Can FTX Token Beat Its All-time High Of $100?

[Scripture]

No idea if you guys were paying attention but there is a huge fued going on with FTX and Binance. Basically some insolvency rumors and Binance dumping their FTT token coin.

We came close to breaking the yearly low earlier with that CZ tweet. It seems people are upset about SBF trying to make Defi illegal and many are out to get him. No idea how this will unfold. Many people leaving FTX now.

Noted, this is why I always say that even the biggest project in the crypto space can face any demise, crypto investment is high risk and this is one of the reasons why, low cap coins are higher risk but even top 10-30 altcoins can go down too, Bitcoin still feels like the only thing built differently.

Binance will slowly liquidate their holdings with FTX though as per them it will happen little by little since they have a huge amount of holdings and dumping it instantly might violate their agreement and might ruin the FTX project because of too much dump. This is a possible scenario if you allow your competitor to invest with you, Binance are very aggressive and wise when it comes to their decision, CZ saw the thread and this might be the reason why. FTX token will be at the risk of slowly dumping.

[adaseb]

Right now there is the battle of $22.

Seems that there is dumping on Binance and there is buying on FTX.

Caroline from Alameda offered to buy all Binance's FTT at $22 and seems there is a huge battle going on right now. If you track CVD you can see that on Binance there is nothing but market sells and on FTX there is nothing but market buys.

Price completely side ways its crazy. And a few mins ago, tons more FTT was deposited into Binance to market sell.

[sana54210]

FTT price was swinging from $21.09 to $32.51 subsequent to contacting the help level of $18.08-$22.50. Returning quickly from the help level, FTT is presently going sideways on the lookout and is supposed to return bullish soon.
In the meantime, our drawn-out FTT price prediction for 2022 is bullish since it can't break the help level. We can anticipate that FTT should reach $50 this year.

I don't know if after all these discussion will it recover to a great price or not. I mean these are the things that create chaos for most projects and then it becomes very hard to recover from them. I am not saying that it will be impossible, but it sure will be very tough to handle.

As far as CMC goes, it says 85 bucks as the ATH and right now its around 20 bucks give or take, could it go x4? Sure it could, could go x10 if there is a huge bull run in the crypto world as well, because that's what alts do when there is a big bull run. However, I am not entirely sure if it will be easy, it would probably take a bit of time for it to reach those levels, and not anytime soon.

[livingfree]

Caroline from Alameda offered to buy all Binance's FTT at $22 and seems there is a huge battle going on right now. If you track CVD you can see that on Binance there is nothing but market sells and on FTX there is nothing but market buys.

Is there now an ongoing negotiations about this cooperation and offer that Caroline has asked to CZ? I guess that the plummet that we've seen today is caused by FTT fiasco.

It's scaring most of its investors and they're mostly thinking that this could end up to a Luna 2.0 version incident.

But what's the real scary is that this is an scheduled dump which is known for most in the market and everyone has to make their own reactions through those trade orders.

[CryptoYar]

[...] they build a new blockchain that is more efficient and effective like Binance did.

I used to think in the same way that they might launch their blockchain in the future. But now it's under the attack of CZ. let's see if they'll come out of it or they'll end up like luna.

Is there now an ongoing negotiations about this cooperation and offer that Caroline has asked to CZ? [...]

CZ refused to sell his tokens in OTC market.

Binance CEO Changpeng Zhao (CZ) isn’t interested in selling his company’s FTX Tokens in an OTC deal with Alameda.

“I think we will stay in the free market,” he said

https://decrypt.co/113788/binance-ceo-declines-alamedas-bid-to-buy-his-companys-ftx-tokens

[real_newguy05]

lol all this caused by coindesk, started as some bullsht clickbait article - hi slow news day so lets see...we think alameda is holding lots ftt tokens...just saying. --> market total panic:  oh sht! fuk!! if ftt price drops then alameda is fked with margin calls, and yeah ftx is the lender to alameda so it's fked too, just pulling all this predictions out of my ass --> panic panic, sell ftt and cause price drop to self fulfill its prediction --> binance: haha let me pour some gas on fire, we will sell all ftt too ->  PANIC PANIC, ftt price crashes -->  FTX/alameda:  wtf just happened,  oh you fking idiots just created a run out of thin air...fk now we are really in trouble.... fuckkkkk

that's pretty much the summary, gotta love crypto.

[livingfree]

Is there now an ongoing negotiations about this cooperation and offer that Caroline has asked to CZ? [...]

