The collapse of FTX, Sam Bankman-Fried’s crypto con, how it soared & why it vapourized

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Two corrections. First, $40 million is RS 350 cr not 35 cr. My mental math is bad! And the contribution to Biden campaign is $5.2 million, not billion. That’s a slip. Sorry about these…Shekhar

EVERY FAMILY HAS THAT ONE PERSON WHO WILL BREAK THE FAMILY FINANCIAL STRUGGLE I HOPE I BECOME THE ONE ☺️... IN A FEW WEEKS I WAS ABLE TO PAY OFF MY DEBTS THROUGH INVESTING IN CRYPTO TRADING

There are lots of mixed opinions about stocks and there projection in the next coming years, I aim for short term solid gains from market correction and I'd definitely jump on the boat if I knew a thing or two about day-trading, but then again what do I really know? I'm just looking for the right moves to grow and hedge my stagnant reserve of $370k from inflation.

Spot on! You are getting good at being ahead of the trend. Good job man! You nailed it. Many people have lost their life savings as FTX fall but not me as I was warned by my crypto advisor Marnell English of the imminent doom that was about to happen, I was able to transfer my profits of 13 bitcoin before they stop all transactions form FTX. I always say this there are different ways of earning profits in crypto market but most people believe in buying and hold for a long term, me on the other hand divide my portfolio in 2, 1/2 is to hold and the other 1/2 is for trading, using accurate signals from my advisor I have profited multiple times therefore adding more coin to my cold wallet. I also advise my friends to stop holding your coin in exchanges they gamble with your coin.

Never expected to hear SG say “thoda goli andar, dimag Jalandhar” 😂😂 Jokes aside, thanks for the explainer SG!

I love Shekharji's humour. "frizzled hair which he was very careful never to comb", "he's 30, wears shorts, doesn't even have time to comb his hair, vegan and sleeps on a beanbag..." I'm dying laughing. 😂😂

The price of BTC declined over 15% and even trade below 16k. Binance opted out to bailFTX, resulting in an increase in selling pressure… this has caused all altcoins to follow suit at the moment, if BTC fails to recover by the next major support..then a massive lower low is expected. Sharon Rooker stated her bullish stand on the market regardless of the market volatility and I’ve been able to make over 22.4btc from her insights and accurate daily signals using 3.7btc…staying one step ahead is always rewarding at this time.

SOMEONE SHOULD HELP HERE. I LOST OVER $5000 ON LIVE TRADE. I THOUGHT LIVE TRADE IS THE SAME WITH DEMO TRADE BECAUSE I WAS WINNING WITH MY DEMO ACCOUNT. THIS IS QUITE ANNOYING, WHAT SHOULD I DO PLEASE 🙄🙄

Crypto exchange going bankrupt in "real" money is a paradox in itself!! Indeed one of the best CTC episodes this year

Buffet said he would not buy entire crypto even for 25$ ... I wonder how he got that intuitive feeling

Now that Amazons AMA550X is around it's all about the question when and how much. I prefer this over ATOM, ALGO, L2 based ones and whatsoever

One major correction - The billions that people put into FTX was NOT to get interest. They did it because that's the only way you can buy Crypto with your money in the bank (Similar to using Zerodha for buying stocks, etc). People could withdraw the coins after they bought it but because FTX had an image of being very safe and reliable, people kept the coins on the exchange thinking they'd keep it safe for them (not earning interest).

A great idea for a drinking game - have a shot every time Shekhar Gupta says ‘idiot’ in this episode 😂

The key reason for collapse of ftx was that $8bn of customer deposits from ftx were transferred to Alameda research secretly (or 'accidentally' as sbf said). Which were then subsequently lost on crypto bets. Asset managers (like alameda) can go down, but this unauthorized transfer of money down an exchange (ftx) where unsuspecting customers had put deposits to trade crypto. I think this a key fact that should have been highlighted in the video.

Taking a deep breath and saying that Sam, fried and freed a lot of people of their hard earned money !

SBF donated infinite amount to charity, because anything divided by 0 is infinity

In early nineties, there was a company called Golden Forest which ran "double your money In just three & half years" scheme. Later all of its owners/ directors died in pathetic conditions.

"God Almighty never made anybody perfect", seemingly mundane observation but oh how true! From someone who modestly claims not to have much understanding of the Crypto world, this has been, by far, the most comprehensive explanation of what happened to FTX.

I think this is one of the best CTC for the year.