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by COINS NEWS 103 Views

So much drama, so much lying, so much more. The whole FTX collapse and its aftermath has now reached the end of its second week, so here is a small overlook of this weeks big events.

  • John Ray, the new FTX CEO called the current situation the worst thing he has ever seen in his Chapter 11 bankruptcy filing, he is also the same person that handled the Enron collapse in 2001.

  • Bahamans government took the help of the fraudster SBF to β€œhackβ€œ FTX for their remaining funds to size them. (now they have been seen to swapping them with BTC)

  • FTX used customer funds to buy their own properties, including penthouses in Bahamas.

  • SBF has been tweeting single-letters in an attempt to sneakily delete a lot of his problematic tweets.

  • Cristiano Ronaldo has become an official partner for Binance, the same sites CEO, CZ said to not trust any celebrities.

  • The largest BTC fund, GBTC is fearing a collpase as Grayscales partner Genesis is catches in the FTX contagion. (GBTC is - 43% to the BTC price right now)

This all just a very small overview of how crazy just this one week of aftermath has been. SBF is continuing to lie and put the blame on others (including his ex-girlfriend), more companies are getting to the brink of collapse due to the collateral damage caused by FTX. Crypto is more alive than ever and we are just the side-characters in a disaster-action-drama-politics R-rated movie.

submitted by /u/partymsl
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