CZ refused to sell his tokens in OTC market.

Binance CEO Changpeng Zhao (CZ) isn’t interested in selling his company’s FTX Tokens in an OTC deal with Alameda.

“I think we will stay in the free market,” he said

https://decrypt.co/113788/binance-ceo-declines-alamedas-bid-to-buy-his-companys-ftx-tokens

Is that so? I've seen a new update regarding this.

Yeah, there's certainly that has a negotiation that has happened and what a surprising turn of event. FTX is about to be taken over by Binance and both of its owner, CZ and SBF had deal with an agreement.

He said he wants to grow the market with other players but it can't be removed to the minds of everyone that this is just pure business and manipulation of the market.

[fuguebtc]

No idea if you guys were paying attention but there is a huge fued going on with FTX and Binance. Basically some insolvency rumors and Binance dumping their FTT token coin.

We came close to breaking the yearly low earlier with that CZ tweet. It seems people are upset about SBF trying to make Defi illegal and many are out to get him. No idea how this will unfold. Many people leaving FTX now.

Noted, this is why I always say that even the biggest project in the crypto space can face any demise, crypto investment is high risk and this is one of the reasons why, low cap coins are higher risk but even top 10-30 altcoins can go down too, Bitcoin still feels like the only thing built differently.

Long-time investors are aware of that, it's no surprise that a top altcoin will die or crash during bear season. The surprise here is that FTT is owned by Alameda research, one of the top VCs, and is the token of the world's 2nd largest exchange FTX. Yesterday I had to sell all my FTT even though I expected it to compete with BNB and my target is $100/FTT, CZ has officially spoken and I trust CZ more than Sam. I'm lucky I didn't fall victim to Luna and I don't want to risk it this time either. I also regret selling all the FTT tokens but it's always a risky investment. If FTX does indeed default, it will be as devastating as Luna did.

I didn't think it was very serious until I saw thier tweets. I think FTX side already offered to buy all CZ's FTT at $22. They wouldn't have a problem finding funds from someone to take the FTT from CZ. But of course, these are all stunts from FTX also. The exchange could be in trouble but I think the US government can find FTX a good asset in crypto.

Another dump like LUNA is the last thing we need this time when we are about to see the recovery of the market.

Luck came to me, I sold out of FTT for $19, I have a loss but not much if I continue to believe in FTT I would have lost a huge amount of money today. It's true that anything can happen in crypto, after the announcement that CZ would take over FTX and the price of FTT also went up but less than 5 hours later, things took a turn for the worse. A lot of people lost their money and worse, the FTX blocked withdrawals.

[Lagduf]

lol all this caused by coindesk, started as some bullsht clickbait article - hi slow news day so lets see...we think alameda is holding lots ftt tokens...just saying. --> market total panic:  oh sht! fuk!! if ftt price drops then alameda is fked with margin calls, and yeah ftx is the lender to alameda so it's fked too, just pulling all this predictions out of my ass --> panic panic, sell ftt and cause price drop to self fulfill its prediction --> binance: haha let me pour some gas on fire, we will sell all ftt too ->  PANIC PANIC, ftt price crashes -->  FTX/alameda:  wtf just happened,  oh you fking idiots just created a run out of thin air...fk now we are really in trouble.... fuckkkkk

that's pretty much the summary, gotta love crypto.

But coindesk was also telling the truth about that, we will not even know the fact if coindest was not even calling for click bait for people to did some deeply research about that. The main problem is also FTX has been using its customer funds to did invest in anything.
I can't even remember how many projects being invested by alameda and this VC is the most active VC. it's pretty much the same like 3AC which already collapse.
Alamda may become the new VC that will collapse very soon. Alameda is trying to liquidate all of its current holding now. Any project being cooperated with alameda was also facing serious problem.
Solana will be facing a big problem caused by there will very big amounts of sol will be dumped probably by alameda. People are in protests to get their money as soon as possible.

[maydna]

If FTT can go down to $1-$2, maybe I will consider buying FTT, but if not, I think I'll also buy it to have some FTT coins and not think if the price can reach $50 this year. $50 will be a difficult target because the decline in FTT prices will continue under these conditions. If you want to buy FTT, maybe you should be patient and wait for the price to drop to $3. But the risk remains with you if FTT somehow disappears from the market. But I also don't know what will happen to the FTT exchange. So you need to think twice about buying FTT. Meanwhile, the FTT price is already at $4.27, which is already down about 71% based on CMC.

