destroy what he has built and that's what I've seen in Binance, they will stay and remain stronger even in this very turmoil situation of the market.

I do not think that CZ originally intended to destroy FTX, here, as in the perfect storm coincided with several conditions, most importantly the bear market and a very risky policy of FTX. Apparently initially CZ thought to buy FTX, but when he saw the hole in the company's balance sheet, he realized that there was essentially nothing to buy. Both the FTX and Sam are apparently bankrupt.

Binance has been the only survivor during the crashes days ago. There is no doubt that Binance has won. Well, I am not saying this based on theories or statistics but only offer a perspective: CZ, the leader of Binance. I have followed his tweet for a long time and he seems to be a responsible and pragmatic leader. He has been so responsive and down-to-earth to every issue that comes across. He is relentlessly doing his job and keeps update on twitter. Compared to a lot of industry leaders, he is outstanding and for this, I guess Binance won gracefully.

It seems that BINANCE, with days, will turn into a  big 5 company such as Facebook and Google, and try to swallow all the competitors, either through shorting, liquidity problems, or other ways to ensure that the platform is No. 1.

The person responsible first and foremost for the current problem is the mismanagement of Sam Bankman-Fried of platform, but BINANCE took advantage of the situation to eliminate the platform and therefore may do more with more platforms or at least intimidate them indirectly.

Everything happened so fast, just as I feared, that the government would make excuses to enter the market and would start to control us. Perhaps it was clear who would win, the government had enough reason to start controlling us. Once the government intervenes we will lose our freedom and one thing I fear more is they will stifle our development.
https://cryptoslate.com/secs-gensler-says-more-investor-protection-is-needed-after-ftx-fiasco/

From the very beginning when both claimed to have reached an agreement to purchase, I did not believe it to be true. If CZ buys FTX, he will definitely be sued for antitrust law. Binance is currently the leading exchange, owning more FTX will not help CZ expand the market faster, but it is better to eliminate a strong competitor.

Rumor has it that the head of FTX was sort of detained in Bermuda. I don't know if this is true or not, but apparently Sam is in big trouble.
So CZ wins without a doubt. He is at least free and Binance continues to work.
We do not know everything with FTX itself, what is it with liquidity, as if not to have to take it over later Binance, in order to prevent a complete bankruptcy.

  - If I am the one who will be asked between these two who will win, of course, we are already there with a lot of experience. agree because in my research many times it was reported that the exchange Binance was hacked but after these issues happened Binance passed it. Second, I saw a video on a social media platform that you only know exchange is strong if it has survived 2 bear markets.

I think there is a point in what I have seen because if I compare FTX to Binance, FTX is now facing a bear market, but this is what is happening to FTX, but the difference is that the owner of FTX is doing everything possible. to recover from this issue they faced in the market. I just hope there will be a thorough and proper investigation into this matter. As for those who believed in FTX to recovery.

Binance as always. It's not yet time for them to be down to number 2. I mean, look at CZ controlling the stage, just a mere tweet about selling all the FTT made the market react in an unexpected manner. A lot of investors thought that Bitcoin and altcoins will be stagnant until next year and yet it moved crazy by just a single tweet. :D
That's the power of being in the top of all the exchange.

Recent news says FTX has filed for bankruptcy in the US. This situation led to the resignation of President Sam Bankman-Fried.

https://i.imgur.com/H508ALr.png

You can see the press release on twitter: https://twitter.com/FTX_Official/status/1591071832823959552

I wonder if it will bring another sharp drop in the market, or people were already prepared for it.

People already knew it will happen but with every bad news the bitcoin price will fall again and again. Yesterday we had a pump of 1000$ in bitcoin price as a result of CPI data but today we again see a big dump and bitcoin is again 16500$. The market is too much volatile and every dump bring 10-30% altcoins crash. Not a good time to see the markets.

About the question whether who will win between FTX and Binance, it does not even matter because in the end, only the crypto adoption will suffer.

