Epic fight in the cryptocurrency circle, a 230 billion cryptocurrency giant went bankrupt in five days! (Part 2)

From 2010 to 2011, with several rounds of rising prices in the cryptocurrency circle, FTX became the second largest trading platform after Binance. Although Zhao felt threatened, he did not seem to take Afro seriously and maintained harmony on the surface until the end of 2011, when an uninvited guest came in. This uninvited guest was Sequoia Capital. As early as 2017, a nearly three-year war of words broke out between Zhao and Sequoia Capital. Subsequently, with the upgrading of domestic supervision, Zhao went overseas, and he and Sequoia Capital had a complete feud. In 2021, Sequoia Capital announced a strategic investment in FTX, and after obtaining the support of more than 60 institutions including Sequoia Capital and Softbank, the ungrateful Afro turned around and put his grandfather Zhao out of the game. Not only that, he also invested in the United States and sponsored Biden, hoping to rely on the support of the Americans to become the boss of the cryptocurrency circle.

As the real boss of the cryptocurrency circle, how could Zhao endure this? Unexpectedly, Zhao really endured it. In late 2011, Zhao quietly withdrew with a sky-high "breakup fee", retaining only 23 million FTX platform tokens (FTT). As time went on, it was these 23 million FTTs that became the biggest killer that crushed the explosive head in one fell swoop. In July 2012, Zhao's revenge plan finally began. On November 6, Zhao personally came out and said that he would clear out the FTT tokens. You know, the FTT held by Zhao was worth 500 million US dollars. With Zhao's influence, the cryptocurrency circle was directly blown up, and a large number of retail investors fled, and a crowded accident occurred. In less than 72 hours, 6 billion US dollars were directly squeezed, and the explosive head was scared to pull out the network cable.

On November 8, the explosive head begged Zhao to take over, and FTT ushered in a brief rebound, but in less than an hour, the US regulator said that the transaction violated the antitrust law. Then, Zhao did not pretend and directly terminated the acquisition, and then FTX experienced a waterfall-like decline. On November 11, Zhao bankrupted FTX in just five days. What was outrageous was that FTX was hacked during the bankruptcy liquidation, and the $1 billion in the account was transferred away by hackers. Such a giant in the cryptocurrency circle was so vulnerable.

#故事汇 #币圈红人 #币圈新闻 #币圈名人

#故事汇 No, this square is either Story King or advertisement. Why not just change the name to Story Collection? Why not call it Binance Square? Where is the technical analysis and news bulletin? Nothing.

Epic fight in the cryptocurrency circle, a 230 billion cryptocurrency giant went bankrupt in five days! (Part 1)

Today I will share with you the most ruthless Chinese tycoon, who bankrupted an international giant with a valuation of 32 billion US dollars in just five days!

On November 11, 2022, the second largest trading platform FTX set a new record, with $6 billion being run in just 72 hours and declared bankruptcy in five days. 100,000 creditors lost all their money, and the founder's net worth fell from $16 billion to $1. Hundreds of investment institutions including Softbank and Sequoia Capital have stepped on the thunder. On the surface, it seems to be a farce, but after deep digging, it is actually a fight between the two giants in the cryptocurrency circle!

One is the founder of FTX, SBF, nicknamed Exploding Head, and the other is the most ruthless tycoon in the cryptocurrency circle, ranked first on the Chinese list, and the founder of Binance, Zhao Changpeng. Afro is known as the Musk of the cryptocurrency circle. He is a top student in the Department of Physics at the Massachusetts Institute of Technology and is also known as the trader with the least faith. He became a billionaire by making money out of nothing in the cryptocurrency circle.

In May 2009, FTX, a cryptocurrency trading platform founded by Afro, was officially established, and the feud between him and Zhao also began in this year. At the beginning, Zhao's attitude towards Afro was to support the young back, which could be regarded as unsparing support. In December 2019, Zhao announced a strategic investment in Octafx, which raised the valuation of FTX to 1 billion US dollars in one fell swoop. Zhao never expected that the junior he personally supported was a notorious ungrateful person, and the first thing he did after he got up was to knock him down.

#故事汇 #币圈红人 #币圈新闻 #币圈历史

#故事汇 #交易圣杯
Every brother who joins the VIP family has his own story;
Today's protagonist is a portrait of an old leek who has been struggling in the cryptocurrency circle.

