FTX drama stressing people for no reason | How to stay neutral

[Daltonik]

Of course, Sam Bankman Fried definitely deserved to be punished for the unauthorized use of funds entrusted to him by clients, with which he bought up falling companies and does not play a role for what purposes he did it all. Tens of thousands of people who lost because of his actions also want to see him in the dock, by the way, he could face a sentence of up to 20 years in prison and he was refused bail for $250,000.

https://www.reuters.com/legal/bankman-fried-appear-bahamas-court-us-unveil-charges-2022-12-13/

[TimeTeller]

and in the end he was arrested too, after several weeks of still enjoying the free air without feeling guilty. The FTX victims are of course happy with the news of SBF's arrest, and they will also demand compensation, but whether they can still return or not is still a matter for the authorities.
people who have lost money because of FTX become stressed and until someone is desperate to commit suicide because they experience bankruptcy and lose all their assets. We hope that several related perpetrators must also be caught and given appropriate punishment and fines.

A new chapter will begin, we have just seen Sam Bankman Fried arrested, for sure at every trial he will continue to sing who will be involved in the incident. In fact, I think all of the employees working under Ftx will be investigated and also the outgoing flow of funds will definitely be a meeting point in the future. we are just waiting for this case to come to an end where it will be seen a certainty of clarity from the beginning of the incident that occurred on Ftx. indeed, if you remember, this case is very regrettable that it could have happened so quickly after terra luna because Ftx is the second largest exchange after Binance but sam bankman has done ridiculous things behind the scenes which have made all of his customers suffer losses.

this is the link posted by saylor on social media twitter i think sam bankman went through a lot of ridiculous roads before he really fell https://www.axios.com/2022/12/09/bankman-fried-funded-crypto-news-site-block?utm_source=twitter&utm_campaign=editorial&utm_medium=social

He invested in the wrong companies or should I say not profitable ones.
Maybe if those companies earned huge profits, he won't be on this situation.
Because he can return the assets what he had used. But the problem was he used money that was not his.
Good to see if SBF will go to jail, but will his customers get something back from those funds that were lost?

[panganib999]

Recently I have been seeing a lot of people who are key crypto players for the past few years, backing away from cryptocurrency & mining. I have a few bitcoins, but I have never trusted any exchange. I have bought BTC from people only and currently, it is in my own hands [technically speaking]. I get the whole FTX issue, but if you really are into Bitcoin & crypto, then why haven't you kept your exchange wallets in check? I personally almost never used exchanges. P2P is what bitcoin is really about.

People lost millions, now many key players are backing off. No comments on that as it is a personal choice, yet spreading negativity on youtube & Twitter about the same is pointless. If you have lost something, then somewhere it is also your responsibility. FTX is responsible for cheating people, but people now making videos about why everyone should back off from crypto is not right & is spreading unnecessary chaos in the market. I am not an expert, but this is simply stupid.

There are a lot of channels[pretty big] that praised Bitcoin & mining now backslashing it & people are really getting carried away with this. Bitcoin to the market is just an emotional asset, however, there is more to it but only if people try to see it. Do not get carried away. Think wisely & use proper data.

Most of the NEWS is fake & is a decoy from the government to get people out of Bitcoin.

People who have lost money in this crash will inevitably face stress and depression. They just lost money, they can't help it. People who spread FUD and hate against cryptocurrency because of issues like these surfacing in the mainstream media could be controlled however, be made to realize that bitcoin isn't all scams and taking advantage of poor average joes all for the benefit of a single person. It's a good thing that for one, SBF is already arrested and is projected to face consequences for actions he committed that led to the demise of this massive exchange. So the future is looking a little bright than what people would expect.

[South Park]

People who have lost money in this crash will inevitably face stress and depression. They just lost money, they can't help it. People who spread FUD and hate against cryptocurrency because of issues like these surfacing in the mainstream media could be controlled however, be made to realize that bitcoin isn't all scams and taking advantage of poor average joes all for the benefit of a single person. It's a good thing that for one, SBF is already arrested and is projected to face consequences for actions he committed that led to the demise of this massive exchange. So the future is looking a little bright than what people would expect.

Unfortunately this is a stain in the reputation of this market that is not going to be easy to erase, while the collapse of Mt Gox was bigger in terms of the coins that were lost and at the time it was way more influential than the FTX exchange, at the same time this market is way more popular now and the losses in terms of fiat are bigger as well, so it would not surprise me if this single event was enough to scare a lot of people away from this market and as such delay the appearance of a new bull market.