[Rana590]

If FTT can go down to $1-$2, maybe I will consider buying FTT, but if not, I think I'll also buy it to have some FTT coins and not think if the price can reach $50 this year. $50 will be a difficult target because the decline in FTT prices will continue under these conditions. If you want to buy FTT, maybe you should be patient and wait for the price to drop to $3. But the risk remains with you if FTT somehow disappears from the market. But I also don't know what will happen to the FTT exchange. So you need to think twice about buying FTT. Meanwhile, the FTT price is already at $4.27, which is already down about 71% based on CMC.

I think investment on FTT is so risky at this time. If we see this a condition we faced some days ago for LUNA. I'm not saying that it will happen surely but there is a big chance to lose our valuable money here. It is so volatile at this stage and that's why we should avoid it. Besides, if you have enough money then you can buy some and hold strongly for future.

[sana54210]

CZ refused to sell his tokens in OTC market.

Binance CEO Changpeng Zhao (CZ) isn’t interested in selling his company’s FTX Tokens in an OTC deal with Alameda.

“I think we will stay in the free market,” he said

https://decrypt.co/113788/binance-ceo-declines-alamedas-bid-to-buy-his-companys-ftx-tokens

That "free market" situation is literally because they want to crash it, nothing more. If someone offers you at $22 a piece for ALL your coins, and you instead go with the one that will crash the market if you sell it all, then you picked the one where you make a loss.

But he is right, because while he would make a loss (well binance would) that means FTX would do worse as well. And that is all they want, FTX to do worse, they are an exchange and so is Binance so making another exchange go down as a competition is something they would love to do. Why not destroy another exchange if you have the power to do that? It is only a good business deal for them, and it would bring them more customers.

[OgNasty]

I just hope we don't see another Luna type situation here.  Sam seems too smart for that, but you never know...

Well, now we know...  Sam was playing leverage games with customer funds and now we all lose...  Amazing how with a net worth of over 15 billion dollars and running one of the largest crypto exchanges in the world, Sam still felt it wasn't enough.  He still felt he had to play leverage games with customer funds to try and be worth hundreds of billions of dollars.  When you see him talk about how he's going to give away all his money and how he's making all these political donations, it seems almost impossible that at the same time he'd be gambling with customer funds.  There was no reason other than greed, and it's a shame that regulations aren't in place to stop that sort of gambling.  Now I wonder if Sam is going to be criminally liable for what he's done.

[ScamViruS]

FTT is FTX's local token, presented on May 8, 2019. FTX was established by the absolute biggest crypto brokers as of late who were discontent with major crypto prospects markets.

FTX Token (FTT) Price Prediction 2022

FTT price was swinging from $21.09 to $32.51 subsequent to contacting the help level of $18.08-$22.50. Returning quickly from the help level, FTT is presently going sideways on the lookout and is supposed to return bullish soon.
In the meantime, our drawn-out FTT price prediction for 2022 is bullish since it can't break the help level. We can anticipate that FTT should reach $50 this year.

Maybe going to Zero soon !!

Binance has backed out of a deal to acquire FTX. That means SAM has played a big game with customer's funds, victimizing innocent crypto traders whose funds are still stuck in FTX and who have lost money investing heavily in FTT tokens. This is another lesson for crypto investors to never trust any project blindly.



Source: https://twitter.com/binance/status/1590449161069268992?t=kAnPqU_FBxBhIeAzvG2dpQ&s=19

[real_newguy05]

The real issue is they are using their own tokens as collateral to get loans, just let that sink in for a minute how fucking crazy that is, the fact the risk management allowed this to happen is beyond comprehension, total clown show. All those fuckers need to goto jail. That’s why you never put money in those exchanges outside of US regulation regardless how fancy their marketing / cover is.

Using another example for those of you still don’t understand….imagine a large us bank like chase or citi stating they have 5 billion in asset/collateral, and used it to get loans from everyone/outside investors. But what it doesn’t tell anyone is those 5 billion “asset” is actually its own stock shares at current market value.  So if something happens to the bank, be it baseless rumor or anything, that cause its stock to drop, all of sudden its asset also just got reduced, which in turn will trigger margin calls and negative view of the company, which trigger further drop on its stock….see where this is going.  I work in finance for almost 20 years now and very closely with the risk team, was chatting with them today and they thought I was bullshitting, refuse to believe a bank much less an exchange this size are allowed / are doing this, until I showed the articles, totally stunned just unreal.

