Crypto Stories

The reason for the collapse of FTX

Published

9 months ago

December 1, 2022

admin

Do you remember the development that led to the collapse of FTX?

On November 2nd, the balance sheet of FTX’s sister company Alameda Research was leaked.

The balance sheet showed that Alameda Research’s balance sheet consisted largely of FTT tokens produced by FTX, which was the beginning of the end.

With Binance’s announcement that it would sell the FTTs in its reserves for this very reason, the FTT price fell from $ 25 to $ 1 band.

Binance CEO Changpeng Zhao said that he learned two lessons from this incident and that cryptocurrency exchanges should not use their own tokens as collateral.

However, it seems that a massive 44% of Binance’s SAFU fund is made up of BNB tokens.

What do you think about this issue?

Crypto Stories

From 26 billion dollars to 100 thousand dollars

Published

8 months ago

December 9, 2022

admin

Sam Bankman-Fried, whose cryptocurrency empire collapsed, announced that he had only 100 thousand dollars left in his bank account.

Weeks ago, Sam Bankman-Fried, dubbed the new Warren Buffett in the mainstream media, saw his personal fortune soar to $26 billion.

After Alameda Reserach’s balance sheet was leaked in early November, SBF’s fortune fell from $15.6 billion to less than $1 billion in one day.

In an interview with Axios, Sam Bankman-Fried said he had no idea what was going on.

What do you think about this issue?

Crypto Stories

Someone tell Apple to leave Ethereum alone!

Published

8 months ago

December 9, 2022

admin

Apple, which confronted Fortnite and Elon Musk over its 30% commission on each purchase in the Apple Store, has now set its sights on decentralized structures.

According to Coinbase, Apple has moved to take a 30% commission on the gas fee paid for NFT transactions.

For this very reason, Apple has disabled the latest update of the Coinbase Wallet app.

And what about you,

How would you explain to Apple that because of the way NFTs and blockchains work, they can’t get commission on gas fees?

Crypto Stories

What if everyone knew how much money was in your bank account?

Published

8 months ago

December 9, 2022

admin

At Art Basel in Miami Beach, a Brooklyn art collective unveiled an ATM that allows people to share their bank account balances with everyone.

Developed by MSCHF, a company known for its viral products, the ATM lists the bank account balances of those who use it, in descending order from largest to smallest.

Diplo, an American DJ and music producer, posted a video on Twitter on Friday showing him in first place with $3 million.