The CEO of Binance is of course the one who will acquire the FTX platform after its lack of liquidity, staying in the crypto for the strongest and the exchange platform that has billions in liquidity, Binance can beat all its competitors because it is one of the strongest and most popular exchange platforms in the crypto arena and has an expert team and first-class developers, now look at The price of the FTX platform token a year ago and its current price is about $2.70, investors are the victims and they will pay the price for the mistakes and inexperience of the exchange team. So I don't trust any exchange platforms other than Binance.

It looks like the answer is already known.  FTX already filed a bankruptcy while Binance is still staying strong.  Before that bankruptcy Binance somehow thinks to aid or buy the failing FTX  but due to some regulation issue, CZ back out which result of massive mess in FTX financing.  And about the FUD thing, I do not think CZ statement is FUD, CZ just stated the fact and the things he planned to do with his FTT holdings, now those who have malicious intent turned that statement into FUD.

CZ sure has an intention of saving FTX but yeah even if CZ doesn't want to spread FUD to the community, The community takes it as a FUD even CZ is just stating the facts and the result of his tweets steered the market. Everyone knows that CZ has a massive holdings and even if CZ sell it bit by bit it will affect the volume of FTT which I guess triggers the FTT holders to sell. FTX is a goner now and It will be put in the history along with LUNA. There's a small chance of FTX being recovered and their customers will surely not use FTX again if ever FTX survive their own catastrophe. 

I'm not sure if he himself believed that these tweets would trigger such a big avalanche. It resonated so strongly that FTX had an abnormal outflow of capital, all projects went downhill... and now they are facing bankruptcy. At first, CZ offered to help, but as far as we can see, he has now changed course:


We will see in the next few days whether CZ is just playing and wants to buy all that even cheaper or he will let them down the drain. It really looks like that CZ controls the stage and he is playing the "mouse & cat" game.

In fact, the market has not yet realized the extent of the disaster, otherwise instead of yesterday's growth, there would have been the expected fall. FTX liabilities exceed 8 billion, it is a big amount and there is nowhere to take it, so soon I think we should see bitcoin at 15,000 and lower. I think when everyone understands that the second crypto exchange in the world is going bankrupt, the fall will be very strong.

All user at FTX exchange can't withdraw their assets except with TRX or Tron network coin have different price between FTX and other global exchange market, seems way try manipulated by FTX exchange how to make their user not withdraw assets awhile. Already bankruptcy with FTX exchange and the owner announced resign from his company and not any progress yet what happen later with his position leaving and member fund there. I am lucky because have withdraw all my assets at FTX exchange before war happened between CZ and Sam, right now almost impossible can withdraw fund at FTX exchange and not any progress announcement yet when the user can withdraw their fund at FTX exchange account.

I do not think that FTX will have a recovery now that they file bankruptcy, they have to stop operation.  This is double hit since users that have fund on FTX can't withdraw and investors who holds FTT will have their holdings possibly reduced to being worthless.  I feel sorry for those investors and users that were caught in the demise of FTX, it is a clear misappropriation of funds and the management should be held accountable for this mess.

For such whales doing something like this to small investors is as easy as shooting fish in a barrel, and yet the financial devastation that all of those which put their trust in the FTX exchange will have to go through is immense, so we must always remember that regardless of our knowledge and how good we may think we are at the end we are nothing against such large forces, and it is because of this we always need to be very careful as we never know when the next Luna or FTT incident may happen.

We should never trust centralized exchanges. We should always be wary of them, but centralized exchanges are in the middle of our lives and we should not hesitate to take advantage of them.

At this point, Binance is the best among the centralized exchanges and CZ has not lost a single battle... Had CZ faced Gaius Julius Caesar 2,000 years ago, he would have defeated him too. If he comes face to face with aliens one day, he will defeat them too...

I'm exaggerating because I want to be understood. -Franz Kafka

:)

I even don't care who will win. here, the victim is the suers of those exchanges, the investor of FTT, and many people are suffered because of this problem. Why should care about who will win? Whoever the winner, they will never care about us who have been suffering so far. What's happening here, why have two big and top exchanges become like this? And now FTX is really becoming an exchange with very low rank in the CMC. I am sure that both exchanges have their positive and negative sides. But, how some parties spread the FUD and make the FUD much biggger untul crashing the market, this si just a bad way and bad thing. 

