Who will win, FTX or BINANCE?

[blockman]

There's not much meaning in who wins. The most important thing is that the market is suffering badly at the moment and the people who suffer the most are the investors like us. The pain caused by Luna has not yet subsided, but now we are dragged into another pain by FTX.

We're all affected on this one and I agree that winners on this doesn't really matter because it's all in the expense of us, the investors. The market manipulation I can see clearly on this one and that has given them to purchase more bitcoins while they've successfully pulled the markets down.

I believe that after this incident, we will be under stricter control from the government and strict laws will be enacted soon, bad things are still waiting for us ahead.

They're already in the radar and that's why officials from different governments don't trust the market because it can moved by these events.

[abel1337]

So another top exchange are already owned by Binance? I think this is not good for crypto industry as manipulation on crypto market will be easily controlled by Binance since they have the largest liquidity among other exchanges. Market crashed hard today all my positions triggered my stop loss, I hope this will end soon, big chance to those who are waiting for a good entry this bear market, eventhought Binance already the winner I think crypto holders the the one whos suffering more from this crash, I hope you are all good.

Didn't saw a post which states that binance will buy ftx but binance own a big portion of ftt coin which was owned by ftx exchange and they are planning to sell it. Binance never own any exchange yet but what they acquired on the past is coinmarketcap. Even if they buy a certain exchange, I don't think they can manipulate the entire market easily because not all are going to sell their cryptos but the majority are only accumulating.

You guys shouldn't say that you will suffer for this because you choose to risk your money in here and even without these on going crypto wars, the cryptos are always possible to decrease. Let us not overreact shall we?

Binance signed a non-binding letter of intent to acquire FTX and they will obviously pursue it if they think it's feasible to still fix what's wrong with FTX. I believe that binance supported FTX before and FTX should be ready when these giants let go of their tokens. Well I believe market can possibly manipulated even if it's small it's still a manipulation. cz tweets obviously steered the community and the market which some believe cause the heave price dump.


Just this morning, Binance/CZ has made their decision in not acquiring FTX because of troubles that I believe out of their hands to solve and FTX being part of binance will surely put binance on a bad spot. Well we might see a continued crash on FTX just like we saw on LUNA.

[tbct_mt2]

Binance signed a non-binding letter of intent to acquire FTX and they will obviously pursue it if they think it's feasible to still fix what's wrong with FTX. I believe that binance supported FTX before and FTX should be ready when these giants let go of their tokens. Well I believe market can possibly manipulated even if it's small it's still a manipulation. cz tweets obviously steered the community and the market which some believe cause the heave price dump.

Shit happened!

It's unbelievable that a big exchange and a top token like $FTT can be crashed to the ground too easily like this. In bear market 2022, we have been witnessing and having rare chances to learn that top coins are not safe. From Terra $LUNA $UST to FTX exchange and their token $FTT, the lesson is very bloody.

Will $FTT drop to $1?

Just this morning, Binance/CZ has made their decision in not acquiring FTX because of troubles that I believe out of their hands to solve and FTX being part of binance will surely put binance on a bad spot. Well we might see a continued crash on FTX just like we saw on LUNA.

Binance and CZ are genius. They started it by a tweet and the token crashed very crazy. Will it become similar to Terra $LUNA, months later Binance and CZ will play their role as a savior for victims of the crash just like what they did (buy back and burn) for $LUNC (Terra Classic) community?

[ROSERTY]

This is the most exciting dramatic script I have seen in recent years, and their game has already begun.
And when CZ discovered something, he knew that the opportunity was coming, and publicly decided to sell the $2.1 billion FTT they held, CZ put the game created by SBF into a death spiral

[john1010]

No doubt, BINANCE is always on the winning trend, in my opinion, Binance CEO will not going to do things that can affect negatively on Binance, no person can destroy what he has built and that's what I've seen in Binance, they will stay and remain stronger even in this very turmoil situation of the market.

