FTX was the world's 3rd largest crypto exchange.
Today it's said to be insolvent and in the midst of an acquisition by Binance.
Here's everything you need to know about Alameda Research and the collapse of FTX:
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In a year of turmoil the last 24 hours have been the worst thing that has happened for the crypto space, by orders.
It underscores the need again for transparent, overcollateralized systems that can deleverage in an orderly manner.
It ironically underscores the need for crypto.
[DB] In the Beginning, Our Hope Was to Be Able to Support FTX’s Customers to Provide Liquidity, but the Issues Are Beyond Our Control or Ability to Help: Binance Spokesperson
Two big lessons:
1: Never use a token you created as collateral.
2: Don’t borrow if you run a crypto business. Don't use capital "efficiently". Have a large reserve.
Binance has never used BNB for collateral, and we have never taken on debt.
Stay #SAFU.🙏
Anyone telling you you will regret not rushing buying in the 20k, if we assume bottom is in (absolutely nobody knows), are full of shit.
It’s been months now, with a rally entirely round tripped.
When is more important than where, take your time don’t let CT permas get you.
What my dashboard monitors:
Bid-ask spreads, volumes, daily/1hour changes, latency from different regions, jitter from different regions, % of trades that have incorrect timestamps, % of trades on feed which are OTC, empirical size distributions, PnL, anomalies using unsup ml
The reality is most people have been DCA’ing since $50k and require a 2x just to breakeven.
I’ve never been a fan of DCA’ing, to me it’s just the concept of adding to a loser.
Why not just buy when we enter an uptrend? Why have the stress of always being underwater?
@BigCheds Agree, and the OBV is screaming...but honest question: how do you think $ETH hype is holding $BTC price exactly (and technically)? is just the general hype that makes people think the bottom was already in for $BTC?
Monthly reminder that if you talk in absolutes and think you figured out how to "beat the market all the time", your worst days of trading are most likely ahead of you and market will humble you one way or another.