BRF #60 FTX Part 2

Well it would appear as though we went from armchair quarterbacks claiming “I see no liquidity issues with FTX” to a buy out 2 days later

CZ 🔶 Binance @cz_binance

This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire FTX.com and help cover the liquidity crunch. We will be conducting a full DD in the coming days.

Pay attention to all the CT personalities that were going hard to defend FTX and Sam, those aren’t guys you want to listen to or follow…right?

Here is Sam confirming it

SBF @SBF_FTX

1) Hey all: I have a few announcements to make. Things have come full circle, and FTX.com’s first, and last, investors are the same: we have come to an agreement on a strategic transaction with Binance for FTX.com (pending DD etc.).

I know a lot of people getting lost in the sauce here and everyone is taking sides, good guys vs bad guys etc but take a second and pause….

Feels like politics doesn’t it? Right vs left? You think that’s by accident?

What if they all on the same side and this is a public stunt to further consolidate power under CZ? I mean on the surface its Israel vs China but in reality its all the same team on the backend.

There is way more to the story then what the public will ever know but I personally see this as a lose, lose worse situation. Consolidation of power is never good in any market, competition breeds innovation and just to bring this full circle, this is not what Satoshi wanted for bitcoin.

When the dust settles, we will see even fewer exchanges and startups in the space which naturally means more centralization. Lastly this is the perfect time for US regulation to strike and attempt to wrap everything but those who have lobbied into securities laws, especially if this is all part of a bigger plan.

I think this is truly a horrendous day for crypto as a whole, I would be watching the markets closely over next few days and not deploying new capital.

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