About the FTX controversy among other points
It has been several days since the great controversy that was formed after what happened with the FTX platform, which was directed by Samuel Bankman-Fried, who then fled to take refuge in the Bahamas. So far he has not been apprehended, and I believe his extradition has already been processed by the authorities.
But all this left me wondering what would happen if Binance was the next to go down? To which I asked a youtuber who deals with these issues seriously about the crypto market price and the factors that influence; to which he tells me that it would be a mortifying blow to the crypto world, and that despite going to ruin they could recover in the distant future.
On the other hand I got other news, the Government of the country El Salvador plans to continue buying whole units of Bitcoin, one for each day from this moment, so in a year would reach a total of 365 new Bitcoins (apart from those who have) at a cost of 6022500 for an average value of $ 16500.
With all this I was reminded of something, and that is about the upcoming launch of the Digital Dollar by the Federal Reserve of the United States of America. A project that is in test mode.
Now, if we analyze all the above points starting with Binance -the largest crypto exchange website today- and if the same thing happens to it as it happened with FTX, it would obviously be the total ruin of cryptos, since the credibility of these currencies and the Blockchain technology would be lost; but if this were so, why is the Government of El Salvador still betting on this market? Why as of today (Friday, November 18, 2022) the value of BTC stands at $16,700? Finally, if cryptocurrencies did not have any importance among ordinary people, like you and me, why should the Federal Reserve create a project to rival this as well as other countries that manage the same idea?
Some say that the fall of FTX was something planned, that all this was intentional so that governments can discredit crypto and impose their own. It will be a matter of time to see what all this will lead to.
As for you, what do you think, do you think that the misappropriation of funds within FTX was intentional, that governments will be able to compete with crypto or impose them by force? I will be watching for all your opinions in the comment box, I will provide response.
Thank you for your attention and support for this publication. Without further ado, I'll see you in the next installment.
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