[ExI] bitcoin again

[spike at rainier66.com]

…> On Behalf Of Stathis Papaioannou via extropy-chat
Subject: Re: [ExI] bitcoin again

 

 

 

On Sun, 27 Nov 2022 at 02:18, spike jones via extropy-chat <extropy-chat at lists.extropy.org <mailto:extropy-chat at lists.extropy.org> > wrote:

 …

>…I am a total cryptocurrency exchange virgin… do feel free to offer your take on this article, which (guessing by their choice of advertising) might be a parody:

  <https://www.zerohedge.com/crypto/there-will-be-pain-binances-cz-floats-billion-dollar-bailout-distressed-crypto> "There Will Be Pain" - Binance's 'CZ' Floats Billion Dollar Bailout For Distressed Crypto | ZeroHedge

>…A few months ago SBF was saying much the same things: crypto lending services were in trouble, but FTX was solid, overflowing with money, and would save the crypto world. It turns out that the reason he was saying these things was that he knew FTX was in trouble and wanted to boost confidence so that the value of the FTT token securing loans would be maintained, customers would not withdraw their funds and maybe more VC investors would invest in the company. It was working until CZ decided to publicly declare that he would crash the price of FTT he held (which was a lot, from a previous deal with FTX) by dumping it all.

-- 

Stathis Papaioannou

 

 

 

Stathis, do forgive my tyro queries.  Did you mean that CZ intentionally crashed the FTX token even though he held a lot of them, reducing his own net worth, in an effort to intentionally wreck a competitor?  Perhaps this was an attempt to buy the tattered remains of FTX for a song?

 

Seems self-defeating, but perhaps effective.

 

spike

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