Bitcoin Forum

Why does my gut keeps telling me that this whole FTX of a thing was all planned? Binance CEO is looking like the HERO but I still suspect him, CZ can't tell me that he his just suspecting these people.

It also looks like something the government benefits out of? Maybe I'm going out of line but I belief there is more to this than we know.

In every bear market these is always a big flush-out, it's like a necessary thing for new opportunities to be created.

I wonder how long crypto will be in this mess of total manipulation, where ever Satoshi Nakamoto is right now I am sure he doesn't want all this.

To be fair, bear markets are usually created due to a big negative event happening. Whether that's the recession or FTX or whatever past company that has screwed thousands of users. It's pretty much always off the back of bad news. At least, the big dips are. Obviously, you get natural variation so there will be ups, and downs.

I will say though, while I haven't particularly looked into this FTX situation, naturally humans seek out the most extreme explanations, and usually the reality is much more down to earth. So, while you might think there's a conspiracy going on, and you might be right in assuming that, it could just be your mind looking for something more exciting. It could be that FTX just mismanaged their funds horribly, promised users things that they'd never be able to deliver on, and ultimately paid the price.

I saw claims SBF withdrew $1bn just before the entire thing happened too but this might've just been something employees mentioned to try to put more blame on him rather than any of them. The same might go for most of the headlines that come out of it now he's resigned as CEO, everything can be blamed on him without much recourse.

Generally, exchanges are more likely to run out of money during bear markets because liquidity, volume and price all fall so they can't make back money from fees or selling their own crypto linked reserves.

I tend to hold that whatever conspiracies have possibly existed at the time FTX collapsed are those that are perpetrated by FTX themselves. Binance was in the blue about this whole thing just like the rest of us.

Could it mean that they conspired to hack and claim such huge value of cryptocurrencies? - that's how I see it. I'm not gonna assume that as "mismanagement of resources". How could Alameda research file for bankruptcy too? along side with FTX? Well, the reasons could be that there are affiliated and owned by the same person, Sam.
CZ doesn't really have a hand in the whole situation. Centralized platforms that are basically trading cryptos are experiencing a bad turn over this period ( this could be where the whole problem came?)? But how bout the bankruptcy deal? Are there any plans to settle everyone that had 'em stocks with them? I'm yet to know that.

Sandra 💇

Of course he might know little or many things behind the FTX whole story because i begin to have him as a suspect along when i heard about his intentions to initially acquire FTX before the collapse, one thing about all these centralized exchanges is that they also need to swindles their own partern into the system in other for them to be able to amass more fame and profits but once it's not in their favour they quit and turn the opposite on those involved together, CZ isn't the kind of man i think i can trust every of his actions to an extent.

I am not sure how the story progresses from here (others are following the situation much more closely than I ever will, thankfully), but this incident has all the makings of a cautionary tale. I know you cannot really compare it to something like The Titanic, but for all its bluster, expectation, and initial promise, the ship just capsized spectacularly before many had finished getting comfortable.

On the other hand, we could also see something positive arise from this disaster, as many long-time users and developers could be revitalized by the chaos and turn out some exceptional work. A harsh lesson, but ultimately a lesson that can provide us with a foundation for how to be better marketers in the future.

As for the specific situation here, it is still unclear. A fault of mismanagement, perhaps? Or maybe they simply expanded too quickly, just like many other startups in the field.

The mismanagement of customer's funds was planned, what was not planned was the collapse  ;D

He knew what was going behind the scenes before we all knew, perhaps he reached a point where he couldn't hold it anymore and tweeted about selling the FTT tokens they had invested in

Nakamoto couldn't care less. He did all he could, he created a decentralized peer to peer electronic payment system and preached about not trusting third parties with coins, but most people still choose to keep coins in centralized exchanges that are more like banks. That's on them, not Nakamoto.

Of a truth, there might be some kind of conspiracy as nothing happens spontaneously without any kind of interference or conspiracy. But in the matter of FTX, CZ could be innocent but he is not off the picture.
I had already voted them as anti hero's of the year. One thing is that theyhave become so rich that they find it difficult to differentiate between their money and people's money on their hands. That is why it is important to as much as possible keep huge part of your money away from exchanges.

We can't put aside that conspiracy is possible. But to prove if that is true it is too far away. Yes, we know how money could play on the table and rich people are somehow willing to take a risk on their reputation for the sake of money and business influence.
It really gets too much attention in social media and causes price drops. The more we talk about them, the more it gains interest and attention, and the more it drags our minds to think negatively.

Who's fault is something hard to see until now. They both are clever enough.

Apparently, I'm not clear about CZ moves in this same situation, he blew the whistle and offered to buy the exchange before it collapsed. Hence, no doubt, he is behind the CEX scene so he knew something about this yet his hands are clean.