Exactly, the war is not in the favor of the market and all investors like us, it doesn't matter who wins and it shouldn't happen. We have experienced too many losses due to luna crash and now we continue to receive more losses caused by FTX. This will make the market worse and newbies will have a bad view of the market.

Binance is likely to win this war not only because it is a cash rich company but also, they are smart player in crypto space, launch new products, believe and continue struggling to improve their trading platform and satisfy their customers with prompt support. No matter whoever wins, they should find some way to compensate who suffered huge losses during this fiasco. The crypto community should raise their voice and put pressure on regulators in each country to avoid repetition of such turmoil in future.

That is the main reason why Binance became so good, because CZ knows what he is doing and follows him because of this talent he has, he only follows what he believes in and he is madly in love with crypto and everyone likes him because of this. He would never do anything that would hurt crypto in the long run, even when the price crash happened because FTX was crashing and CZ didn't help, that is still better because if he did, then maybe in the future it would have been worse.

It’s like taking a medicine that tastes horrible and makes you want to hurl, in the end it may taste horrible but it will make you heal and be better and that’s what matters.

What happens is that it was not just FUD, the FTX exchange has been doing all kind of creative accounting to make it seem as if they were in a better shape than they actually were and CZ took advantage of it and destroyed them, if he had not done so it is possible this would have happened anyway, so those people would have lose their money in that scenario as well, the lesson here is to never trust in centralized services as we never know when they are going to collapse.

But Binance still remains underdog. I say this because Binance had gotten an attack too, but they were able to anticipate that very quickly. the address of the hacker on the bsc network is frozen, this makes many people proud of binance, while FTX suffers huge losses. but the influence of FTX is not inferior to binance. at least it will make the market a little shaken.

What an irony, they have tried to build a reputation for so good and so long, but this is the reality, nothing can be perfect. Weaknesses (which are considered significant and very important) can destroy something very quickly. Like this FTX, they can already reach a high position, but still can be destroyed easily and quickly like shit projects. They are really a mess right now, I can't imagine what's going on in their management and all teams right now.

This is a fact, who will win will not really give influence us, we can see how many people are suffering from this condition. Some people are utilizing this condition to make more investments, but some people are also suffering because their money is lost very quickly. Ths is the risk of war.

Everyone in the cryptosphere, including CZ and SBF, is losing out, in my opinion. How can it be a winner when all cryptocurrencies crash as a result of this horrible news, I mean? The community became more disillusioned and decided to leave as new investors are reluctant to enter. They believe cryptocurrency is no longer secure. In actuality, centralized parties provided the majority of them. I believe we need to reconsider the fundamental ideas behind cryptocurrencies and blockchain. Decentralized rather than centralized. The cryptosphere needs to return to its foundations.

There are always winners and losers, maybe it is not obvious right now but it will be in the future, what we are seeing right now in the market of cryptocurrencies is similar to a forest fire, many plants and animals will die, but with a reduction in the number of competitors the survivors will eventually thrive in that environment, this is what it will happen here too, many coins, exchanges and casinos will die, but the ones that remain will become stronger because of it once the new bull run comes.

The only winner in this event is the awakening of the crypto world. Let people more clearly understand the importance of decentralization. But at this stage of digital currency development, government supervision is even more important. Like the parents of a family, children need to be given some time to grow and make mistakes. I hope everyone will stop guessing and stop accusing SBF. Of course, he has unshirkable responsibility, but what is the reason, I still believe that his original intention is good. For Binance, due to normal industry competition, Binance’s internal pressure is also very high. CZ’s figure appears everywhere in the world. I suspect that he has no time to talk about a vigorous relationship. There is no doubt that these two people have left a strong color in the long history of the encryption world. From this point of view, I still appreciate it.

