FTX Appears to Have Stopped Processing Withdrawals, On-Chain Data Show

Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by new2this on Tuesday November 08, 2022 @11:30AM (#33520848)

This comment seems to be focused on the viability of any individual crypto, but that _shouldn't_ matter for the value of a company like FTX.

FTX has value because it has customers, growth, and most importantly: revenue.

If any one crypto goes bust then it shouldn't hurt FTX in the long run, unless they were leveraging that crypto to make unscrupulous bets. That very well could be happening via Alemeda.

So you may be right that this is destined to come crashing down, but it doesn't seem like the facts are proven yet

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Re:FTX Appears to Have Stopped Processing Withdrawals, On-Ch... by twawaaay on Tuesday November 08, 2022 @11:37AM (#33520952)

I can't speak about FTX the company, because I just don't know their business.

I am speaking about crypto in general.

From what I have seen a lot of companies popped up that are purely bound to crypto and so almost all of them will fall when crypto falls. Only very small minority have enough business footprint outside of crypto or will be able to pivot in time to avoid demise if it happens.

[ Parent | on HN ]