When they relaunch it won’t be under SBF. It will be under a new management. I think if they relaunch it will run for a while and then eventually get sold off to some other exchange, maybe Binance or Coinbase will buy it.

The reason why is because the brand has value. Even non crypto people heard of FTX but they never heard of Gemini or Coinbase. Hence why the liquidators think it’s a wise idea to sell it.

Yes I am getting 2021 vibes about. Seeing Ethereum go up $100 in a manner of minutes it’s just crazy. Don’t think this is a stop hunt since the funding rate wasn’t even that high. In a few days we might find out some large player like Elon bought some ETH.

Normally when it breaks this hard it usually goes back down but it stayed up so far. And when is the last time we had a 5% candle in a 5M time frame. Seems the bull is back.

So how does it work for the ETH or BTC holders exactly. They pretty much had 0 BTC or ETH. So what happens when they are owed a creditor a certain crypto? I doubt they will buy it at the open market.

Most likely they will be credited the value when they filed for bankruptcy and get back in stablecoins. Which is bad since it was like $15K BTC and when they reopen BTC can be triple that but the user would only get the old value back.

Yes this is becoming similar to what happened in 2019. We hit a low in 2018 and then when we broke the resistance at $4.5K we rallied non stop to $14K pretty much. It started in April and ended in June or July. Basically tripped in price in a short order.

If we get something similar and end up at $50K next month then most likely it’s a repeat of 2019 and best to scale out. Seems like it might be an echo bubble which many are predicting. Same with stocks. They are also rallying like crazy but the world is still in trouble.

Well you need to realize that many crypto assets move more or less at the same time. You buy ETH and BTC against USD and there is a chance that both will go up or down by a similar percentage.

Same with buying alt coins. Very rarely do some go up while some go down. Most go the same way. Especially if it’s against a stablecoin.

Hence why the OP is right, you shouldn’t enter a whole bump of one direction trades like that because they will either all work or won’t.

Isn’t this the scam that was happening on Poloniex last year. It was the other way around however. Instead of some man scamming some women it was a women scamming some men.

Basically they met romantically somewhere and she tricked men into investing into cryptos. And I think she told them to use Poloniex. The exchange wasn’t scamming them but the women was. She just told them to use Poloniex as an exchange and somehow they ended up investing in some scam and that women was gone.

Been a while so I am loose on the details but fairly sure this is a similar story.

Does anyone know if Justin kept his promise and credited TRX tokens on his exchange swapped for TRX stuck on FTX?

Because after the news the price of TRX spiked to like $0.25 and the price on other exchanges was $0.05. Meaning if you had $100 stuck you had to overpay by 400%, so you pretty much had to take a 80% haircut. And there was maybe hundreds of millions of dollars of these TRX/HT/BT trades that took place.

So if the exchange restarts, the $100 which lost 80% of its value would only be worth $20. That is assuming TRX trades at 5 cents when it restarts, Justin has other issues going on right now which can cause the token to tank even more. Feel bad for those that took a 80% haircut instead of just waiting and getting perhaps a 20% haircut.

Most likely those that swapped to TRX lowered the exchanges liabilites however and made it easier to get solvent again. If $1B was shaved off the balance sheet because of these 80% haircuts then there is less assets needed to remain solvent. So I am wondering if those trades will be reversed or are those people at a loss?

Good news today from the FTX lawyers. They said that over $7.3B has been recovered and they are considering actually rebooting the exchange somewhere in the Q2.

FTT is rallying over 40% on this news, almost topping $2.

The only issue with this is that if assets such as SOL drop back down to <$10 then obviously they won't have $7.3B anymore. Since their largest holding is SOL with owning over 10% of the supply. Either way its a good win since many will get some of their assets back at least. Hopefully this wont be another MtGox which took over a decade.

There are a few different places. You can use Twitter even and just search for Airdrops and you can see which one is getting a lot of hype. Keep in mind you might run into scams so be careful.

Usually try and go with potentials airdrops if they had completed a few funding rounds and they have a high valuation. Then you know it’ll be worth doing since they had millions invested in the project.