[Kelvinid]

Of course, Sam Bankman Fried definitely deserved to be punished for the unauthorized use of funds entrusted to him by clients, with which he bought up falling companies and does not play a role for what purposes he did it all. Tens of thousands of people who lost because of his actions also want to see him in the dock, by the way, he could face a sentence of up to 20 years in prison and he was refused bail for $250,000.

https://www.reuters.com/legal/bankman-fried-appear-bahamas-court-us-unveil-charges-2022-12-13/

Then I hope this could give some peace of mind to the investors and start a new beginning. This is what we could the risks of investing and storing our money in exchanges, they became an example and got punished as they deserved for it. Unfortunately, together with his arrest we also lose hope that our money will be back. His unbearable and incapable management brings doubts and ruins the whole crypto market, this could be enough and put him as an example that no one will escape from the law.

[Lanatsa]

People who have lost money in this crash will inevitably face stress and depression. They just lost money, they can't help it. People who spread FUD and hate against cryptocurrency because of issues like these surfacing in the mainstream media could be controlled however, be made to realize that bitcoin isn't all scams and taking advantage of poor average joes all for the benefit of a single person. It's a good thing that for one, SBF is already arrested and is projected to face consequences for actions he committed that led to the demise of this massive exchange. So the future is looking a little bright than what people would expect.

Unfortunately this is a stain in the reputation of this market that is not going to be easy to erase, while the collapse of Mt Gox was bigger in terms of the coins that were lost and at the time it was way more influential than the FTX exchange, at the same time this market is way more popular now and the losses in terms of fiat are bigger as well, so it would not surprise me if this single event was enough to scare a lot of people away from this market and as such delay the appearance of a new bull market.

Its part of the history which it isnt really something that could really be deleted or forgotten which you are right on what you have said because it is something that cant really be easily not to look back.

You cant really make people avoid not to get stressed on times like this specially it does really affect market overall confidence and trust which would really put some hinder in overall recognition and acceptance

in cryptocurrency in overall due into these kind of situation and circumstances.This is why i cant really blame out people not to get stressed anytime they would be seeing
these declines due to this unfortunate events that do happen on this market.

[lalabotax]

FTX drama stressing people for no reason | How to stay neutral....
...
People lost millions, now many key players are backing off.

I'm sure their anxiety and stress levels were very high when it came to yesterday's FTX problem. Because, because of all that, lots of people immediately lose their money quickly, in a very fast time. They were frustrated and felt they couldn't believe it because the number 2 exchange in the world finally failed and crashed in just a matter of hours. The crypto world is sometimes cruel. That's why we can't blame what happened to them.

People lost millions, now many key players are backing off. No comments on that as it is a personal choice, yet spreading negativity on youtube & Twitter about the same is pointless.

But exactly, this is nonsense by spreading FUD and negativity of Bitcoin and crypto as what happened to them. They may use this chance to make people aware that crypto is risky, to be more careful, and do some strategy to face this similar condition in the future. But, they don't need to spread any FUD again. Although we have been usual with the FUD, in fact, the FUD will be always influencing the crypto market as always. 

[landheer]

indeed lately many people have withdrawn from crypto, because they are tired of always  losses when investing in crypto. and as a result of the collapse of ftx, not a few people lost and that must have caused deep trauma, especially if our invest with large capital, our heart and feelings will surely be even more tormented. and I personally due to the collapse of ftx I suffered a loss of 70% of my assets.
but I will not give up on investing in crypto. and the experience that I have made me believe that only bitcoin is right to be used as an investment vehicle.

[Yaunfitda]

indeed lately many people have withdrawn from crypto, because they are tired of always  losses when investing in crypto. and as a result of the collapse of ftx, not a few people lost and that must have caused deep trauma, especially if our invest with large capital, our heart and feelings will surely be even more tormented. and I personally due to the collapse of ftx I suffered a loss of 70% of my assets.
but I will not give up on investing in crypto. and the experience that I have made me believe that only bitcoin is right to be used as an investment vehicle.

Not always though, maybe majority was really duped by SBF in this case as the unsealed documents really points to him as the reason why it failed and collapse.

Yes, not just because we have lost money here doesn't mean we should give up. Maybe we should learn from our mistakes and not to repeat it again. As for the stress, it's natural reaction, but who should remain optimistic that somehow we can bounce back specially in the next bull run.