[Polkeins]

This is the most exciting dramatic script I have seen in recent years, and their game has already begun.
And when CZ discovered something, he knew that the opportunity was coming, and publicly decided to sell the $2.1 billion FTT they held, CZ put the game created by SBF into a death spiral

I do not think that CZ originally intended to destroy FTX, here, as in the perfect storm coincided with several conditions, most importantly the bear market and a very risky policy of FTX. Apparently initially CZ thought to buy FTX, but when he saw the hole in the company's balance sheet, he realized that there was essentially nothing to buy. Both the FTX and Sam are apparently bankrupt.

[BryaCull]

Binance has been the only survivor during the crashes days ago. There is no doubt that Binance has won. Well, I am not saying this based on theories or statistics but only offer a perspective: CZ, the leader of Binance. I have followed his tweet for a long time and he seems to be a responsible and pragmatic leader. He has been so responsive and down-to-earth to every issue that comes across. He is relentlessly doing his job and keeps update on twitter. Compared to a lot of industry leaders, he is outstanding and for this, I guess Binance won gracefully.

[hugeblack]

It seems that BINANCE, with days, will turn into a  big 5 company such as Facebook and Google, and try to swallow all the competitors, either through shorting, liquidity problems, or other ways to ensure that the platform is No. 1.

The person responsible first and foremost for the current problem is the mismanagement of Sam Bankman-Fried of platform, but BINANCE took advantage of the situation to eliminate the platform and therefore may do more with more platforms or at least intimidate them indirectly.

[Minecache]

I believe that after this incident, we will be under stricter control from the government and strict laws will be enacted soon, bad things are still waiting for us ahead.

They're already in the radar and that's why officials from different governments don't trust the market because it can moved by these events.

Everything happened so fast, just as I feared, that the government would make excuses to enter the market and would start to control us. Perhaps it was clear who would win, the government had enough reason to start controlling us. Once the government intervenes we will lose our freedom and one thing I fear more is they will stifle our development.
https://cryptoslate.com/secs-gensler-says-more-investor-protection-is-needed-after-ftx-fiasco/

This is the most exciting dramatic script I have seen in recent years, and their game has already begun.
And when CZ discovered something, he knew that the opportunity was coming, and publicly decided to sell the $2.1 billion FTT they held, CZ put the game created by SBF into a death spiral

I do not think that CZ originally intended to destroy FTX, here, as in the perfect storm coincided with several conditions, most importantly the bear market and a very risky policy of FTX. Apparently initially CZ thought to buy FTX, but when he saw the hole in the company's balance sheet, he realized that there was essentially nothing to buy. Both the FTX and Sam are apparently bankrupt.

From the very beginning when both claimed to have reached an agreement to purchase, I did not believe it to be true. If CZ buys FTX, he will definitely be sued for antitrust law. Binance is currently the leading exchange, owning more FTX will not help CZ expand the market faster, but it is better to eliminate a strong competitor.

[Polkeins]

I believe that after this incident, we will be under stricter control from the government and strict laws will be enacted soon, bad things are still waiting for us ahead.

They're already in the radar and that's why officials from different governments don't trust the market because it can moved by these events.

Everything happened so fast, just as I feared, that the government would make excuses to enter the market and would start to control us. Perhaps it was clear who would win, the government had enough reason to start controlling us. Once the government intervenes we will lose our freedom and one thing I fear more is they will stifle our development.
https://cryptoslate.com/secs-gensler-says-more-investor-protection-is-needed-after-ftx-fiasco/

This is the most exciting dramatic script I have seen in recent years, and their game has already begun.
And when CZ discovered something, he knew that the opportunity was coming, and publicly decided to sell the $2.1 billion FTT they held, CZ put the game created by SBF into a death spiral

I do not think that CZ originally intended to destroy FTX, here, as in the perfect storm coincided with several conditions, most importantly the bear market and a very risky policy of FTX. Apparently initially CZ thought to buy FTX, but when he saw the hole in the company's balance sheet, he realized that there was essentially nothing to buy. Both the FTX and Sam are apparently bankrupt.

