All Assets are seized for FTX... Its over!

[OgNasty]

I hope they start selling off assets soon. I want to use the Blockfolio app again that FTX purchased and changed the name of. Now it’s not working and I assume it’s because it was an FTX asset and has been confiscated. Would be great if Binance or any company with money stepped in and bought the app as it was the best portfolio tracking app available for crypto.

[AverageGlabella]

I hope they start selling off assets soon. I want to use the Blockfolio app again that FTX purchased and changed the name of. Now it’s not working and I assume it’s because it was an FTX asset and has been confiscated. Would be great if Binance or any company with money stepped in and bought the app as it was the best portfolio tracking app available for crypto.

Would they sell confiscated assets? I think not. I do not know about this 'Securities Commission' of the Bahamas but normally when this happens in other countries by the authorities they do not allow selling the assets after them being confiscated. Who would the money go to? Would it help with offering a compensation to the people that lost money on FTX?

[rdluffy]

And now the rumours are about Blockfi


Source: https://twitter.com/Cointelegraph/status/1592584274133536769

I think there will be more companies to fall due do FTX. CZ already said 4 or 5 companies can be insolvent.
If Blockfi falls, I think the prices will reflects again

[mk4]

And now the rumours are about Blockfi

https://i.ibb.co/gt4WrNk/twit.png
Source: https://twitter.com/Cointelegraph/status/1592584274133536769

I think there will be more companies to fall due do FTX. CZ already said 4 or 5 companies can be insolvent.
If Blockfi falls, I think the prices will reflects again

I think people are already convinced that Blockfi is insolvent so it probably reflected in the markets already. The question is — do they have some coins left outside of FTX to liquidate?

[EarnOnVictor]

FTX has disappointed everyone and mind you, this is worst than the time of Mt.Gox when crypto was still fighting for more adoptions. I believe they caused the panic and started the distortion thinking that they will get away with it. This is particularly as their headquarters is in Nassau in Bahamas where they believe regulation is much weaker than in the US, EU and others. But the country has proven itself now.

If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.

[Lubang Bawah]

FTX has officially registered bankruptcy in court, this certainly makes a big impact that will make the market difficult to recover, especially FUDS on social media that there will be cases like FTX which certainly makes investors panic and choose to leave cryptocurrencies.

[erk]

FTX has disappointed everyone and mind you, this is worst than the time of Mt.Gox when crypto was still fighting for more adoptions. I believe they caused the panic and started the distortion thinking that they will get away with it. This is particularly as their headquarters is in Nassau in Bahamas where they believe regulation is much weaker than in the US, EU and others. But the country has proven itself now.

If not for this shady plan, Binance would have bought it and everything would be silenced. But who would buy a problematic asset? All of their plans have backfired. More investigations should shock us more over time.

It's worse than Mt Gox, because FTX happened at a time when money is fleeing risky assets to the USD.
There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore.
So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so.

[justdimin]

It's worse than Mt Gox, because FTX happened at a time when money is fleeing risky assets to the USD.
There is a lot less money circulating than last year because of Fed rate hikes. Not so easy to borrow anymore.
So people that were sitting on the fence wondering if to cash out into USD, suddenly FTX headlines gave them a reason to do so.

It could never be worse than mt.gox, the initial "hack" for mt.gox was 400k bitcoins, can you imagine how big that is? Sure, wasn't as big at that time, but that money is still out there, I am sure some people must be tracking it, or maybe it’s not moving at all, but at the end of the day it’s not burned, it's "there", which means that we are talking about at least 5-6 billion dollars all stolen in a single move right there.

And at top prices, this was at a 20+ billion dollar deal, and yet because the price was low those days, it looked like a few dozen million dollars at most. I believe nothing in history of bitcoin world will be bigger than mt.gox ever.

[Mpamaegbu]

I hope they start selling off assets soon. I want to use the Blockfolio app again that FTX purchased and changed the name of. Now it’s not working and I assume it’s because it was an FTX asset and has been confiscated. Would be great if Binance or any company with money stepped in and bought the app as it was the best portfolio tracking app available for crypto.

I miss that Blockfolio turned FTX app too. I used it as a price tracking app for cryptos I watched. I quickly deleted mine during the wake of the FTX debacle as it wasn't opening and I read somewhere that any attempt to update it would be opening malware as a phisher had been introduced in the app that stole funds. For me, it's better I played safe than being sorry.

[South Park]

FTX has officially registered bankruptcy in court, this certainly makes a big impact that will make the market difficult to recover, especially FUDS on social media that there will be cases like FTX which certainly makes investors panic and choose to leave cryptocurrencies.

And this is the problem with bankruptcies like this one, investors which are suffering massive losses are not going to blame FTX specifically for their losses, instead they are going to think on this market as a whole as a scam, and for the investors that think like that they are never coming back no matter how big the next bull run could be or how fast the adoption grows, we have lost them and all of this is happening because of an individual that clearly never cared about this market at all.