They can make 100 copies if they want

Twitter's value is not the platform, its the userbase.

Everyone here should already know that

They slowly built/clean their reputation, bitcoin going up to 70k made everyone just forget the past.

But yeah, they are probally the most shady ones, but the fact they actually have no offices and no govs after them, makes it easier to hide your operations, its the same for tether that has managed to get so big with absolutely no offices, no employees or anything.

Both are best friends.

They just hire people from other places, cheaper labor, I know at least 4 southamericans who worked for them in the past, 100% remote, same talent as an US dev, and 1/4 of the cost

he definetly did, where do you think the insolvency comes from ?

Noone taking the other side of that short.

Is entirely fallacy/fantasy when people talks about shorting on crypto market.

You can't win shorting actual crashes in unregulated markets, the only way u win shorting in crypto is that you were lucky to guess what a whale/org was doing at the same time so pretty much a russian roulette

Marketmakers are not legit and all the movements are pretty much fabricated, its just not regulated and its obvious

> Noone taking the other side of that short.

> Is entirely fallacy/fantasy when people talks about shorting on crypto market.

What do you mean by this? I shorted FTT the second I saw the tweet, and then I shorted the entire cryptocurrency market. I successfully made money, so how could it be a fantasy?

You are right, but we are talking about binance shorting big amounts of tokens, not you shorting some amount in their own game

Tell me who at the same level of insider info, gonna OTC borrow you millions of FTT for you to short, when most likely that person/entity owning millions of FTT is already trying to protect their value?

You have to remember that when you short and you bet for price going down, the other side is betting for price going up or at least for the price to stay at the same levels, the person borrowing you has to be constantly doing DD to be sure that its the right moment to borrow the asset, and its pretty obvious that someone holding big amounts of FTT was/is very aware of whats comming

if I was an OTC shorter and had millions of FTT and you see Binance CEO comming to you to short, I inmediatly said no and cashed out those FTT instead of shorting, cause clearly at those levels there is certainty of what they are doing.

I only shorted FTT at first. Then I shorted BTC and BNB instead when I realized this was going to crash the market. For some reason BNB was massively overbought yesterday. Binance hype or something. Almost reached 400 USD. I shorted it at the top and watched it melt down to < 300 USD.

God I wish I could be this lucky every single time.

They don't need to short FTT. They can short BTC. This is having a big impact on the whole market, and is going to continue to.

It works, until it doesn't. When volume drops, it's possible to harm lots of people who were short like this by pumping to force liquidation and then handling the liquidation and dumping (taking money from every side). It happened during the Luna/Terra crisis. Shorting LUNA was high risk because there were at least some players who burned others frequently on the path down.

Work at a trading firm and we saw the entire thing play out, but we're algorithmic so we weren't set up to take advantage.

Though if you're a small player, there's a lot of opportunity here. Some times, the difference between the price for liquidation and the price you can get somewhere else is high. We saw one dude make a quick $300k through a flash loan. The market isn't fully efficient yet, so this opportunity was available for 10 min before someone took it.

> force liquidation

> there were at least some players who burned others frequently on the path down

I don't know. If there's a risk of getting liquidated during one of those minor reactionary pumps, the position is probably overleveraged to begin with. Also, do people not configure a stop loss?

Market places knows where is your stop loss... You play again them.

It should not be, but it's a scam and unregulated.

I made the painfull experience of it with a future on DJIA in 2009, and it was a regulated market place (CBOT, i think)... I was long because I supposed a reversal of the bear market. I put a stop loss at 8000$ or something. Price went just 1 tick (0.01$) under my stop loss then went up.

It happens market place members (big players or market makers ; you pay to be a market place member which give you some advantages over regular traders) have full visibility of market orders book, but not retail traders. So they have access to your stop loss order. So then can put pressure on prices whatever the direction to force you to close your trade until orders book on one side at a price level is empty and the price can only reverse course.

Yeah, I'm sure you've run the math on it and have the right leverage, but it's a hard game for retail to play.

It's not just FTT/FTX, though. They're probably taking down others with them. Looking at the books gives you an idea of who the "others" are and how screwed they are.

If you have enough capital couldn’t you weather the artificial movements to be able to capture the natural downward movement. VTT is going to zero if VTX liquidated in bankruptcy.