From the very beginning when both claimed to have reached an agreement to purchase, I did not believe it to be true. If CZ buys FTX, he will definitely be sued for antitrust law. Binance is currently the leading exchange, owning more FTX will not help CZ expand the market faster, but it is better to eliminate a strong competitor.

Rumor has it that the head of FTX was sort of detained in Bermuda. I don't know if this is true or not, but apparently Sam is in big trouble.
So CZ wins without a doubt. He is at least free and Binance continues to work.
We do not know everything with FTX itself, what is it with liquidity, as if not to have to take it over later Binance, in order to prevent a complete bankruptcy.

[Mr. Magkaisa]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

  - If I am the one who will be asked between these two who will win, of course, we are already there with a lot of experience. agree because in my research many times it was reported that the exchange Binance was hacked but after these issues happened Binance passed it. Second, I saw a video on a social media platform that you only know exchange is strong if it has survived 2 bear markets.

I think there is a point in what I have seen because if I compare FTX to Binance, FTX is now facing a bear market, but this is what is happening to FTX, but the difference is that the owner of FTX is doing everything possible. to recover from this issue they faced in the market. I just hope there will be a thorough and proper investigation into this matter. As for those who believed in FTX to recovery.

[Reid]

Binance as always. It's not yet time for them to be down to number 2. I mean, look at CZ controlling the stage, just a mere tweet about selling all the FTT made the market react in an unexpected manner. A lot of investors thought that Bitcoin and altcoins will be stagnant until next year and yet it moved crazy by just a single tweet.
That's the power of being in the top of all the exchange.

[dwminer1]

Recent news says FTX has filed for bankruptcy in the US. This situation led to the resignation of President Sam Bankman-Fried.



You can see the press release on twitter: https://twitter.com/FTX_Official/status/1591071832823959552

I wonder if it will bring another sharp drop in the market, or people were already prepared for it.

[noormcs5]

Recent news says FTX has filed for bankruptcy in the US. This situation led to the resignation of President Sam Bankman-Fried.

You can see the press release on twitter: https://twitter.com/FTX_Official/status/1591071832823959552

I wonder if it will bring another sharp drop in the market, or people were already prepared for it.

People already knew it will happen but with every bad news the bitcoin price will fall again and again. Yesterday we had a pump of 1000$ in bitcoin price as a result of CPI data but today we again see a big dump and bitcoin is again 16500$. The market is too much volatile and every dump bring 10-30% altcoins crash. Not a good time to see the markets.

About the question whether who will win between FTX and Binance, it does not even matter because in the end, only the crypto adoption will suffer.

[albon]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

The CEO of Binance is of course the one who will acquire the FTX platform after its lack of liquidity, staying in the crypto for the strongest and the exchange platform that has billions in liquidity, Binance can beat all its competitors because it is one of the strongest and most popular exchange platforms in the crypto arena and has an expert team and first-class developers, now look at The price of the FTX platform token a year ago and its current price is about $2.70, investors are the victims and they will pay the price for the mistakes and inexperience of the exchange team. So I don't trust any exchange platforms other than Binance.

[BitDane]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

It looks like the answer is already known.  FTX already filed a bankruptcy while Binance is still staying strong.  Before that bankruptcy Binance somehow thinks to aid or buy the failing FTX  but due to some regulation issue, CZ back out which result of massive mess in FTX financing.  And about the FUD thing, I do not think CZ statement is FUD, CZ just stated the fact and the things he planned to do with his FTT holdings, now those who have malicious intent turned that statement into FUD.

[abel1337]

I don’t know who will win, but I just feel like if the CEO of the biggest crypto exchange fudds about competitors, we all gonna loose.