There are winners and losers in a same condition. The collapse of FTX is a serious warning to other exchanges about risk management on their user capital and their exchange capital. The domino collapses of other platforms related to FTX are warnings for other platforms that they should manage risk better.

For investors, who lost money already lost it but for them and the rest, it is a very real and valuable lesson that they must learn to move forwards. Don't store your cryptocurrency at centralized platforms including centralized exchanges.

Generally all of those collapses will result in more and stricter regulations on cryptocurrency that are only good in long run. They are very good tools to clean up cryptocurrency area and protect people better. Less scam, less drawbacks and the industry will only become stronger and more sustainable.

"Binance(through CZ) was the company that said that users should get their funds off exchanges. They claimed customer assets are fully backed on Binance. They said you shouldn't trust (other) exchanges and championed proof of reserves. Then they published their proof of reserves article on 10th November at about UTC 13:00:00 or 1PM UTC (the actual snapshot taken earlier obviously) . But only 20 hours after publishing, Binance moved 2.7 Billion USDT to another wallet. This wallet is not disclosed or tagged as a Binance wallet and not present in their "Proof of Reserves" publishing.

https://i.imgur.com/8kNodkD.png


Then only just yesterday, 200 Million tokens were transferred back into a disclosed Binance wallet leaving around 2.5 Billion Tether left in the new undisclosed strange wallet.

https://i.imgur.com/hnInQtN.png


https://i.imgur.com/4cYI0pr.png
"

More info and source: https://www.reddit.com/r/CryptoCurrency/comments/yxtmv2/binance_moved_27_billion_out_of_proof_of_reserves/

Remember guys, it's better not to trust any exchanges/services, and keep your funds in the private wallets.

Oh great so now we are fighting for the exchangers stand point? What is wrong with people on this earth. I find it so funny that big millionaires like the CEO's of such companies are being cry baby about the FTX exchanger and taking the advantage of the same to showcase their dominance? For me it does not matter who is going to win, the end point is both of them are centralized crypto exchanges and that was the whole point here! They made it go wrong and users registered on them with the funds are loosing their money in the process. I don't understand how market is even reacting to this shit. I think many many people still do not understand the pros and cons of centralized and decentralization of their funds. Unfair market.

Is it really necessary to lose your money in order to learn to adhere to a simple rule of storing coins on a non-custodial wallet? After all, this is a well-known fact that does not require confirmation. Obviously, many people who lost their money thought that this could happen to others, but not to them.

a situation that is really not good where the crisis is protracted, of course, everyone will also be busy with this situation and let them be able to resolve it as well as possible with the risks that must be taken.
no one will feel greatly benefited and will feel victorious with the FTX issue, because the situation that occurs with it will actually exacerbate a market that is already not good, which is clear which will actually make investors gain losses as a result.

No matter who will win because they both lose their reputation in the community and the trust is already affected.
With these two big companies competing with each other, I'd never expect someone will easily give up.

However, we still give them time to resolve their issue. I think they need some time to settle it down and bring back the money for their clients. If FTX is true to its motivation and helping the crypto grow, they also help themselves become better and proceed to healthy market competition.

What happened to FTX is outright fraud on an unprecedented scale.
SBX and Caroline Alameda are bad actors and menace in the crypto space.

This is a scary time for new investors but this could actually be a good time to buy more Bitcoin at a discount.
Wealth is created during bear markets, not bull markets

It wasn't a competition, so there won't be a winner here. But we can definitely say that due to the collapse of FTX, reputational damage was caused to the entire crypto industry. And since the problem has not been solved, we may soon see another bankruptcy of companies that were affiliated with FTX.

Binance is currently in control of the market, of course it is difficult to be able to defeat binance, but many things that happen and unexpected and in my opinion the competition Exchanges will make a loss that investors are more afraid and panic so they prefer to sell assets rather than hold.