On a stormy night two months ago, while chatting with everyone, this old man found the organization: fang05200212 with a long order of $IO 3.64. The price of IO at that time was 2.7, and the long order that had been held for more than a month seemed to have doomed the outcome. On July 16, the market trend looked like the rising daily line had also stabilized, so I told him to wait for the market to explode. Then when I remembered it again, it was already July 25 when the market exploded to 3.2 and then pulled back to 2.6. Suddenly I remembered that I had chosen to stop loss the day before when I asked him. Then the market rebounded to 3.1 the next day. I believe that everyone in the cryptocurrency circle can empathize with the torment when the market is opposite to your order. In the subsequent communication, the elder brother also proposed to join VIP.

After the first order after joining VIP, the elder brother successfully integrated. In the daily discussion of the market, most of the coin friends are somewhat lacking in the grasp of the market and the decision-making of transactions, and there is no certain correctness in the grasp of the market, only the operation strategy with infinitely close to the correct idea. The role of VIP is that when everyone has no idea, the big guys use their own difficult practical experience to make trading strategies. Share it with everyone, grow and understand the true meaning of trading in actual combat.

Why trading experience is important: No trader can predict the trend of the market, and the output of each successful transaction needs to find its own opportunity in the market trend.

For example: On August 26, the price of $SOL was fluctuating around the 158-161 range. At that time, the elder brother was given a short order with an average price of 160.8 on 1 to 1. After confirming the position on the 27th, it was decisively prompted to form a pattern. Then the market began to explode on the 28th and fell all the way to the lowest 121 this month. The story seems perfect, but the order was closed on the evening of the 27th, and the best holding price was lost.

I believe that everyone has experienced such a stage myself. I can't stand the market trend and can't achieve unity of knowledge and action. At this time, VIP's strategy will be a beacon on your trading road.

Meituan, which owns half of the takeaway industry, lost 115.5 billion? Who are they fooling?☕

Are you wondering why American companies have such high profits, while Chinese companies, even if they are ten times the size of American companies, have very low profits or even lose money?

This is the industry practice.

1. The company's profits are distributed to the founders, and they need to pay 45% tax.

So how can we get all this money?

2. Loss is enough.

If I lose money, I don't have to pay taxes, right?

This part of the loss + the company's original profit can all be lost in the founder's wallet.

Those who have face may leave some soup for investors, and those who are shameless will even lose the money in the stock market into their own wallets.

This is how Haha played. When it was in trouble, the state injected capital many times and even became its largest shareholder.

What was the result? The old man controls a supplier upstream to sell raw materials at high prices, and controls a distributor downstream to buy products at low prices.

You said you have stocks and you want dividends?

Sorry, my company is so big that it doesn’t have any brick money.

I don’t even share the dividends of state-owned capital, so what dividends do you share?

So many times, you think this industry is good and this company has good development prospects, so you pay money to buy its stocks and help it raise funds.

Sorry, it has been losing money all its life, and it has been losing money to the point that you doubt your life.

You may think that even if he controls upstream and downstream companies, the profits of upstream and downstream companies should be taxed.

Sorry. Upstream and downstream companies are all abroad, and I have to pay "patent fees" and "consulting fees" for my raw materials.

Anyway, once it's all over, they will take the brick money, and if they don't have brick money, they will also "lose" it into their own wallet.

There is a family in A-share specializing in this kind of business. After a few years of losing money on a listed company, they will change their vests and continue to go public and "lose money".

#经济数据 #故事汇 #财经解读 $BTC $DOGS $PEPE

#故事汇 #地摊文学 #三低人士

In the middle of the night, I turned on my computer and started NetEase Cloud Music.
As the music played softly, the memory of my first love in elementary school came to my mind. Twenty years later, that innocent feeling is still vivid in my mind, as if it was yesterday. Perhaps, it was not a real love, but just a quietly buried feeling, only secret love and ambiguity.
She was my class monitor in elementary school, the leader of the study group, and my deskmate. Because we were both very good at mathematics, we would stay after school every day to receive special tutoring from the teacher. Over time, I gradually developed feelings for her, and she seemed to notice it. Occasionally, when I touched her fingers, her face would blush. After school, we walked home together, bought snacks together, and played with the puppy in front of the roadside shop. I occasionally teased her, and she would pretend to be angry, but turned her head away with a smile. Her red ears, long eyelashes, slightly wrinkled brows, and coquettish expression are so cute, real and vivid.
Looking back, maybe it was because of our precocious development that our mathematical thinking was better than that of our peers, which also affected the budding of our emotions.

It is now 05:41 Beijing time. I fell asleep, hoping to go back to the past in my dreams.