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5 sats \ 0 replies \ @freetx 23 Nov 2022 \ on: Bitcoin is fine and this FTX crisis is good for us bitcoin
The most telling (and least talked about thing) of the FTX fiasco is that they had exactly 0 BTC on their balance sheet. None. The firm didn't own a single bitcoin.
What does this tell us? Well lots....tells us a bit about the goblin-duos view of bitcoin, however more importantly it tells us they didn't hold bitcoin because it was harder to manipulate the price of it rather then using a collection of useless low-liquidity shitcoins. That is: scammers prefer not to use bitcoin.