Blockfi files for bankruptcy protection

[rbstern]

Over $1 billion in debts to its three largest creditors that it cannot service. Owed $350 million by FTX. Filing suit to try and gain access to some of Sam Bankman-Fried's personal holdings: An equity stake in Robinhood worth about $500 million, held in a subsidiary of some sort (of course).

Crypto is a wagon train on the Oregon Trail. There's a land of milk and honey at the end of the trail. All you have to do is get there with your scalp still attached.

 

[Cadcom]

Over $1 billion in debts to its three largest creditors that it cannot service. Owed $350 million by FTX. Filing suit to try and gain access to some of Sam Bankman-Fried's personal holdings: An equity stake in Robinhood worth about $500 million, held in a subsidiary of some sort (of course).

Crypto is a wagon train on the Oregon Trail. There's a land of milk and honey at the end of the trail. All you have to do is get there with your scalp still attached.

Trading in thin air doesnt seem to pay what it used to.

 

[letusbuyyourcar]

Most of the videos I watched about the FTX/Crypto Crash said the same thing. If you don't hold it you don't own it."

 

[letusbuyyourcar]

Trading in thin air does t seem to pay what it used to.

Does it remind you of the great .Com boom and bust of the early 00s ? See to ME investing and finance is NOT Seinfeld . You cant have a " Show about nothing" and turn it into something.

 

[eightnsand]

Just wait til the derivatives follow suit.

 

[yardboss1]

Surely no ODT members got caught up in this.

 

[Cadcom]

Does it remind you of the great .Com boom and bust of the early 00s ? See to ME investing and finance is NOT Seinfeld . You cant have a " Show about nothing" and turn it into something.

Yep. Also reminds me of BLM. They made millions off of the gullible as well.

 

[Outlier]

Most of the videos I watched about the FTX/Crypto Crash said the same thing. If you don't hold it you don't own it."

Rule #1 is not your keys, not your crypto.

 

[StuP]

Fundamentally very speculative investments.

 

[Outlier]

Just wait til the derivatives follow suit.

It will be a cycle or two before that happens. The only two blockchains that I am aware of to have derivatives in the typical sense are Ethereum and Terra Luna, with the latter already blown up. You have stuff like wrapped tokens too but unless you are a whale being a liquidity provider and market maker you're just playing roulette.