From what happened, I don't think there is a winner, users of FTX lost a lot of money. Now if you are referring to exchange company competition, Binance already won over FTX, the reason is obvious, FTX got bankrupt, and it was because of the large volume of users withdrawing their money out of their exchange platform, of course, it was triggered by the recent issue.

if we talk about business, I can see that everyone is trying to compete with each other that's why exchanges are still improving. Features are added by the leading competitor and the other ones are trying to copy, improve it and try to make the implementation more better. Though I think in the case of FTX and Binance, I can see less competition from them given that CZ knows that the whole market will gonna be affected. Crypto is now on a dire situation and this can change crypto on the upcoming months given that there will be a possible regulation on government laws about cryptocurrency to avoid another FTX incident again.  

Binance remains as the biggest exchange in the world with its reputation intact. Without any doubts Binance is the winner among all exchanges. Every mistake commited by an CEO is immediately commented and condemned by CZ from Binance on his Twitter account. It is like he has been dictating the rules and guidelines on how to operate the business in a professional, responsible and sustainable way. Even though the whole crypto ecosystem suffers with companies' bankrupticies, including Binance, they are probably the ones who are going to be most benefited as soon as this FUD's wave go away.

There are still a lot of people who have not been able to withdraw their money and it can be said that the number is very large. FTX crashes not because users massively withdraw money, but because they take users' money to do their own work and now they have no money left to return to users.
Binance is not the winner of this battle but SBF won, he has appropriated a lot of money from many investors in the world and he is still outlawed.

Scary indeed, especially those who are not doing their research and just stepping inside the market without knowing the fundamentals, what will happen now is still unsure.

You need to make a good call if you are capable of investing more money collecting good project
while the market is still down, take your chance if you are aiming for long-term investment, the
news might hurt the market still but in the long run bounce back will take place.

At least now you know who the real big dog is, and i hope you know there was nothing like FUD, after all, it was clear to the whole world how ftx gambled with investors money, CZ don't need to fud any exchange just to get the upper hand, his way of handling business already does that.
Unfortunately, people don't like to face the truth head on, not everyone who talk the talk can walk the walk bro. This is a perfect example of that.

Already Binance won while Ftx has been fully damaged and regret that most of Ftx users lost so much. This why regulations is so compulsory for these Centerlize exchanges otherwise no one will invest big in cex. I am safe now but it's very bad for whole Crypto.

FTX already get out of the race.You should be updated with some knowledge about the recent news.FTX scammed huge people by making them to trust.Over a year,they created huge trust among the people and traders.When they reached some maximum then they expected.They just sign out with the huge profit to their pocket.Binance was good enough.Expect their future trading affected huge people.

Like the previous few weeks, CZ's tweets had a huge impact on the market. Even after his tweet yesterday, the price of BTC has fallen by 10%. Now it seems that every word this man says has a lot of effect on investors.

I think Binance will survive. This will continue to grow, and influence the industry to look for bigger innovations. In the crypto industry, not only Binance, competition is a good thing for crypto business.

I won't still keep FTX in the race because Sam filed for bankruptcy after his friend and business rival, Chang backed out of the deal to salvage the company. As it is, John Ray lll, the new CEO of FTX sees the company's corporate control policy as a complete failure.
 Sam keeps coming from one problem and entering another. Presently, I can't compare the two; even if Sam still has some funds stored up in God knows where, he can't beat CZ.

He always has influence in the market, whether we like the man or not he will continue to cast influence in the market because of the many innovations he introduces in the industry, he is always there when the market is crashing to assure investors and warn investors of the many dangers that affect the market.

For the industry to survive we need many players like Binance and CZ who can cast a positive influence on the industry.

Sam is a scammer, he has deceived people by using FTX money transferred to Alameda to carry out other business activities without notifying any shareholders or investors. If CZ does not speak out soon to expose Sam's lies, sooner or later with his lack of transparency business activities, he will soon go bankrupt. Like you said, even John Ray lll, the new CEO of FTX, can't believe that FTX has lasted so long with Sam's way of running it.

There will be a big loss of crypto or even traders if we see some rivalries in the site of Crypto. Binance is still on top, it can recover as much as it wants, but the problem is with FTX. It losses a lot, which can't be covered now if we think so.

