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> not to invest all your savings in high risk investments FTX's failure was due to fraud. Not "high risk investments." They literally didn't have the assets th
by tric 3y ago
> not to invest all your savings in high risk investments
FTX's failure was due to fraud. Not "high risk investments." They literally didn't have the assets they claimed to have. The same investments held at other centralized exchanges or via self-custody (e.g. Bitcoin) would have lead to a different outcome.
- wmf 3y agoA. Get caught up in fraudulent exchange bankruptcy: 75% drawdown B. Buy BTC on a legit exchange: 80% drawdown Crypto is very high risk no matter what you do.
- tric 3y agoBTC is up 32% since the day before the price dropping as a result of the FTX collapse. BTC is up 77% since the bottom of the collapse.
- xupybd 3y agoCrypto's value mostly comes from speculation and money laundering. It's not a safe investment. Currency is not a safe investment.
- internetter 3y agoRight? I could have this all wrong, but it seems half of crypto is "banks are a scam! Screw the FIDC! I'm smart, I got this" and then... Well as the saying goes, "fuck around and find out". I'd take established markets over the wild west any day of the week
- badpun 3y agoSending a lot of money to some unregulated Internet "exchange" that was literally started a few years ago is a high risk investment (as there's a big risk that the operators will be fraudsters and/or incompetent).
- NoboruWataya 3y agoCrypto is rife with fraud, which is why it's a high risk investment.