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FTT

FTT update 04feb24SOOO... it iz a great manipulation through da newz, its so unhonest imo, bot it workz. price goez down (and I lost some also, damn) and we are now in buyin' area. Consider the structure, I can count two optionz: FIRST iz a red numbaz, AKAI in japanese :) diagonal+WXY+diagonal\impulse. Its not looks like an Impulse, so I suggest Endin' Diagonal. SECOND iz yellow and backup variant, zigzag with Triangle (in that way I need to recount Wave (A), but its possible to make an multiple ZIGZAG there. thrid also iz here, az always - its a scam and we all die) but I hardly doubt it. OH YEAH BTW - coz Wave (3) was extended, correction till Wave 4.of.(1) iz possible (green line) AND yeaa -we need some divergence on high timeframe (4h+) to be sure that option 3 will not work :)
Long
by zikkuratt
2
FTX Exchange Confirms No Relaunch Ahead In a shocking turn of events, $FTX, once touted as a promising cryptocurrency exchange, has officially abandoned its efforts to restart operations. The company's decision comes amid months of negotiations with potential investors, all of whom were reluctant to inject the necessary funds to rebuild the beleaguered exchange. $FTX's downfall has exposed a trail of deception, with founder Sam Bankman-Fried convicted on fraud charges, revealing a troubling lack of infrastructure and responsibility behind the scenes. The Unraveling of $FTX: The revelation by $FTX attorney Andy Dietderich paints a grim picture of the exchange, labeling it an "irresponsible sham" orchestrated by a convicted felon. The inability to secure sufficient investment underscores deeper issues, as it becomes apparent that $FTX lacked the foundational technology and administration required to sustain itself as a legitimate business. The fallout from these shortcomings has left 9 million customers in the lurch, facing potential losses running into the billions. Bankruptcy Proceedings: $FTX's decision to opt for liquidation instead of a restart signals a turbulent end to a once-prominent player in the cryptocurrency landscape. With over $7 billion in recovered assets, the company aims to repay its customers in full, though complications arise as the repayment will be based on cryptocurrency prices from November 2022, a period when the crypto market was mired in a prolonged slump. This decision has sparked dissatisfaction among customers, who argue that using outdated prices shortchanges them, especially considering the significant rise in Bitcoin's value since November 2022. Legal Battles and Customer Dissatisfaction: The legal battle surrounding $FTX intensifies as founder Sam Bankman-Fried faces sentencing on March 28 after being convicted on seven counts of fraud and conspiracy. Meanwhile, customers expressing frustration over the use of 2022 prices face a setback as U.S. Bankruptcy Judge John Dorsey overruled their complaints, citing the inflexibility of bankruptcy law. Despite the clear discontent among users, the road to repayment remains uncertain, with $FTX emphasizing the need to thoroughly investigate legitimate claims before disbursing funds. Conclusion: The $FTX saga serves as a cautionary tale for the cryptocurrency industry, underscoring the importance of transparency, responsible management, and regulatory compliance. The fallout from $FTX's demise not only highlights the risks inherent in the volatile crypto market but also raises questions about the viability of other platforms. As the cryptocurrency landscape evolves, the $FTX case will likely be scrutinized for lessons on preventing future instances of fraud, deception, and the resulting turmoil for users and investors alike.