Now is certainly ftx is insolvent will never recover, instead binance is at the top as usual a solid exchange with large liquidities two sides of the same coin unfortunately the story of ftx will distance many enthusiasts and investors from the world of crypto

Correct, many people are trying to blame CZ for what happened, but why should he be responsible for the criminal way in which the FTX exchange was managed? If anything as it has been stated by the new CEO it is surprising it lasted as long as it did, the bankruptcy of FTX was inevitable, now we need to wonder if there are other exchanges that are in such a bad shape and until that happens the best thing we can do is to stay away from exchanges as much as possible as the possibility of contagion is quite high.

Well, I guess that really aged well. Hindsight they say, is always 20/20.Now that SBF and FTX are down and out, what have we learnt? Well, what I did learn is that nothing is guaranteed in crypto. Hell, nothing is guaranteed in life. Only guaranteed element is death

If the crypto exchange owner or someone else is defeated, the state of all altcoins could be worse. As a result, investors will be the most affected in the market. The current market conditions are so bad that there is no prospect of improvement. I think we need to get rid form the Hostile mentality.

Binance … FTX is trying to buy Voyager rn … so they have a lot of money tied up in that … The main thing here is that investors will loose for sure:(
I wish these guys stop their ego which is killing many investors present and future.

I don't know who will win, but whoever has the best forehead, God will give it to him, but I have never received it, so I hope to get something one day.  Do not lose hope whether you get something or not, you must keep hope, inshallah one day you will get it.  But getting from Binance is not easy but not cheating.

This is not good for cryptocurrency industries, and the effect really affect the crypto market, which make bitcoin to dip more than before, Checking on FTX and Binance fight has been a very high impact news that clash the Bitcoin price to a point of all time low after the bull run.

FTX Trading LTD owes its top 50 creditors approximately $3B, according to a court document filed on Nov. 20. The document was filed as a part of the company's Chapter 11 bankruptcy proceedings through the United States bankruptcy court for the district of Delaware.

According to the filing, FTX owes the top individual alone more than $226M, while the remaining debtors each owe between $21M and $203M. The creditors' names are unknown, and their addresses are kept private. According to the document:

“The Top 50 List is based on the Debtors’ currently available creditor information, including customer information that could be viewed but is not otherwise accessible at this time. The Debtors’ investigation continues regarding the amounts listed, including payments that may have been made but are not yet reflected on the Debtors’ books and records. The Debtors are also working to obtain full access to customer data.”

https://i.imgur.com/PDl38py.jpg

Source: https://storage.courtlistener.com/recap/gov.uscourts.deb.188450/gov.uscourts.deb.188450.51.0.pdf
Source 2: https://storage.courtlistener.com/recap/gov.uscourts.deb.188450/gov.uscourts.deb.188450.51.1.pdf

I mean that wouldn't shock me, if it is only their own bitcoins we are talking about then it would be shocking for sure, but if we are talking about all the money they have from customers as well, this is the biggest exchange in the world, so all of the bitcoins from suers would mean that they could easily be the highest amount of bitcoins for sure.

That doesn't mean that it will be an easy task, we need to make sure that they are keeping it as safe as it could get because it’s too much, tens of billions of dollars all in their safe, and that’s a scary thought. However, that also means that they are very well aware of the trouble they are in, and must be securing it carefully.

and it's not only a very tough task for binance but also the security that must always be maintained to protect the customer's assets that are on the platform.
actually all of that is not a guarantee that binance will have a 100% security guarantee, but what you need to worry about is competition between large companies that will shift other companies such as drama binance with FTX at this time.
we can't imagine what if one day what happened to FTX will happen to binance. very terrible

Yes, this kind of situation is very scary. Market is on red signal due to FTX. Thousands of investors have lost their wealth and if any such situation happens with Binance then investors will have no confidence anywhere else which will be really terrible. We don't want conflict. Owners may have nothing to lose in a conflict but ordinary investors have to lose everything.

