The black swan appears when it suits us worst and it seemed that we would reach $22,500 in Bitcoin. The FTT token collapses and with it, FTX and Alameda may fall.
Apparently, his empire was not as solvent as Sam Bankman boasted. After a tweet about the CEO of LUNA making fun of him, it is being discovered that his house of cards had the same foundation.
Using FTT to buy collateral to ask for USDC, buying more FTT to ask for more collateral and keep feeding that wheel to inflate the price of its token is what has made Binance make the decision to get rid of $550 million they had in FTT, the rest a snowball down the mountain... getting bigger and harder to stop.
We'll see how many fall this month and next.
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