domains Are you one of the Million People Owned funds by FTX?

[Robbie]

Let me start by saying I am no crypto expert, I dipped my toe in the water a little over the past few years with a few gains but nothing that you would talk about, however, some domain name investors went big in Crypto as well as other digital assets such as NFT's and reported some amazing returns, however fast forward 12 months and a lot of the cryptocurrency are now worthless or lost a huge amount of there one time highs.

That doesn't mean Crypto is dead or the values won't come back and also some would say if you are long into crypto then now is the time to buy and hold...

FTX of course is a little different being an exchange vs an actual token, however, I suspect the failure of FTX might impact domain names more than we realize not just from domain name investors with funds tied up in the Million+ people who are owned money but also businesses in that space too many of them were buying high-value domain names with some of the cash they were generating from crypto choosing to upgrade to a premium dot com but with capital tied up in the exchange it might hurt the domain industry in the short term, would you agree?

For those who aren't familiar with FTX here is a brief synopsis of them and the current situation.

FTX is a Bahamas-based cryptocurrency exchange. The exchange was founded in 2019 and, at its peak in 2021, had over one million users and was the third largest crypto exchange by volume. As of 11 November 2022, FTX has been in bankruptcy proceedings in the US court system following a liquidity crisis and accusations of fraud.
While details of the crisis are still being revealed, the public concerns began when a 9 November 2022 CoinDesk article stated that FTX's partner firm Alameda Research had a significant portion of its assets in FTX's native token FTT. Following this revelation, rival exchange Binance's CEO Changpeng Zhao announced that Binance would sell its holdings of the token, which was quickly followed by a bank run, collapsing the value of the token. This left FTX in a liquidity crisis in which depositors could not withdraw their funds, and Binance signed a letter of intent to acquire the firm with due diligence to follow, but Binance withdrew its offer the next day. FTX filed for Chapter 11 bankruptcy protection on 11 November 2022

Answer the Poll: Are you one of the Million People Owned funds by FTX?

Read more on Robbies Blog: https://robbiesblog.com/are-you-one-of-the-million-people-owned-funds-by-ftx/11864

 

[GoKaizen]

No crypto.

 

[Andreas B.]

No crypto.

If you are crypto critic, then this video might be for you:

 

[NameInbox]

I've never been involved in crypto, I own only a few crypto domains =)

 

[GoKaizen]

He made money shorting crypto. Smart.

If you are crypto critic, then this video might be for you:

 

[poweredbyme]

If you don't own keys you don't own coins. Chapter 1 begins with it in Introduction to Crypto class. None of the centralized things is safe, including banks.

 

[frank-germany]

I never trust or believe in Crypto….it’s purely hype or is not backed by financial statements like a company and it’s not backed by FDIC and it’s not backed by a government like a country’s currency….ftx just an example people will start losing more trust…..I expect btc.x to go much much much lower and dollars will continue to be strong
Economy is no where near good

if you trust paper instead
welcome

 

[anunt]

GoDaddy and other registrars are like ftx and coinbase.
is there a way to hold domains without these registrars?
This is 2022…shouldn’t have to have a bank or exchanges or registrars

 

[NameInbox]

FTX gets court approval to sell crypto assets​

Sept 13 (Reuters) - Bankrupt crypto exchange FTX received U.S. court permission on Wednesday to liquidate cryptocurrency assets, a move the company said would allow it to repay customers in U.S. dollars and minimize risks related to price volatility in crypto markets.

U.S. Bankruptcy Judge John Dorsey approved FTX's proposal at a court hearing in Wilmington, Delaware, allowing FTX to sell up to $100 million in cryptocurrency per week and enter into hedging and staking agreements that will allow FTX to minimize the risk of price volatility and earn passive income on more mainstream crypto assets like bitcoin and ether.

https://www.reuters.com/technology/ftx-gets-court-approval-sell-crypto-assets-2023-09-13/