This didn’t age well did it. I guess none of us were to know the extent of the amateur business practises of SBF & his executives. I’m shocked myself to be honest, there was gross misconduct & outright fraud from all directions.
There simply must be jail time for many of them. There is no defence or reasonable excuse for playing Russian Roulette with customer funds, it’s inexcusable.

No need to compare because in the end FTX got bankrupt due of their greed and made the crypto to go crashing again courtesy of SBF fooled everyone in the crypto industry. Binance will always be the top dog in the industry and always be a good role model in the crypto space and also all the credits to the man CZ for being a savior of crypto.

From the outside, the Binance solution looks just as good as the FTX solution. In an update from FTX in regards to their exchange, they stated that their exchange is going to integrate a blockchain solution and solve scalability issues. The main purpose of this update was to show how well they are doing as a team, and that they are making progress towards their goal of getting a working product.

I just want to add something to what you said, as far as I know, the funds that investors put into Ftx were given as a donation to an influential person in the government, so SBF's backup is coming out strong now, despite all the bankruptcy declarations.

But of course, the Ftx incident is still being investigated, so just like I mentioned, it looks like SBF will be able to get through this because of its backup. However, even there is an investigation happening and doing it by the FBI the evidence I think is not that strong againts SBF.

I think have clearly with FTX exchange problem and could said scam, I don't think have good result about investigation for user and member have assets in FTX exchange. FTX was declared with bankruptcy and their coin drop drastically give impact for user can't withdrawing their fund and almost the same finished with other scam exchange before.

Be careful for long term holding assets in several exchange market, I worry after FTX which one bigger exchange market become scam and run away much money from investor. Actually I dislike what CZ as owner from Binance how to make bad reputation with FTX exchange before collapse and not have solution about refund assets for user hold their money in FTX.

I think it would be better to not store all the money in a single platform but they need to diversify it on other storages outside binance so that when there's a hack, they still have something to get but I trust the security of binance. They have enough funds to hire the best people to work their security and I never heard binance got hacked.

If there are companies that will shift the drama to binance, it will be clear that they are butt hurt and want binance to go down. The public are going to attack them instead and not binance because I know that many people still love binance at the moment despite of what they have acted last time on FTX.

it looks like binance will win easily because FTX was proven to get a hack a few days ago, already some people have experienced asset theft after updating its application even the old application. I think as long as binance can keep her safe she will be as long as her best can be.

I think there is no winner , all are losers. FTX collapsed and filed bankruptcy and Binance also got hurt barbecue investors are losing confidence in crypto & withdrawing their funds from central exchanges which is bad for the entire industry. Though damage given by FTX is temporarily but market may take months to recover & if any more such incident happens in coming weeks, it will again derail the market.

I'm happy if the plan to buy Voyager continues because I am also Hold Voyager, unfortunately FTX is currently in serious matters and has officially registered bankruptcy in court, this is a disaster from a large exchanges so that it makes a market drop and is difficult to rise again.

if we can only just do assumptions, then FTX will become guilty but it was different when it comes to court. A lot of things needed to present in court, documents, etc in order to make someone guilty and take responsibility. Since they are one of the big exchanges in the crypto market, dealing with them is not easy and the process will take so long.
Might we can say it was FTX but many people had a feeling about conspiracy.

You mean they are fighting, I don't think so, FTX would be fine if they didn't really have a problem, they used the user's money leading to a depleted reserve so sooner or later it goes bankrupt. Binance is just a small catalyst to make things faster but you are right nobody wins here, only losers here are investors like us.

I feel like it’s not that hard if you are paid billions of dollars? I mean we are talking about giant of a company and if they are not greedy then it will be fine. Why did FTX crashed? They were too greedy, the owner wanted more and more of that money, he wasn't paid that, he was given to hold it for customers, but he used it for his personal gains and that caused the trouble because market crashed.

This means that when people want to withdraw their money, it’s not there because owner used it to buy stuff. This shows that if you run a proper exchange with none of that, then you could make a ton of money and you would not be in trouble and Binance I believe doesn't use your money at all.