Would you invest in FTX 2.0?

[bbc.reporter]

If there was an exchange that issued their own token similar to how FTX has done and it buys back their token from the market using a meaningful percentage of their revenue, would you invest in this token?

Also, let us create an assumption that this exchange has very honest developers who are very much respected by the community and their exchange operation is transparent which can be verified by everyone.

[mikel_012]

If they have a good product and a lot of volume, of course!

BNB is up 20% in the last month and they are the token of an exchange, it goes up because its one of the biggest with the most volume and products in the crypto ecossystem. It's like buying the stocks of a growing company.

The problem with FTX was the scam they did with user funds, not their token.

[Oshosondy]

What caused FTX to downfall was because of the exchange shady things which Binance CEO at the time, CZ let people know about. So if an exchange is transparent and not misappropriating their users money or coins, there is no problem. What people want are transparent platforms that do not misappropriate users coins.

[Darker45]

No problem. I may invest in their token just as I may invest in a pointless meme coin and other shitcoins or overpriced yet useless NFTs. But it would all be for the money. If it brings me profit, why not? I'd just take advantage of its potential, and that's it.

The problem with this scenario actually is the assumption, the assumption that a centralized crypto exchange has honest developers and its operation transparent. At most, that's wishful thinking. FTX once had this image. Sam once had this image--a simple man, an effective altruist whose business is geared toward helping humanity.

[God Of Thunder]

I think people have already learned from FTX. There is no need to invest in FTX 2.0. Exchanges and business owners usually promise a lot of things, but if they decide to scam you, you cannot do anything. Based on your description in the OP, I assume people would agree to invest in such a project. But when it comes to a company like FTX, which has collapsed once, I don't think people would take the risk and invest again in this company. Personally, I won't even use their exchange. Forget about their token or anything. I believe most people think this way. They won't use FTX anymore.

[bhadz]

Just for the context that if they're going to be just as FTX 2.0 obviously hell nah! But we can't determine on which is going to be the second version of them from the beginning. The utilities of exchanges are still a good coin to have when they've got the volume and they're quite popular. And having that said that if it's made by known people and reputable in the scene, it's one of the reason why people invests and that's because of trust and reputation. And with all of the factors that you've said, then, I'll give it some spare to invest with.

[bbc.reporter]

What caused FTX to downfall was because of the exchange shady things which Binance CEO at the time, CZ let people know about. So if an exchange is transparent and not misappropriating their users money or coins, there is no problem. What people want are transparent platforms that do not misappropriate users coins.

What caused FTX's downfall were Alameda Research's loans that used the exchanges' FTT token as collateral. The token did not have a very large and liquid market and when Alameda Research's overleveraged trades were going into liquidation, Sam began sending user deposits to Alameda to fund those trades.

There was a chance the downfall of FTX would have been avoided if CZ loaned money to Alameda to fund their trades, however, what did CZ do? He commanded the dump of Binance's share of FTT and announced that he will not help FTX heehehe. There was a fight between CZ and Sam already on social media before this.

[Apocollapse]

Unfortunately I'm someone who can't forget thing easily.

I won't invest in FTX because the business model is same, still a centralized exchange, still prone to get hacked, nothing change. How can I trust them when everything is the same? I won't buy any kind of promise better cold storage, multiple encryptions etc.

It's different if I got scammed in Bitcoin, I would examine whether I scammed through buying from fake exchanges, person, etc.

[avp2306]

If there was an exchange that issued their own token similar to how FTX has done and it buys back their token from the market using a meaningful percentage of their revenue, would you invest in this token?

Also, let us create an assumption that this exchange has very honest developers who are very much respected by the community and their exchange operation is transparent which can be verified by everyone.

On early phase if they show promising movement and they are doing great things to fulfill their promises then yes, there's good chance that we could earn some profit by investing on their token.

But I won't deal with them for long term because we already know the consequences brought up by doing this due to FTX collapsed incident. I don't want to experience losing my money that's why I'm more careful looking at those possibilities to invest on those tokens.

They are good for short term since  Bitcoin still the best for long term.

[albon]

They are good for short term since  Bitcoin still the best for long term.

We don't know how the token will react to the market, and how investors and the crypto community will regain trust in the new token after the massive losses caused by the original token and platform, or simply ignore it as if it never existed.

As for me, I wouldn't risk a single dollar on FTX 2.0 or any other token based on a centralized exchange. These tokens are influenced by any news related to the exchange itself. We've even witnessed BNB's sharp drop in the past when CZ was arrested.. And when it comes to FTX, it’s absolutely impossible for me to ever use that platform again. What happened was a nightmare that has already destroyed the brand name forever.

[Z-tight]

Transparency and centralized exchanges are hardly found in the same sentence. It is impossible to know what is happening behind the scenes, who knew sbf was misappropriating customer funds and running the service to bankruptcy. Buying tokens like the one you are talking about is simply like gambling, people who don't mind would buy it, probably with a small amount of money and see what happens.

[bbc.reporter]

@Z-tight. I very much agree. I was only trying to make an argument that if it was very much possible for FTX 2.0 to be transparent for their customers, would you invest in FTX 2.0?

In any case, I ask this question after I have read this article. It appears that FTX 2.0 might not be a CEX, it might be a DEX hehehe.



Asked Grok, ChatGPT and Gemini to Rank the Perp Dex Derby Top 10

I used Grok 4, Gemini 2.5 and ChatGPT 4o to analyze the publicly available information on 10 Perp Dexs in what I am calling the "Perp Dex Derby".
 
VCs are calling it the CLOB wars which personally doesn't make sense to me because the first word in CLOB is centralized and we're talking about DECENTRALIZED exchanges. So yeah, Perp Dex Derby sounds better to me. Sue me.

In this exercise I did not alter any raw outputs from Grok, Gemini, or ChatGPT. I just put them into Google sheets to organize for a prettier output.

Read in full https://x.com/satoshiheist/status/1950289674498457871