Is it any better if he is able to liquidate longs based on the balance sheet that he would not have liquidated had he not seen the balance sheet?

we are all ignorants about the reality here, so we are all guessing

but when you have to guess stuff about the crypto market, you literally have to think the worst things or the best things and you will be right

my guess here is simple, CZ has liquidated everything that can be liquidated that doesnt make him look bad, hes deep in the very same business than FTX/Sam was, he doesnt need to look the balance sheet, chances are his balance sheets are similar or worse haha

So he probally liquidated longs if any, he probally did OTCs with other tokens/assets and just kept the FTT as a PR move to pretend he was a nice guy, anyways having an amount of $ "lost" by a token that was never worth anything is still 0 lost, he most likely got those tokens in exchange for other tokens worth nothing, or during ICOs stage so pretty much hes not losing any cash even tho you will read people saying how much he lost, remember all of that is nominal value, not real cash value at the end, the very same reason things are falling now.

PR

They are the biggest exchange now, they gotta look like they care and tried to help so they can attract all the ones who need a new home

You still dont get crypto dinamics, is not about the tech, is about how much money you can extract from people trusting you

Pretty expensive PR. Just run some superbowl ads and name some stadiums.

Is not expensive, it was actually really cheap, the tokens Binance has are from ICO stages, OTC deals, trades for other tokens, etc.

Binance or CZ paid never paid face cash value for any those tokens, simple as that.

And most important, he hasn't purchase FTX. So it was just tweets and have your PR team contact major crypto news sites

Note parent said "look like they care." It's only expensive if they go through with the purchase.

So far it has cost them a couple of tweets.

What really amazes me about the whole thing is that after celcius and now ftx, tether manages to have peoples' trust and manages to have a bunch of apologists, to the point that in this whole threat there is 0 mention about usdt or tether, while it should at least be mentioned or discussed in here, even tho it has no direct relation, they are the org with most obscure and shady things about them, even the whole business of binance was built around their USDT pairs

it's also quite funny how Binance now acts as a total legit org that has not wrongdoings when they have shown no proof of their BUSD backings and they built their empire on top of tether

>...What really amazes me about the whole thing is that after celcius and now ftx, tether manages to have peoples' trust...

I've never held/used Tether, and that won't change. There's no reason to use it. However, it's worth pointing out that Tether DID go through what FTX is going through right now. They handled it surprisingly well.

This article says they had $10 billion redemptions in May: https://www.cnbc.com/2022/05/17/tether-usdt-redemptions-fuel...

This article says they had $1.6 billion redemptions in June: https://www.coindesk.com/markets/2022/06/15/tether-sees-new-...

There are rumors that FTX was/is missing as much as $5 billion of customer deposits. That's what lead to their withdrawal issues.

>while it should at least be mentioned or discussed in here, even tho it has no direct relation

It's a stable coin, not a centralized exchange. No comparison. Though, both should be able to honor 100% of withdraws at any moment.

You are likely to label me as an apologist. Again, I don't trust it. I couldn't care less if it stops existing tomorrow. I just haven't seen any concrete evidence it can't honor redemptions. The opposite was proven in May and June.

> This article says they had $10 billion redemptions in May

This is only impressive if they actually had $10B of cash and equivalents to return/liquidate in that period.

Of course the accusation is that Tether is largely unbacked, and so redeeming $10B of nothing is a lot less impressive.

Before the whole debate of electronic vote being safe or not, please considere the following:

Not all countries work the same, what you perceive as corruption in the US is nowhere near of the reality of corruption in southamerica, a place where corruption is not only a word or a definition but it's literally the force that move things, corruption is pretty much already part of the culture.

So please, don't put your own experiences from the US/1st world countries in practice here, trying to explain how things work in 3rd world countries when you are not fully aware of the level of corruption in brazil. If brazilians themselves are talking about the huge window oportunity for corruption is because they know their culture, they know their problems and they know exactly how things work in their very own coutry.

PHP its seen only as something from the dark ages when u using VC money and the more new tech u mention to them more money u get, not all the web is based on US and able to pay 5k monthly AWS bills just to even set up a silly enviroment to test stuff/learn or start launching a side/new project

that already exist in the whole Kpop scene in South Korea

Im not really sure why It has not expended to other regions of the world

UEFA/FIFA has managed to deal really good with scalping for soccer matches.

Is just matter of time.