@rezoanulvibesOnNoiseApp
How safe do you feel the centralized exchanges are? Are they playing games all the time? After FTX collapsed, different exchanges try to show that they have the reserve that are supposed to be there. So everything is fine. You can trust them and keep doing transactions on their exchanges. No one wants to lose their crypto like many people did in FTX recently. Crypto exchanges show that they have funds, but a large amount of crypto transfers back and forth after or before sharing snapshots. Huobi exchange wallet was found to transfer 10K ETH to Binance and OKX deposit wallets. It happened just after sharing their assets snapshot. Do you think it's nothing and they have the funds that they show? FTX acted like a savior of BlockFi and other platforms like this, but FTX had to show its true color eventually. Many people get rekt putting their crypto and trust on FTX. They say something and do something else behind the scene. Sometimes when people find out about that, it becomes too late.
2 comments
Exactly. I think most trust is broken. Also seems like dydx was going against the market in upwards director because of the same reason
They lost trust and credibility. SBF turned himself into a successful scammer. It is easy to fool those investors the way SBF did, I guess. I don't understand what kind of due diligence they did before investing in FTX.