Short
by DEXWireNews
FTX's Remarkable Turnaround: Cash Reserves Double to $4.4 BilBankrupt crypto exchange $FTX has witnessed a remarkable financial turnaround as it strategically unloads its crypto holdings, doubling its cash reserves to an impressive $4.4 billion within just two months. The Journey to Financial Recovery: $FTX's bankruptcy estate has been on a strategic mission to fortify its financial position by shedding crypto assets. According to Chapter 11 monthly operating reports, advisors overseeing the process successfully sold crypto from the FTX group's four largest affiliates, namely FTX Trading, Alameda Research, West Realm Shires Inc, and Clifton Bay Investments. This effort resulted in a substantial increase in cash reserves, surging from $2.3 billion in October to an impressive $4.4 billion by December 2023. Key Entities Involved: West Realm Shires Inc, the holding company of FTX's U.S.-based entity FTX.US, and Clifton Bay Investments, a company associated with FTX Ventures, played pivotal roles in this financial maneuver. Alameda Research, a significant player in the crypto space, also contributed to the initiative. The strategic decisions made by these entities have not only bolstered FTX's financial standing but have also raised questions about their broader impact on the crypto market. Crypto Outflows and Legal Developments: Since gaining approval to sell its crypto holdings in September, the FTX bankruptcy estate has been actively managing its assets. Reports suggest that FTX's wallets have been transferring funds to other exchanges while unstaking substantial amounts from crypto staking platforms. Notably, the FTX estate has been linked to nearly $1 billion worth of outflows from the Grayscale Bitcoin Trust (GBTC) in the initial days of the trust's transition into an exchange-traded fund (ETF). Legal complexities have also marked FTX's journey, with Alameda Research voluntarily dismissing a lawsuit against GBTC issuer Grayscale. The lawsuit, initially filed over an alleged "improper redemption ban" on GBTC shares, adds an intriguing layer to FTX's overall narrative. Challenges from Customers: Despite the positive strides in recovering value through liquid assets, $FTX faces challenges from some customers who contest the valuation of their claims. The current methodology pegs the value of customer funds to the asset prices at the time of FTX filing for Chapter 11 Bankruptcy. Given the significant surge in Bitcoin's price, up 150% since that date and currently trading at around $43,072, some customers are raising concerns about the fairness of this valuation approach. Conclusion: $FTX's journey from bankruptcy to doubling its cash reserves highlights the dynamism of the crypto market and the strategic decision-making within the industry. As the exchange navigates legal complexities, customer challenges, and market dynamics, the crypto community watches with anticipation to see how $FTX's recovery efforts will continue to shape the landscape of the digital asset space.
Long
by DEXWireNews
FTX's Rocky Road to RedemptionNavigating the Aftermath of a $8 Billion Fraud Case" The collapse of FTX in 2022 sent shockwaves through global financial markets. The once-prominent crypto exchange faced an $8 billion fraud case, resulting in a cascade of events that not only shook investor confidence but also sparked a series of legal battles. Now, FTX is taking a bold step towards redemption by liquidating its crypto assets to repay former customers, marking a pivotal moment in its journey to recover from the aftermath of the crash. The "Sell-to-Pay" Strategy: In an effort to reduce its staggering debt and regain trust, FTX is adopting a "sell-to-pay" strategy. Reports from Bloomberg indicate that the embattled crypto exchange is offloading assets related to cryptocurrencies, aiming to generate a substantial cash reserve. The group's cash hoard has already doubled to $4.4 billion by the end of 2023, showcasing a determined push to settle outstanding debts and rebuild its financial foundation. Ongoing Legal Battles: FTX's path to recovery is not without hurdles. Legal disputes stemming from the $8 billion fraud case loom large, with the majority of the exchange's assets lost as a result. Despite the setback, FTX is gearing up to file lawsuits in a bid to recover every penny spent during the crisis. If successful, the potential recovery of billions of dollars could be a game-changer for the debt-ridden exchange operator. User Struggles and Repayment Tussles: Since the 2022 crash, FTX has been grappling with efforts to strike deals with its former customers. Investors who had their accounts frozen during the collapse have engaged in prolonged battles to reach agreements. A key point of contention has been the terms of repayment, with former users pleading with judges to alter regulations they deemed unjust. The struggle between FTX and its users reflects a tug of war, symbolizing the challenges faced in rebuilding trust within the crypto community. Market Ripple Effect: The collapse of FTX reverberated beyond the cryptocurrency realm, creating a ripple effect in global financial markets. Concerns over dubious financial assessment methods and FTX's close association with Alameda triggered a wave of customer withdrawals, sending both companies into bankruptcy. The cryptocurrency market, valued at less than $1 trillion after the crash, lost billions of dollars. The stock market, too, traded in the red for weeks, with investor sentiments denting for an extended period. CEO's Verdict and Individual Wealth Wipeout: Following a month-long trial, the CEO of FTX was found guilty of accusations related to the crash. This individual event resulted in the wiping out of approximately $26 billion in individual wealth, as reported by Reuters. The CEO's conviction added a layer of complexity to FTX's already challenging journey toward recovery. Conclusion: As FTX navigates the aftermath of its $8 billion fraud case, the exchange is employing a multifaceted approach involving asset liquidation, legal battles, and attempts to rebuild user trust. The impact of FTX's crash on global financial markets serves as a cautionary tale, highlighting the interconnectedness of the cryptocurrency space with broader economic landscapes. Only time will reveal if FTX's restructuring proposals and legal pursuits will lead to a successful resurgence or if the shadows of its past will continue to cast a long-lasting impact on its future.