[crashedanon]

Sam is arrested, but that doesn't change the fact, the money is gone & not coming back. It is pointless to wait for him to end up in jail, then what? There needs to be awareness among people, now that the money is gone, it was their fault to be trusting a so-called entrepreneur. It is time to change the whole perspective about trusting centralized exchanges. The whole point of CryptoCurrency when introduced by satoshi was of * trustless & p2p *. It is kind of a task, it will take time.

Sooner or later many more of such exchanges might collapse for some other/similar reason.

[Crypt0Gore]

Something is not adding up, Kevin O. Leary who also lost millions on the FTX crash is now after Binance CEO saying that CZ is responsible for the FTX fate, like CZ did it intentional and if CZ was silent the whole thing would have go on and become a success? I am quite lost with this man aim right now.

I think Kevin O. Leary is responsible for the Binance massive FUD withdrawal that took place days ago, he really wants to hurt Binance exchange by all means. 

[Aanuoluwatofunmi]

Most of the NEWS is fake & is a decoy from the government to get people out of Bitcoin.

No amount of counter campaign can be raised against bitcoin by anybody since bitcoin is independent of anyone as well regardless of country which is why we all benefits the decentralization it offers, in making research, you don't have to limit the extent your how far you can go in making research, there are alot of factors that can discourage or deviate your search and interest on bitcoin, such from government counter campaign against bitcoin, altcoins distractions, ponzi schemes allegations among many other things you could cone across with online that actually talks opposite about bitcoin, but learning is as good as taking it from many sources and looking deep into the past records it has over years, you may also need someone to testify and encourage base on experience in dealing with bitcoin.

[maydna]

indeed lately many people have withdrawn from crypto, because they are tired of always  losses when investing in crypto. and as a result of the collapse of ftx, not a few people lost and that must have caused deep trauma, especially if our invest with large capital, our heart and feelings will surely be even more tormented. and I personally due to the collapse of ftx I suffered a loss of 70% of my assets.
but I will not give up on investing in crypto. and the experience that I have made me believe that only bitcoin is right to be used as an investment vehicle.

Perhaps, they are too afraid of lots of negative news attacking crypto that they want to withdraw from crypto immediately. But there are still people holding on to investing more in crypto because they feel it is the right time to buy more. You are not alone because I'm sure many people have also experienced losses as you have, but we must not give up because there will come a time when crypto will rise again and provide us with big profits. We'll have to survive while collecting more and more if we still have money. But if not, we don't need to force ourselves to invest, we just have to wait.

[TheGreatPython]

Of course, Sam Bankman Fried definitely deserved to be punished for the unauthorized use of funds entrusted to him by clients, with which he bought up falling companies and does not play a role for what purposes he did it all. Tens of thousands of people who lost because of his actions also want to see him in the dock, by the way, he could face a sentence of up to 20 years in prison and he was refused bail for $250,000.

https://www.reuters.com/legal/bankman-fried-appear-bahamas-court-us-unveil-charges-2022-12-13/

Then I hope this could give some peace of mind to the investors and start a new beginning. This is what we could the risks of investing and storing our money in exchanges, they became an example and got punished as they deserved for it. Unfortunately, together with his arrest we also lose hope that our money will be back. His unbearable and incapable management brings doubts and ruins the whole crypto market, this could be enough and put him as an example that no one will escape from the law.

That is for sure but there will be some who will overthink and think that SBF is having a good time inside the prison. I mean he may be treated like a king there, where he have access to gadgets, internet, good food and others like what we mostly see in the real world.

This have happened on some prisons/prisoners before and this practice might still be ongoing. SBF is not with us now but maybe he have a team which he can order to pay back his old customers. There was also a rumour that they will create a new token. I think this serves as a compensation for those who lost their money. If all fails then I guess, that's going to be the time to move on.

[crunck]

indeed lately many people have withdrawn from crypto, because they are tired of always  losses when investing in crypto. and as a result of the collapse of ftx, not a few people lost and that must have caused deep trauma, especially if our invest with large capital, our heart and feelings will surely be even more tormented. and I personally due to the collapse of ftx I suffered a loss of 70% of my assets.
but I will not give up on investing in crypto. and the experience that I have made me believe that only bitcoin is right to be used as an investment vehicle.

If you want high returns then you have to take high risks, nothing is easy and free in this world. Those who cannot withstand large losses should leave the market as soon as possible. In a game where there are winners and losers, you can't expect everyone to win. Those who stay at the end are the ones who deserve the reward.

