🔥 "VEIL FALLS" OF FTX: Built in 3 years, collapsed in 3 days & Lessons for Investors (Newcomers to crypto should read to understand how brutal the market has been 😎) Founded in 2019, under the leadership of Sam Bankman-Fried, FTX became an exchange platform twitter.com/gm_upside/status/1...

A Glamorous Inspirational Story: “From Zero to FTX” Sam Bankman-Fried (SBF) - Founder of Alameda Research Fund came up with the idea of an exchange. Only 20% chance of success due to lack of human resources, fierce market competition

🗽 From here, FTX is like a "bright star" of the crypto market, a symbol of the American dream: from zero to a valuation of 32 billion USD! FTX also invested heavily in brand promotion, spending 135 million USD to name the stadium FTX Arena in Miami, cooperating with

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🌟FTX is hailed as the pride of financial innovation Sam was named the youngest tech billionaire by Forbes Magazine at that time. Everyone thought FTX was invincible and called SBF a “crypto genius”. The truth is that success came too quickly.

A nightmare in just 9 days On November 2, 2022, CoinDesk revealed that Alameda Research (also owned by SBF) was weak, its main asset was FTT – created by FTX, which was nothing more than “self-printed coupons”. It is not unreasonable to say that 50% of FTT Token are owned by

The Battle of Two Empires: Binance and FTX November 6, 2022: Binance - a major competitor of FTX announced that it sold all of the FTT they held worth more than $500 million USD. The selling pressure from CZ and the community on Alameda and FTX had a big impact. The price $FTT plummeted, as if both

🤝Efforts to save FTX Before sending the signal to Binance, SBF sought opportunities from billionaires on Wall Street, Silicon Valley, other crypto exchange , investors like Justin Sun. 👀 Except for Justin Sun, Sam was rejected by all the other bosses.

Unveiling the secrets of the “glittering castle built on the sand” Sam has spent lavishly, from buying expensive real estate in the Bahamas to pouring hundreds of millions $USD into building his brand and supporting political causes. ❄️But that's just the tip of the iceberg

The secret core is: FTX and Alameda are almost one, with no clear boundaries. Sam and his team secretly used customer funds for their own purposes while promoting FTX as the “world’s safest exchange” with a “superior” risk management system.

A comprehensive drama staged by the “masters”. But “man proposes, God disposes”. Sam’s brainchild was caught up in heavy investment losses. 💸 Alameda bets big on high-risk projects like Voyager

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🔎 The root cause of the collapse Since 2021, the market has matured, traditional financial funds have joined with strong capital and superior technology, causing Alameda to lose its competitive advantage. FTX's liquidity is large but it is too dependent on Alameda,

The root cause is operational and financial loopholes, poor management, lack of organization, and lack of risk management. ⚠️ Flashy marketing hides internal chaos, causing loopholes to grow larger and larger, leading to bankruptcy. Ultimately, SBF is the center

Doubts about CZ’s public statements, instead of handling it discreetly, amplified the panic, raising questions about the motive: to protect the market or to eliminate competitors? ⚠️And is CZ the “mastermind” behind the nightmare that sank FTX in 9 days? In fact, the decision

What is left when the hero suddenly turns into a criminal? ⚠️Millions of dreams shattered: About 8-10 billion USD of customer money "evaporated". Heartbreaking stories appeared everywhere. The incident not only caused financial loss but also left emotional pain

The truth is revealed to the public, leaving a stain on tech “heroes”. Sam’s case has the public asking about other “heroes” in the tech world: are they hiding similar secrets? The market continues to plummet,

🇺🇸 FTX from a symbol of the American dream turned into a nightmare that no one wants to experience. The story is a warning to each of us about the deadly glamour. Nothing is perfect. Covering up the misuse of that user's money

🤔 So, each of us should choose to research carefully before investing money. Fundamental analysis to XEM if the project team is trustworthy, is their plan feasible? ✨ Look at the price chart through technical analysis, feel the market's breath and

⚔️ There is no mercy in the arena. There is no need for sweet lies in investing. And...Nothing is “too great to fail”! x.com/gm_upside/status/1914160... Author: Nguyet Minh - @Moswitch_ Hope you guys support @gm_upside with a like & retweet😍