1.” What is Crypto me Scam – FTX Scandal Explained” 

"Crypto me Scam - FTX Scandal Explained"

Ek do saal pehle aapke dost, colleague ya phir kissi nazdik ya dur ke rishtedaaron ne aapko zaroor kaha hoga ki aapko crypto mai invest karna chahiye, and how it is the next big thing.Kahin na kahin aapko FOMO (fear of missing out) aur YOLO

"Crypto me Scam - FTX Scandal Explained"

(you only live once) ka waasta bhi dia hoga…lekin, acha hua apne FOMO aur YOLO ke chakkar mai CRYPTO mai zyada dilchaspi nahi dikhai, nahi toh aaj aap unke saath OH NO! karte dikhai dete…Lekin agar inn logon ne aapke saath WhatsApp group mai, call par ya face-to-face arguments kiye the, toh boss, ek phone call toh banta hai, especially after the crypto bust of the FTX exchange which is nothing but Crypto’s own Lehman moment….

Crypto waise toh 2010 se hi India mai hai, lekin kahin na kahin kaafi smart investors ne shuru se hi isse duri banaye rakhi. The reason? Well, jab ussey zyada earning opportunity reliable aur legal investment instrument mai hai, toh koi kyun crypto mai andhere mai teer maare. Jee haan, trusted by experts, analysts and going by this year stats, stock market can offer more stable returns and even recover greatly in a volatile market.

Chalo dekhte hain kaise hua FTX ka bubble bust

2019 mai Silicon Valley born aur MIT educated Bankman-Fried, aka SBF ne crypto exchange platform FTX shuru kia with perks like low trading fees and advanced options for traders. FTX ko banaya gaya tha taaki woh futures, leveraged tokens, aur OTC trading ka fayda de sake.

The mission was to solve the futures exchanges’ crippling flaws that are holding the space back and move the derivatives space towards becoming institutional-grade.FTX ka apna token bhi hai jo FTT ke naam se jaana jaata hai. Waise toh FTT ne FTX ko 2020 mai $350 million ka profit diya hai lekin ab yeh major trouble mai hai aur pichle 7 din mai 93% se zyada down hua hai.

The reason.....?

November 2021 mai CoinDesk ne ek report mai FTX ke liquidity ko question kia aur uske baad Binance ke CEO ne apna $530 million worth FTT ko liquidate kia. Iske baad customers bhi withdraw karne lage aur 72 hours mai kuch $6 billion withdrawal huya. Next, FTT kuch 32% gira aur situation kaafi kharab hui, lekin phir, kahani mai aaya naya twist jab CEO SBF ne announce kia ki Binance, FTX ko kharidne jaa raha hai.

Lekin ab pichle hafte Binance ne announce kia ki wo iss deal se piche hatt raha hai – citing findings during due diligence, as well as reports of mishandled customer funds and the possibility of a federal investigation. 

Yeh news ke aate hi FTT ekdum se down ho gaya aur SBF ne ek hi din mai apna 94% net worth gawa dia. Iss diwaliya ke baad, unhone apne industry rivals Coinbase ko bhi approach kia lekin kuch hua nahi, aur fir finally thak-haar karke unhone Friday ko bankruptcy ke liye file kar dia…itna hi nahi unhone apne CEO ke position se bhi resignation de dia hai.

Waise toh unhone apne tweets mai debt aur high customer withdrawal ka reason dia hai iss barbadi ka, lekin Reuters ke report ke hisaab se yahan dusra angle involved hai. Well, woh yeh ki SBF ne FTX ke customers fund ko bina kisiko bataye apne crypto firm Alameda mai transfer kiye the….jab yeh company losses mai aa gayi thi.

Aur ab yeh sab scam ke baad, FTX ke high-profile investors bhi piche hatt rahe hain – Sequoia jisne $213.5 million invest kia tha, ab apna saara ka saara investment zero kar raha hai

Apne dekha hoga ki iss May mai crypto market ko kuch $2 Trillion ka nuksaan uthana pada tha, aur ab yeh FTX drama ne investors ko aur bhi pareshan kar dia hai. Socha kya ho raha hoga chotte aur bade, dono investors ke saath. The situation is quite alarming especially ab jab recession ka darr hai.

Unfortunately, JP Morgan analysts aur kaafi analyst ke hisaab se cryptos day of reckoning has arrived,  aur ab yahan se investors ko kaafi satarak rehna hoga jisse Bankrate.com ke analyst ne kaafi saral aur seedhe shabd mai keh dia hai,

“…as an investor you need to seriously question your investing if your investment seems to be evaporated in a week’s time. The prices are entirely based on sentiment and belief in the future of crypto ... If that belief goes away, you've got nothing."

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Aur waise bhi, ‘quick earning schemes’ aur aise related earning opportunities, aksar paiso ko badhate nahi hai balki drain hi karte hain…Ab crypto ke downfall se nahi toh crypto firm FTX ke downfall se kaafi kuch seekhne ko milta hai….

23 thoughts on “1.” What is Crypto me Scam – FTX Scandal Explained” 

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