The blame goes to the SEC for not regulating exchanges. According to Rep Warren Davidson; in his tweet, he said that the SEC had multiple meetings with FTX before this incident and he's surprised that the SEC haven't taken action regarding the CEX regulations. On the whole, his statement is pointing to a direction of incapability, the SECs seem weak for the job.

 And many reports or tweets sound it that Gary and Sam including the Alameda CEO have got some mutual relationship. In a nutshell, when money is the goal most officials won't take action. SBF is the scape goat they're other people behind the FTX bankruptcy.

The more negative thoughts around the FTX case, the more our mindset becomes more focused on things impacting the market. As far as we can see, the impact of the FTX collapse regardless of whether there was a conspiracy or not has made the market crash. There are many people talking about it everywhere and this will only make the trust of traders and investors in the market even more affected which in the end will also be very negative for crypto.

We know we can't stop people from complaining about losing a lot of money to FTX, but losses like this are the real consequences that many crypto critics have long feared. Everyone should realize that in reality crypto (except bitcoin) is a project that will benefit business owners. Nothing is safe as manipulation is always possible to find out, but something like this would not happen at bitcoin as fully decentralized.

How many versions of what happened to have all of us read? Ranging from the wrong investment of money to theft and ending with the most common laundering of funds and subsequently transferring a huge amount in favor of the Democrats,
Now I'm surprised that the perpetrator of what happened is still at large and plans to speak at a conference in New York City on November 30th.
I doubt that everything happened by accident. This is certainly a conspiracy of those who are more equal than equals, according to George Orwell.

CZ acted smart and attained the monopoly almost without paying anything for the rivalry so he maybe a hero or the villain depends on our point of view but he will be benefited from this because now Binance will be making more money than before.

But why we have to Blame CZ for the collapse of FTX and current bear run?

Crypto currency even faced bear and bull run before the existence of both these big exchanges.

To be frankly speaking, without concrete fact, this remains an allegation until proven otherwise, because a person can only work based on the level of information one is been given, and we were told FTX got hacked,  of which the sum of $600million transferred to an unknown wallet address, of which nobody can argue about it. But if you suspect this must have been a planned conspiracy, then the best thing you need to do is to first secure your asset, by storing It in a cold wallet, rather than using a centralized exchange that can be hacked someday and money stolen

What you said is very much the truth about the cryptocurrency industry this is because all the manipulations always favour institutional traders, the exchanges and the big market manipulators.
Ordinary investors are the people that suffer most.
Then the way the cryptocurrency industry is going, exchanges are taking over and it is more or less going into centralisation.

You can understand with me that 70 to 90% of the newbies that enters into the cryptocurrency industry only had to buy their first coin through exchanges and when they get their coins through exchanges, many of them will not be bothered anymore to make further research on how to secure the account. By this we develop newbie of exchanges. So, incidents as FTX collapse cannot be avoided even in the future.

I do not understand why everyone is saying that CZ started all this? If I am not mistaken, it all started with the leaked Alameda's balance sheet that revealed that the company's books heavily relied on a FTT tokens issued by FTX. It is simply a case of poor business decisions and managerial misconduct. CZ had nothing to do with that scandal, imho.

I wouldn't suspect CZ although there's really a thought that he can mess around but with his own company and not with the others - FTX.

When CZ started to tell that he's about to dump FTT, there goes the defense of Sam that everything is okay, good and working normally. But then, with all of those positive tweets about the start of this fiasco, they've turned into nightmare when he has started to file for bankruptcy.

Maybe also following in the great reset which was prepared by people who want to destroy the world.

In my opinion, this looks just like a business competition between them (SBF and CZ) at the right time (winter bearish),
so if people stay on crypto for between 5-10 year is not surprised by the case, because insecure people will relate to the incident by incident which look suitable and compatible like all be planned. (the drama will happen time by time, from bearish to bearish)

I am even more confused now because CZ is now ready to donate 1B to this SBF shit show, I thought he was ready to crucify this guy to the core? And why is SBF not in prison already? Everything looks suspicious to me.

It's like they sat down somewhere and have a discussion about how they will reset crypto market and make a huge benefit from it. 🤔🤔🤔🤔🤔

even when the news that CZ was suddenly going to acquire FTX became very viral and even immediately excited the market to pump again but the next day CZ said he was not going to acquire because he saw that the problems experienced by FTX were worse than he had expected. and the market became a deeper dump after that. I think even from that we can see that all of this is more like a DRAMA. and yeah this is like a soap opera with lots of episodes. and I think in every bear market events like this always happen a lot. we don't know the real truth. but we have to get used to it and learn from these incidents.