[Silberman]

FTT is FTX's local token, presented on May 8, 2019. FTX was established by the absolute biggest crypto brokers as of late who were discontent with major crypto prospects markets.

FTX Token (FTT) Price Prediction 2022

FTT price was swinging from $21.09 to $32.51 subsequent to contacting the help level of $18.08-$22.50. Returning quickly from the help level, FTT is presently going sideways on the lookout and is supposed to return bullish soon.
In the meantime, our drawn-out FTT price prediction for 2022 is bullish since it can't break the help level. We can anticipate that FTT should reach $50 this year.

Maybe going to Zero soon !!

Binance has backed out of a deal to acquire FTX. That means SAM has played a big game with customer's funds, victimizing innocent crypto traders whose funds are still stuck in FTX and who have lost money investing heavily in FTT tokens. This is another lesson for crypto investors to never trust any project blindly.

It is incredible how things can change so fast in the market of cryptocurrencies, one week ago when this thread was made the OP was wondering when the FTT token will reach a new all time high, now just one week later we are wondering if such a coin is going to hold any value at all during the next months, as now that binance has decided to stay away from this mess then I do not see how this token is going to be able to retain any value.

[onecall123]

After analyzing the financials, Binance is not buying FTX, so what can we expect from FTX token? For CZ, this has always been a power move, and the goal has never been to help the industry, but to obliterate competitors. Here, there has been an astounding amount of market manipulation. As long as FTX Token exists, there will be flooring. It's all about trust! Now is a shaky time for the crypto world. The crypto space will only suffer as a result of this. We will get to the other side.

[SquirrelJulietGarden]

After analyzing the financials, Binance is not buying FTX, so what can we expect from FTX token?

It's time to stay outside of the fiasco. The lesson from Terra is still new enough. Don't jump in if the fiasco has yet finished. It is not too late to jump in because after a fiasco ending, there are so many conditions must appear to result in good recoveries.

Jumping in too early will put you in high risk and catching a falling knife is not smart.

For CZ, this has always been a power move, and the goal has never been to help the industry, but to obliterate competitors. Here, there has been an astounding amount of market manipulation.

It is not a gift for CZ and Binance. They are very smart and worked carefully and smartly. Two bear markets did not kill them and it is a very good quality testing for them. They got two certifications from 2018 bear market and 2022 bear market.

As long as FTX Token exists, there will be flooring. It's all about trust! Now is a shaky time for the crypto world. The crypto space will only suffer as a result of this. We will get to the other side.

Trust is decreasing after fiascos of Terra and FTX. I did felt funny when people naively and automatically believe in Venture Capitals and big exchanges. They filter and choose new cryptocurrency projects that they believe are good and potential simply because there are big backers, VCs, exchanges behind.

[irhact]

Noted, this is why I always say that even the biggest project in the crypto space can face any demise, crypto investment is high risk and this is one of the reasons why, low cap coins are higher risk but even top 10-30 altcoins can go down too, Bitcoin still feels like the only thing built differently.

This projects that have crashed during this bear market are the cause of their own downfall. FTX crises didn't start today as they have been known to be fighting other exchanges especially Binance. The CEO has been secretly partnering with the US regulators to bring down Binance since Binance didn't have a strong ground in the US as they're heavily China funded (actually the China funding part was a rumor but since there's always some atom of truth in every rumor, we can't just look past such rumors).
Binance destroying FTX was the only logical thing to do as if SBF is left alone, he'll destroy Binance and all the industry has been able to achieve so far. It's quite unfortunate that a guy once love by the whole industry could turn out to be the foe of the same industry that gave him all the wealth he now has.

[blockman]

After analyzing the financials, Binance is not buying FTX, so what can we expect from FTX token? For CZ, this has always been a power move, and the goal has never been to help the industry, but to obliterate competitors. Here, there has been an astounding amount of market manipulation. As long as FTX Token exists, there will be flooring. It's all about trust!

Too quick for Binance/CZ to not pursue this acquisition. They've probably seen that it's on the verge of its death and no helping hand will be able to help it. As for the FTX token, it's going to drop more and will be dumped by most. While those that can't withdraw on their own platform, they'll just continue to trade it and play for the token until they are able and allow the withdrawal again.

Now is a shaky time for the crypto world. The crypto space will only suffer as a result of this. We will get to the other side.

We may result temporarily but this is totally fine to happen for the market to grow again for the next years. I guess we have got all enough sign that the market will do better next.