Yes there are lots of these chains coming out because nobody wants to use ETH because transactions are expensive and nobody wants to use CEX because of what happened to FTX.

So Defi is definitely the future and hence why these chains are being developed. The issue is that they are rushed and have lots of bugs. Even a few days ago Sushi swap had a bug and over $3M was stolen. And it will get worse with these new chains and smart contracts if they are all badly coded and rushed for launched.

Keep in mind the airdrop is probably over a year away or so. It’s not coming anytime soon. Especially since Era was just launched.

Basically do the usual. Just bridge and use the network. And don’t create too many wallets, they will find that out and you won’t get any airdrops. So trade, lend and buy NFTs and you should get the air drop.

I think the reason why many struggle with finance is because they are burdened with debt at a young age and think it’s normal to always have debt.

Look how easy it is to get a credit card these days. After a few months of using a credit card they want to offer you a higher limit, just so they can make more money off you. And that’s how the cycle starts. Later it’s another credit card and maybe a car loan or Line of credit and you are pretty much trapped.

So he is finally back at break even. Very crazy how he started out with a good dollar average and then by buying high he put himself in a huge bad bag holding position for over a year. Very glade that he wasnt margin called below $20K like many said he would.

Now we just need to make sure he doesn’t start dumping. Due to the state of the economy he might be forced by his shareholders or management to lighten his load and scale out. If we see that during his earnings report then I’ll cause a sell off obviously.

Yes this week we get CPI and FOMC minutes. If we get sticky inflation we can head back down to below $30K and the stock market can go targeting 4000 SPX again.

The bond market changes its mind almost weekly. Now we got a rate hike priced in for May. Which is obviously not good for Bitcoin. And there are also bank earnings coming late this week and will be interesting to see what mess SVB has started.

Basically you need to use a different chain like Arbitrium or even something cheaper like Polygon. Polygon is a fraction of a cent for a regular transaction that can cost 20 cents on Arbitrium or like $5 on ETH.

So bridge to that chain and use it for your transactions. However keep in mind that bridging from ETH is never cheap. So if you are using a CEX just withdraw into that chain from the CEX instead of bridging. It’ll be much cheaper.

Defi will definitely gain more popularity in the near future. Especially since FTX caught many people off guard. So I think there will be more and more dex services coming out now since many don’t want to use CEX except for a fiat on and off ramp pretty much.

Regarding the tokens values keep in mind that most tokens are near lows now compared to the highs of the bull market. So just because the token is cheaper doesn’t mean the project is a failure. It’s not trading like a stock of a company where if it falls you think it’s about to go under.

Yeah I am surprised we got a big name that got hacked recently. I would of assumed since Sushi was out for a while that their code was foolproof but I guess not.

Hence why you need to be careful keeping any large amounts of funds with any of these services. If you are going to allow a contract to spend your tokens you should remove it and send to another wallet while you are not using it. If you use the L2 chains then it shouldn’t cost too much to move those tokens back and forth.

Seems lately we are getting many threads like this which is based on savings and interest rates. Sure some types of debt are bad. Like you are not suppose to get into debt by buying a MacBook when you can just buy some cheaper PC which will get you by just fine.

Other debt like a mortgage is fine since it’s typically appreciating asset unlike assets such as cars or computers. Credit card debt are the worse because they have the highest interest rate and they can get out of hand very quickly because it’s just so easy to spend all that credit you were given. Hence this is why financial literacy should be taught in schools because it’s getting out of hand lately.

I think decentralization to the masses matters more in developing countries and areas with corrupt governments. Basically it’s risky keeping your money there because they can print more and devalue it or they can get the banks to freeze your money. In North America that isn’t really an issue.

Hence that’s why many want to stay away from the centralization world and want something decentralized like Bitcoin and the new dex that we have right now. People don’t want to depend on a governing body for their safety when the times get tough.

Being in debt is the American Dream. And been that way for a while. Fueled with cheap money and near zero interest rates why are you surprised.

The latest generation has never learnt what a high interest rate environment means. Last time rates were high was 20 years ago and most back then we’re all going to remember. Now people got a little overboard with their debt such as housing debt and auto loans.