FTX insolvency rumor

https://twitter.com/DU09BTC/status/1589135270103773184

There is rumor going on regarding the inflated valuation of FTT and a possible insolvency at FTX.

A wallet, believed to be Binance, has moved $500+ mil worth of FTT tokens, which could lead to a dump.

This is also incredibly timely in the current order of events:

SBF has been lobbying for anti-DeFi, using extremely anti-crypto words in the documents. FTX recorded largest BTC shorts liquidation (even bigger than Binance). CoinDesk reported that Alameda Research (SBF’s trading firm) balance sheet was found to hold a huge amount of FTT (magic printed money) as collateral. SBF has been pushing for FTT longs last week.

SBF may have been short-squeezed which leaves him vulnerable to a coordinated attack on FTT and FTX now. It’s unconfirmed at this point, but do not disregard this as just FUD.

Best case this is just coordinated FUD. Worse case this tanks the FTX exchange and pulls a Celsius on its customers. Worst case this pulls a Legendary Do Kwon situation where BTC and other major coins are liquidated to save their lame FTT token.

Plan your holdings accordingly, be prepared in the event something does happen.

As always, not your keys not your crypto!