Crypto has no idol

xuanling11
Coinmonks
Published in
Nov 15, 2022

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Photo by Senad Palic on Unsplash

Many praise CZ disclosed the FTX fake token $FTT, but he is not a savior.

CZ should do better than send his message about selling his around $500M $FTT and triggering bank runoff from FTX. Lots of retailer investors lost their money after the FTX collapsed.

Nobody questioned his intent and possibly some information he did not disclose before such an announcement.

After FTX collapsed, nobody trusted CEX anymore.

Those CEX CEOs are questionable balance sheets, and those funds that sit in the exchange are also doubtful.

We have no control over seeing any transparency about their balance sheet; crypto is not about centralization. Someone provides crypto services, and you hope they can keep their promise.

Be doubtful.

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