[xSkylarx]

indeed lately many people have withdrawn from crypto, because they are tired of always  losses when investing in crypto. and as a result of the collapse of ftx, not a few people lost and that must have caused deep trauma, especially if our invest with large capital, our heart and feelings will surely be even more tormented. and I personally due to the collapse of ftx I suffered a loss of 70% of my assets.
but I will not give up on investing in crypto. and the experience that I have made me believe that only bitcoin is right to be used as an investment vehicle.

If you want high returns then you have to take high risks, nothing is easy and free in this world. Those who cannot withstand large losses should leave the market as soon as possible. In a game where there are winners and losers, you can't expect everyone to win. Those who stay at the end are the ones who deserve the reward.

We need to be strong. Those who want to take risk then let them take the risk since with that you can learn and also earn. As I've always saying , how can you be rich or gain huge money if you stays on your comfort zone, not taking any risk at all. But it doesnt mean that we need to lose big , this is where risk management comes and also knowledge on how to lessen the risk, risking your money alone is not enough you should have strong knowledge on what you are investing to.

[pawanjain]

Recently I have been seeing a lot of people who are key crypto players for the past few years, backing away from cryptocurrency & mining. I have a few bitcoins, but I have never trusted any exchange. I have bought BTC from people only and currently, it is in my own hands [technically speaking]. I get the whole FTX issue, but if you really are into Bitcoin & crypto, then why haven't you kept your exchange wallets in check? I personally almost never used exchanges. P2P is what bitcoin is really about.

People lost millions, now many key players are backing off. No comments on that as it is a personal choice, yet spreading negativity on youtube & Twitter about the same is pointless. If you have lost something, then somewhere it is also your responsibility. FTX is responsible for cheating people, but people now making videos about why everyone should back off from crypto is not right & is spreading unnecessary chaos in the market. I am not an expert, but this is simply stupid.

There are a lot of channels[pretty big] that praised Bitcoin & mining now backslashing it & people are really getting carried away with this. Bitcoin to the market is just an emotional asset, however, there is more to it but only if people try to see it. Do not get carried away. Think wisely & use proper data.

Most of the NEWS is fake & is a decoy from the government to get people out of Bitcoin.

I think you must be an old timer because only one of those can be so calm and composed during a crisis like this.
Even I am not so stresses about the FTX collapse but I do wish that the impact of it is over soon because there is a lot of collateral damage.
The FTX collapse has awakened many people who kept their coins on an exchange. People were taking exchanges for granted which is why they are paying the price for it.
Although this shouldn't have happened but somewhere it is their mistake as well. They say "not your keys not your coins" for a reason and this is a wake up call for everyone.

[Cookdata]

What contributed to the Youtube negativity was that the majority of them were all affected and I think the fight was between the Influencers and retailers due to some altcoins SBF invested in and the ones they bought and left on the exchanges, what even makes it worse is that most of the Twitter and Youtube influencers got affected because there life savings where wipe away from their balance in the FTX exit exchange, remember FTX got them with huge bonuses and they all felt for it
They were busy shilling for the FTX exchange, they keep pilling up the bonus but greed didn't allow them to withdraw them and when the exchange becomes insolvent overnight, they all became sleepless with the bear market. One bitcoin remains one, all this market winter doesn't change the narrative of bitcoin.

[fennic]

There are many reasons behind people are just panicking because news is a thing that makes people fear and the start to panic and than the go for sale orders. In this way they are able to crash market. SBF arrest is a big concern cause he was a big celebrity and his exchange was among one of the popular exchanges too. That makes people more fear cause they do not have to trust anyone.
FTX attracted many big investors loosing billions of dollars and that was not good.

[ginsan]

There are many reasons behind people are just panicking because news is a thing that makes people fear and the start to panic and than the go for sale orders. In this way they are able to crash market. SBF arrest is a big concern cause he was a big celebrity and his exchange was among one of the popular exchanges too. That makes people more fear cause they do not have to trust anyone.
FTX attracted many big investors loosing billions of dollars and that was not good.

Some of them have lost their savings due to the FTX incident. The market has not fully recovered from this case because if you monitor the market movement, it will slowly strengthen and then fall again. We will continue to see news about ftx and fud circulating quite loudly out there especially recently that binance has been attacked by fud hard enough that it continues to haunt weak hands in situations like this. The crypto industry is constantly being attacked by fuds because they keep frying negative news for reloading.

as op said, market participants will continue to be worried if they still trust third parties for their assets and one of the positive options may be that the situation will change completely if they do not trust third parties for their assets.