It looks like the answer is already known.  FTX already filed a bankruptcy while Binance is still staying strong.  Before that bankruptcy Binance somehow thinks to aid or buy the failing FTX  but due to some regulation issue, CZ back out which result of massive mess in FTX financing.  And about the FUD thing, I do not think CZ statement is FUD, CZ just stated the fact and the things he planned to do with his FTT holdings, now those who have malicious intent turned that statement into FUD.

CZ sure has an intention of saving FTX but yeah even if CZ doesn't want to spread FUD to the community, The community takes it as a FUD even CZ is just stating the facts and the result of his tweets steered the market. Everyone knows that CZ has a massive holdings and even if CZ sell it bit by bit it will affect the volume of FTT which I guess triggers the FTT holders to sell. FTX is a goner now and It will be put in the history along with LUNA. There's a small chance of FTX being recovered and their customers will surely not use FTX again if ever FTX survive their own catastrophe. 

[iv4n]

Binance as always. It's not yet time for them to be down to number 2. I mean, look at CZ controlling the stage, just a mere tweet about selling all the FTT made the market react in an unexpected manner. A lot of investors thought that Bitcoin and altcoins will be stagnant until next year and yet it moved crazy by just a single tweet.
That's the power of being in the top of all the exchange.

I'm not sure if he himself believed that these tweets would trigger such a big avalanche. It resonated so strongly that FTX had an abnormal outflow of capital, all projects went downhill... and now they are facing bankruptcy. At first, CZ offered to help, but as far as we can see, he has now changed course:

Binance is backing out of its plans to acquire FTX, the company said Wednesday.
“The issues are beyond our control or ability to help,” Binance said in a tweet.
FTX, which was valued at $32 billion earlier this year, is now in jeopardy of collapsing.

We will see in the next few days whether CZ is just playing and wants to buy all that even cheaper or he will let them down the drain. It really looks like that CZ controls the stage and he is playing the "mouse & cat" game.

[Polkeins]

Recent news says FTX has filed for bankruptcy in the US. This situation led to the resignation of President Sam Bankman-Fried.

You can see the press release on twitter: https://twitter.com/FTX_Official/status/1591071832823959552

I wonder if it will bring another sharp drop in the market, or people were already prepared for it.

People already knew it will happen but with every bad news the bitcoin price will fall again and again. Yesterday we had a pump of 1000$ in bitcoin price as a result of CPI data but today we again see a big dump and bitcoin is again 16500$. The market is too much volatile and every dump bring 10-30% altcoins crash. Not a good time to see the markets.

About the question whether who will win between FTX and Binance, it does not even matter because in the end, only the crypto adoption will suffer.

In fact, the market has not yet realized the extent of the disaster, otherwise instead of yesterday's growth, there would have been the expected fall. FTX liabilities exceed 8 billion, it is a big amount and there is nowhere to take it, so soon I think we should see bitcoin at 15,000 and lower. I think when everyone understands that the second crypto exchange in the world is going bankrupt, the fall will be very strong.

[Oneandpure]

It looks like the answer is already known.  FTX already filed a bankruptcy while Binance is still staying strong.  Before that bankruptcy Binance somehow thinks to aid or buy the failing FTX  but due to some regulation issue, CZ back out which result of massive mess in FTX financing.  And about the FUD thing, I do not think CZ statement is FUD, CZ just stated the fact and the things he planned to do with his FTT holdings, now those who have malicious intent turned that statement into FUD.

All user at FTX exchange can't withdraw their assets except with TRX or Tron network coin have different price between FTX and other global exchange market, seems way try manipulated by FTX exchange how to make their user not withdraw assets awhile. Already bankruptcy with FTX exchange and the owner announced resign from his company and not any progress yet what happen later with his position leaving and member fund there. I am lucky because have withdraw all my assets at FTX exchange before war happened between CZ and Sam, right now almost impossible can withdraw fund at FTX exchange and not any progress announcement yet when the user can withdraw their fund at FTX exchange account.