The guy is reminding that it could happen even in Binance. There's no assurance in the crypto exchanges because they can change their minds at any time or something really terrible can happen to them.

Even if CZ has shown how much they've got in their reserve fund.

It won't change a thing when they're being hard hitted by some hackers or by an inside job or any unexpected thing that would totally wipe out their assets, their users assets.

I don't know that Solana is backed up by Alameda research. But with things that FTX shown together with their founders, then it's a must thing to do for those that want to be safe with their money.

Everyone who knows what happened with their exchange and people's money will start to get away from any project where Alameda is also part of. That's like a protocol for those that are too concerned with their money.

He was once a billionaire but not anymore today. I don't know that guy, Chibueze. But if he's in good will to donate $500k of his wealth to the victims.

But upon reading the article[1], it's not an actual donation that he's going to do. It's like a fund that he's willing to lend to the victims or the exchange in rebuilding of what the damage has done. Let us say that he's literally going to donate it and just want to add to the fund. However, I think that won't be enough as the damage is already too big to stop.

Yeah, looking at its chart. Despite and the fact that we're in a bear market, its chart is performing well and didn't plunge a lot unlike most of the crypto in the market now.

Are there other impressive things about it aside from those that you've mentioned that it's now being used in those things, into defis and nfts? Because those two are also being hit by the bear market.

I also saw that news and the FTX telegram admin admitted that the hack has really happened.

https://twitter.com/WatcherGuru/status/1591301679202590720

Such a lot of things happening to FTX and it's already on its pitfall, I doubt it that it's going to end up with a good ending. It's just making each of its customer to be disappointed with its closure.

How and why?

I'm taking a look at it and I can say that it didn't moved that much during the all time high. And while we're in a bear market, the price of it is just half from its ATH.

And that means to say that it's still got a lot of room to improve when the bear market's done. But I want to hear more about this project before someone has finally convinced me to get some of it.

Congratulations if you have made that big. If I were you, I won't broadcast it yet to the public that I can make that much from that project if it's no twist at all.

And with that, I'll be set for life without anything to think about and without bothering other people.

That's how it should be, before you share the trade secrets, make sure that you're able to make rich from it and only you.

That's mostly where it is going. Those projects that are no longer active on their social media accounts are likely have left it and abandoned it.

They're done and the project's done so don't burn your money buying the project they've got or tokens that it has got.

You're just close to losing your money immediately if you're not careful with those. Just leave them quickly and don't give your time to them if you haven't invested yet to it.

We know what to do and I don't want to commit the same mistake that I took for granted during the past bear markets and corrections.

It's easy to look at those past lessons if you have been so optimistic on this market and how far it will go in the future. And by having that thought, you'll not waste every opportunity that you see on it.

Even just buying a hundred every downturn, that would be already enough to keep going and just be consistent on those times if ever you feel that it's a dip that you shouldn't miss.

The FUD can't be stopped. Just as bitcoin is here to stay, the same goes for the FUD and it's also here to stay. But, we have already able to cope up with it and most of us that have been long in here can easily ignore that.

But not each one of us can totally ignore it because many from the newbies are scared of it and they can't just help themselves from ignoring it.

No matter what the FUD is, everything will recover just as how bitcoin recovered in the past bear markets.

Sam just filed for bankruptcy and he has stepped down as CEO. This is hard on him, after being part of billionaires list, he's got his own wealth out of it to $0 so fast, within less than a week.

News: Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy

That will happen for sure. People will not keep away their balances off exchanges and will start to look where they can really have it securedly. And that's through hardware wallets and for those that can't afford it yet will just have to keep it on their desktop wallets.

This is why DCA is the right approach.

Since all of us are unsure if this is going to be the bottom, we just have to keep on buying while we see it go down for more.

So that when it goes down longer, we still have a budget to buy for that time when it comes. People should just learn about the movement of bitcoin in the past and apply the teachings it has left to us, right now, as in.

He already saw how he can take advantage of it for several hours to play with the market and make it look like he's really a good guy for the entire community.

But whether we like it or not, there's really no way he can help this sinking boat (FTX) and that's all he has to say. That there's no hope on it anymore and Sam has just to pay everything he can if he's got some assets left to pay for his debt on this one.

I agree, they're playing our minds and we need to strengthen our way of handling these scenarios in the market no matter what.

There are the others that could be labeled as the greatest villain but, is that even necessary to be made? The guy has already filed for bankruptcy and I think that he's got no way to escape this fiasco that has been made by him and his exchange.

I am not on his exchange but usually withdrawals become unavailable when there are news like this that they've been involved with.

And it's not just the USDT that's been disabled but majority of the withdrawal channels on FTX.

Governments are regulators and has an SRP to implement for most of our commodities and basic needs. They can subsidize those products that are increasing and like non stop price hikes that's happen.

They can apply this and work on it for the fuel prices. Oil products have been the worst in terms of price hikes because it has non stoply increasing and if it's going to roll back, they're lesser than what has been the increased price.

And the sad thing about this is that you can't do what OP is suggesting and to ask for a bargain price, it doesn't go like that for products like oil or petroleum.

It will be one of the ways to make someone's living go up. But to be whole dependent to bitcoin for your entire economy to get up, it won't be enough.

Bitcoin won't be the only thing that will help to resolve that. If we're talking about an economic crisis then it's going to be composed of many sectors that has to help each other.

But that's a good thought that you have as it means you're really believing on it so we does. But, we have to embrace the reality that it's just not enough.

Be also wise in choosing what you will buy during this bear market. It's not a promise that almost everything will be up when the bull run market comes again.

It doesn't go like that because there could be newbies that have that mindset into thinking that they'll earn as much as they can during the bull run but, it will depend on what they hold.

Be wise at this time and it should really be the shopping spree time but with the right choice of cryptos that you should have.

HODL is the key, it is!

While there might be people who have the mission to search for someone who has been holding and never sold any of it until now, well, the search is over and they found you.

I agree that just HODL and you'll still have it back eventually as the market will be settled once again and everything is going to recover. We're not at the top at all times but the same motivation goes for moments like this.

Everyone can make a mistake unexpectedly and there are just too many factors that can affect us with that. Like this Binance/FTX matter, all it's like it doesn't really matter at all.

But now that it had made the market in total bloodness and madness, this is how we understand that no matter how prepared we are, educated we are and good at following these advises.

No one can really skip when it's the entire market that's being wiped out.

The market showed how it's very affected by this. We're down and saw a new bottom for bitcoin and this is now opening the idea that it could have another bottom.

The exchange itself is the problem and that's FTX.

Their liquidity is being controlled and that's not looking good on their side and very likely that it'll take time for them to be trusted again by most retail traders and investors.