FTX’s Digital Coin Was at Heart of Crypto Exchange’s Fall

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A little-traded digital currency created by Sam Bankman-Fried’s now-bankrupt FTX played a crucial role in the company’s collapse

now-bankrupt FTX cryptocurrency exchangeThe digital currency is FTT, which was created by FTX. It isn’t unusual for a crypto exchange to issue its own currency, both to allow founders and early investors to profit if the value rises and to motivate traders to use the exchange.

 

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DNC's piggy bank.

derekahunter

Where was the WSJ editorial board on this? FTX's Sam Bankman-Fried was the 2nd biggest Democrat donor in 2020, 20221, 2022, giving $10s of millions to the DCCC/DNC. Which candidates got corrupt illicit funding? Who was the conduit for the money? Which PACs were involved?

POS Democrat donor.

Are criminal investigations part of the picture?

2nd largest Democrat donor.

FTT was an excellent token. It provided a lot of advantages on the platform and even elsewhere. The problem wasn't FTT, but the lack of full reserves of FTX. FTT can be viewed as a sort of stock of FTX, as it benefited from 33% of the profits.

Stop buying crypto they’re a pyramid scheme

Greed, lack of morals, and participation ribbons.

I mean, if you’re investing in a guy who looks like him, did you really expect a different outcome?

'Your tax dollars at work'

Never trusted this

All these crypto death spirals that have been happening are what you get when engineer-types try to dabble in finance.

Crypto are not safe assets in time of inflation and recession. Bitcoin, Ethereum, Solana, FTX are all collapsing months. Gold and silver prices are increasing for years. To win and secure wealth, buy gold now

How is Congress going to wash its Ukraine money now? The American people are being robbed to line the pockets of politicians. A story as old as time.

But they bought a lot of children 🤷‍♂️

Awwww the democrat funding mechanism is gone. 1 down, 1 to go. georgesoros can’t live forever. It’s biology…

'Dont judge a book by its cover.'

Was this a laundering scene? Was this company funded by foreign nations and then funneled into democrat campaigns?

Lol, played a crucial role in a couple other things too.

Apparently he donated insane amounts to the Democrats

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FTX Digital Markets co-CEO staying on, lawyering up: SourcesFTX filed for bankruptcy yesterday. Trabucco is the biggest fraud along with sbf. Needs to go to jail. Staying on what lol Salame sounds like a serious conflict of interest to the vegan culture at FTX. Maybe we should pull that thread and see what happens (parotty).
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