Crypto wipe out: how Sam Bankman-Fried’s FTX took $200bn off crypto market

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$200 billion has been wiped off the cryptocurrency market in just three days. Bitcoin has taken a big hit - and FTT, another popular crypto token - is down 90% in less than a week. So what's going on in the world of crypto? PGMcNamara reports.

Bitcoin has taken a big hit – and FTT, another popular crypto token – is down 90 percent in less than a week.

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PGMcNamara Who cares?

PGMcNamara It was always when, not if.

PGMcNamara People have woken up to the fact it’s not money.

PGMcNamara The last year in crypto isn't surprising. New fools bought into crypto during the pandemic, when they had time and money to waste gambling on get rich schemes. Now they are poor again so they cash out and find their investment was in nothing. Ponzi does as it does.

PGMcNamara The Ponzi Pyramid is collapsing? Rest assured the 1st in were the 1st out and the late arrivals can fight over the scraps.

PGMcNamara I just don't understand Bitcoin? It's not a real currency?

PGMcNamara Don’t tell me that shit coin is a hoax 😩🙈😩

PGMcNamara 🤑

PGMcNamara The bank have been ripping people of since they where set up but hat some one else doing it..IMF & BANK OF ENGLAND INCLUDED

PGMcNamara The con is collapsing The game is up

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Binance chief says near collapse of FTX ‘severely’ eroded confidence in crypto industry\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT. Anyone who puts money into crypto deserves to lose the lot - there is no asset to it whatsoever- so in turn is worthless - it’s a con and a fad Nice to call a pyramid scheme an industry. Which confidence? They are scammers and nobody can trust them anyway.
Source: FT - 🏆 113. / 51 Read more »