FTX Crypto Collapse: Everything You NEED To Know In 13 Minutes

[@adamventure]

Hope everyone is doing okay thru all this craziness with FTX. Our community is here for you!

[@johnsouza5262]

Thankyou Adam I appreciate your video

[@adamventure]

You're welcome I'm glad you liked it!

[@crohnscolitislifestyle]

Great breakdown. Best I’ve seen!

[@adamventure]

Thanks man I appreciate that! I think it helps having the full story in a single video

[@RamRam-jp2kc]

Liked your take on the matter.

[@adamventure]

Thank you Ram Ram glad this was informative, and good to hear from you!

[@kishorevaswani2504]

Hi Adam..... Thanks for all the valuable infor and facts. I have a question. I watched ur videos about setting up the Nano X and I have it all ready to go. Now , I have funds on an exchange platform but I do not see anywhere on the platform to activate the Ledger hardwallet , like on Metamask. How else can I go about linking my Nano X to this platform. I have sent the question to Support and waiting , but since u have probably tested lots of exchanges and wallets , maybe you could shed some light. Thank you

[@sureshr1273]

Could you make a video on xrp and it's future growth

[@Ortundonim]

Hello Adam. Just bought my Ledger nano x and i watched your videos regarding ledger installation. Is there a connection between FTX and Ledger? Ive heard that FTX bought Ledger? Are my crypto at risk? Ty a lot

[@adamventure]

Hey Nadanad, that's a great question! So Ledger had simply integrated with FTX to provide direct trades/sales to your Ledger addresses. That's all it was, they did not lose any assets with the collapse. And absolute worse case, let's say hypothetically they did, your crypto is fully under your control (with your seed phrase) so you could always switch to another hardware wallet. They have no control over your crypto

[@Ortundonim]

@@adamventure thanks a lot for the answer! We just need to have patience, bull market will return

[@Ortundonim]

@@adamventure I have another question if you are willing to answer. If I move my coins through BNB smart chain to my Ledger and lets say (i hope not) Binance will colapse, will I lose my coins?

[@adamventure]

@@Ortundonim of course I'm happy to help! In that case, technically wont lose access to those coins, they'll just become worthless because Binance created, owns, and operates BSC

[@Ortundonim]

@@adamventure yea thats what I thought, many thanks for confirmation. Have a nice day!!

[@bmtenoch8230]

Thank you, hope youre doing well too. Great video!

[@adamventure]

Thanks I appreciate it! I am doing well all things considered

[@PRAISEYESHUA1111]

Immitating your idol Andre Jikh ? 😂🙈😂🙈 you kids crack me up

[@adamventure]

Graham did it first but yeah haha, those guys know how to get clicks

[@DonHousiferBMI]

Thanks as ever for being so clear and honest. I'm so glad I didn't have any assets with ftx despite being tempted by their 8% on the first 10k of any currency. It's kinda nuts but I got out of Hodlnaught a few months before they crashed and moved to Midas, which thanks to your advice I've bitten the bullet on and withdrawn from too. I'll likely be checking out your videos on hardware wallets in the near future as that feels like the safest bet at present. Thanks again 🙏🏼

[@adamventure]

You got it! Its the least I can do in these crazy times, I do feel a little guilt since I had mentioned some of these platforms on the channel. Glad you didn't lose any with FTX or the others and got out like I suggested. Hopefully when this blows over the industry learns its lesson - don't be too greedy!

[@RhettReisman]

No 🔑 no 🧀 Great video man

[@adamventure]

Couldn't have said it better myself. Glad you enjoyed it!

[@skyfall1975]

Exchanges have nothing to do whit Crypto actually

[@vpowerization]

Even if Binance bankrun the crypto will continue.... Banks can't kill US Dollar, Exchanges can't kill crypto! This is the time period when the millions of crypto noobs will learn 2 important lessons 1. there is ONLY one way to suppress the price of a rare asset on high demand: Sell promises instead of assets 2. This is one of the reasons why the best advise when it comes to crypto, is NOT your keys, NOT your coins. Both lessons are painful but necessary.

[@adamventure]

Totally agree, these last have been a tough lesson not to mess with leverage and to only trust yourself with your own crypto

[@womblestacker7993]

Because of Sam I'm £38k down and in big trouble

[@adamventure]

You are not alone my friend, a lot of good people lost a lot of money with this. If you got to the point where you had that much ready to invest in crypto, you were doing something right and I'm sure you can do it again!

[@jarnMod]

I kinda disagree with the whole CZ do this and that thing on FTX. They're competitor, yes, but anyone not selling FTT knowing Alameda is the big hog that creates scarcity and that FTX has a lot of spending so far is an idiot. I didn't hold FTT at all because I don't find FTX a competitive platform to use. They require too much KYC. They support questionable regulations. Their products weren't as attractive enough. So, I didn't hold FTT for it has no utility for me. I did buy FTT to flip it. I bought at 25. I didn't see the CoinDesk article when it was out, but I saw CZ tweeted about selling it. I read skimmed the article. Then Caroline tweeted the price of 22USD. I know at that point that there will be a sell pressure. I know I bought overpriced FTT. So, I cut my lost of that trade. Eat the lost. Open a short on FTT, because I know the momentum of sell pressure - which I expect everyone to know and sell but only some will short - will put the price down. I didn't expect it to go from 22 to 2 tho. But all in all, CZ tweet was not the main reason I cut my lost and short the token. It's that 22 USD, because it tells me I got in at a bad price, and whatever the price considered good must be below 22. When FTX file for bankrupcy, I was eating dinner and I was like ... What? One good thing it I have this habit of spread my risk really really far. Since I don't use FTX in general, my short position was not on FTX. It was on other CEXs. I mean, I don't short BNB on Binance neither. It doesn't make sense to short a token of the platform you're using. So the story you've told mentioned only a few people and narrative is like CZ kills FTX. For me, CZ is as victim as everyone got burned by FTT. One thing he should not be is losing his crypto on the platform - as why would he use any platform but Binance? For me FTX collapses from 2 reasons. 1. Bad management and 2. Inept Executives, especially that tweet that gives the 22USD mark. You know how big that is? That alone tell everyone to short the zhite out of FTT at any price above 22. It tells everyone the top, and how overpriced they've bought the token, if they've bought any. Anyone preparing to buy knows exactly that big sell pressure will come so unless they're inexperienced, they'll not buy at 22, but only buy after it break 22 downward. Experienced trader knows this is the time to short as anything sold over 22 is a guarantee profit. If anyone will or have issue your own crypto token, never ever ever give the price as the issuer. Never end well. Let the market finds their own balance.

[@JP-xq7fo]

FTX was so involved and ingrained with political leaders they were just following walking orders.