Will FTX make a comeback?

[virasog]

I was only saying this without expectations for this becoming a reality hehehe and agreed, it has ended very much worse than Mtgox. However, the negative effect on the price was not the same. I reckon Mtgox controlled much of the liquidity of bitcoin on 2013. There were only few who would catch the dump. The market of the cryptospace today is more complicated. We have Binance BUSD, Tether, Circle USDC all competing for liquidity.

MtGox was definitely worse because of the liquidity being on that single exchange like you said, but in the grand scheme of things FTX was far worse — in terms of industry reputation, potential regulations, etc.

No doubt MtGox event was bad for the market but at that time crypto was not so popular as it is now. The era of MTGox Scam and the era of FTX scam is totally different. At the current time, bitcoin and crypto are known by many people and people lost a lot of money in FTX and also saw their holding becoming zero who have invested in the FTT token.

In the grand scheme of things, I would consider the FTX event a major one for the bitcoin and crypto community.

Regarding the comeback of FTX, i am clear that even if they come and return everyone's money (0% chance of this), I would not trust this exchange anymore.

[1714948712]

1714948712

[1714948712]

1714948712

[1714948712]

1714948712

[1714948712]

1714948712

[1714948712]

1714948712

[1714948712]

1714948712

[Abiky]

It will be challenging for the FXT exchange to regain the confidence and support of its investors. After what their investors experienced in their hands, getting their funds rug pulled unexpectedly on their exchange.

FXT's attempt to reimburse investors who have lost money on their exchange is a welcome step toward clearing their name from the cryptocurrency blacklist, but it doesn't guarantee that they will once again be a reliable exchange. The actions they took will continue to echo in the minds of crypto investors.

It will take years for FXT exchange to pull through this without trying to rebrand its name and mechanism

FTX might decide to return as a decentralized exchange just to help bring back customers' trust. But I doubt it will have the same power as it did back then, especially when it brought so much negativism to the crypto/Blockchain space. Being a DEX alone will make it inferior to its competitors as it will have a lower trading volume/liquidity and degraded performance.

I'd say the odds of FTX making a comeback are very slim. It's best to leave things as is for the good of the industry. What happened with FTX will be remembered for as long as crypto lives. It's just Mt. Gox all over again. Who knows if Binance would be the next crypto exchange to collapse? Just my opinion

[virasog]

FTX might decide to return as a decentralized exchange just to help bring back customers' trust. But I doubt it will have the same power as it did back then, especially when it brought so much negativism to the crypto/Blockchain space. Being a DEX alone will make it inferior to its competitors as it will have a lower trading volume/liquidity and degraded performance.

FTX failed as a centralized exchange, do you think people will trust their decentralized exchnage?
If they ever decided to come up with a centralized exchange, t will be a big falure. Who will risk thier money for the second time when they scam with their exchange FTX.  

Who knows if Binance would be the next crypto exchange to collapse? Just my opinion

I don't know but i am sure every centralized exchange will scam one day.  Not at this time, but who knows the Binance scam may be the reason for the next bear market after the bull run in 2024.

[Abiky]

FTX failed as a centralized exchange, do you think people will trust their decentralized exchnage?
If they ever decided to come up with a centralized exchange, t will be a big falure. Who will risk thier money for the second time when they scam with their exchange FTX.  

It's very unlikely FTX will gain back people's trust after what it did last year. The company could decide to launch a decentralized exchange, but bearing the "FTX" name/brand wouldn't do any help. Maybe doing a rebranding will do the trick? Either way, I think FTX's efforts to help restore its reputation would be nothing but failure.

Let's all turn the page, and write a new story with crypto facing new ventures after the collapse of a major exchange. FTX would be nothing but history, just like Mt. Gox in the early days of crypto. As least, we know the revolution won't be going anywhere soon. Who knows if constant failures of centralized exchanges will lead us towards the rise of decentralized exchanges in the crypto/Blockchain space? Just my thoughts

[Crypto Library]

FTX failed as a centralized exchange, do you think people will trust their decentralized exchnage?
If they ever decided to come up with a centralized exchange, t will be a big falure. Who will risk thier money for the second time when they scam with their exchange FTX.  

In the beginning, Ftx Exchanger and Binance Exchanger were my main deposit spots. Whenever I made some profit or got paid through Cryptocurrency, I put everything i.e. the whole fund in these two exchanges.  I was lucky they didn't have any funds there before the FTX crash. Now I want to say that after the incident of FTX exchange I don't trust any centralized exchange anymore. And also want to say that since the exchanger is tarnished, they don't seem to be able to back it up again cz no one gonna trust them again

I don't know but i am sure every centralized exchange will scam one day.  Not at this time, but who knows the Binance scam may be the reason for the next bear market after the bull run in 2024.

I will also agree with you on this point that there is a very big chance that Binance may crash or bank rupt in the future but I will also say that it is hard to say how many years it will be maybe 10 maybe 5 or more or less.