Long
by DEXWireNews
FTT UPDATE 18jan24well hi there my greedy friendz! just quick update and idea in general, I watched the cartoon Gintama (I love anime, yeah) and glanced at the FTT chart and, as in Japanese animation, saw an interesting twist: FIRSTLY, adhering to the old plan, we are in the Wave B of ABC correction and its a Mr.T, az I can see at MACD and RSI indicatosz behavior. Now Mr.T. is being formed with an exit upwards, after which we will go down to buy zone (preferably) SECONDLY as a backup plan, the correction could have already been completed and we are growing upwards through the Zigzags of the Leadin' diagonal (no matter ZZ or DZZ) - and its BAAAD COZ I WAS THE GREEDIEST PERSON I ADMIT AAAGGGHHH - my entry iz about 3.5 damn it!!! breathing heavily THERE IZ A THIRD OPTION actually - look clearly and boost if u find it so, well, as Elliot bequeathed, don't wishful thinking, analyze the structure- that's what I'm going to do. Orange color - ALT count. Ideaz are clear, will see what will be next, untill then TAP DA BUTTON if u UNDERSTAND what I mean or spare some coin in signature if u don't :) - I will eat at least
Long
by zikkuratt
17
FTT/USDT bullish momentum From demand? 👀🚀FTX Today Analysis💎 Paradisers, direct your attention to #FTTUSDT, currently nestled in a demand zone and brimming with potential for a bullish upheaval. 💎 Amidst the market's ebb and flow, #FTXTOKEN recently grappled with resistance at $3.3487, sparking a liquidity rush above this level, which then spiraled into a steep decline. However, the tide seems to be turning, with #FTT garnering bullish strength in the demand zone at $2.9298. Should it robustly anchor itself above this level, we could witness a spirited ascent, eyeing the ambitious supply zone target at $4.7940. 💎 On the flip side, if #FTT finds itself wrestling to stay afloat above the $2.9298 demand mark, it's time for a tactical pivot. We might then set our sights on a bullish resurgence from a strategic lower foothold at $2.7099. Keep a keen eye here, as a slip beneath this point could unfurl the sails for a significant descent, steering the #FTT journey into deeper waters.
Long
by MyCryptoParadise
FTT Long - But not yet - look for the right entry!We can see in the 4h Chart, FTT is in an downtrend. On the daily chart i dont see today not an uptrend or something like that. i think we drop to 2.9 - 3.1 before a next pump is going on. So stay tuned for in the next 2 weeks for the right entry on the lower levels (M1 and M2). Entry from 2.9 - 3.1 or maybe a little bit lower to our 800 Ema 2.7. (To soon to say it right) Then we can go up to 8$ easy and more, but i will make an update to this chart when its starting!
Long
by CryptoChrrizzo
14
FTT update 12/12/23: fresh look at old @#$@at old COIN ofcourse :) but u got the point ANYWAY, thanks to mr. @Anoinvest I decided to look at the question from the other side and weigh the pros and cons arguments of the bullish scenario for FTT. pros: bullish mood, falling dominance of bitcoin, ETH in correction (ending diagonal). cons: 1dft divergence on FTT, too weak leadin' diagonal, very short Wave 4 of (1). there are two options here now: 1. bullish. the major correction iz over, C of 2 iz placed and there be no more prise for 2$ for FTT, rocket iz launched. All we can do is buy on the correction in zone I (and the minimal target of this correction iz complited) it CAN the price may go lower, but it MUST not 2. bearish. My older opinion, number II zone. I will buy some based on option 1. and will buy more IF it reaches 2$. if u are homeless... just... buy a house... mneeeh
by zikkuratt
FTT update 27.12.23: The #*i@ originDo you know what I dislike the most? Corrections. These tricky zigzags, abstruse combinations and treacherously dangerous variations 1-2. Especially when the market seems bullish. More than that, I don't like all kinds of influencers, with subscribers of 5,000+ people, who interfere with rational thinking. Actually, this time it turned out that way (last time I listened to the "expert" from BIG TIME(you can see this in my post about bigtime)). They throw you off the right course and it's annoying. BUT that's enough, I'm going back to the basics. if you follow my FT review, you may have noticed that I considered 2 options: bullish and correction to the $2 zone. I'm coming back to this idea, a $2 correction, through a FLAT. Look at the graph, you can see everything there. do the math yourself, if you know Elliott's theory. If not, then follow the drawing. The attractive madness of the ancients is growing and their voices are being heard more and more vividly in the mouths of hamsters. I'm buying an alts, they say. We'll see. I also bought and will buy more, but... below :) PEACE! WAR! Neutrality!
Short
by zikkuratt