FTX, FTX US, and Alameda Finally Filed For Bankruptcy

Things will not always go according to your expectation. That's okay. When you are in crypto, you know that the crypto market is highly volatile and risky. But how do you feel when it is revealed that everything is a lie that you are told before?

FTX CEO Sam Bankman-Fried made a tweet about filing FTX, FTX US, and Alameda Research for bankruptcy. What happened just in a couple of days is unbelievable. It is so shocking and people are going through a hard time.

At first, it seemed it was a FUD. There is a good relationship between smoke and file. So something is burning there. Then a bank run happened, and the whole empire collapsed. So FTX CEO filed FTX US for voluntary Chapter 11 proceedings in the US. Wait for a second!

FTX US is a US-based crypto exchange and it is not affected financially by the shitshow. FTX CEO confirmed that it was 100% liquid. Then which shitshow hit this? I cannot imagine how far popular crypto exchange CEO would go lying from the beginning.

This is a good lesson. You cannot believe what the so-called popular crypto exchange CEO says. They may never feel sorry till the end. If they are caught red-handed, well, you may see a tweet like this.

What else do you expect? It's enough. End the story. This story let many people down. The crypto market is down. And the regulatory authority may go hard on crypto in the name of protection and safety.

It is sad to see many people could not get crypto from the exchange. People could not imagine things will be that bad and one of the largest crypto exchanges ends up like this.

Bad players are everywhere and crypto is not exceptional. When the bad players become big in crypto, they have the power to do more harm. Sometimes we learn something the hard way. You may not realize the depth of it if that is easy.

We will forget this and move on. What we learn from this can help to navigate the crypto sphere in a better way. We will be more careful about handling our crypto. Your crypto, you have to ensure its security and safety.

No one will care more about your crypto than yourself. That's the truth. So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.

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