The Cookout

[Mud City Savage]

I've been hearing that a crypto exchange company called FTX recently declared chapter 11 bankruptcy. Due to this, it kinda had a ripple effect that also took out cryptocurrency called BlockFi as they too filed for bankruptcy recently:

Crypto firm BlockFi files for bankruptcy as FTX fallout spreads

What does this mean for other types of cryptocurrencies? Bitcoin for example has stayed pretty constant at $16,500+ or so. But that is nothing compared to what it was a year ago, at around $50,000-$60,000.

To me, it looks like crypto is finally failing and we're going to see this result in more cryptocurrencies dying out. What do you think?

 

[blackice_ATL]

there were other signs.
-I knew crypto was failing when Meg thee Stallion was selling bitcoin to black people on cashapp. when "regular" people become "hip" to it, it's too late.
-during the pandemic, democrats discussed the idea of handing out stimulus money through a new US cryptocurrency before they landed on checks.
-China is about to launch a cryptocurrency based off their central bank and can be used offline.

For those reasons, I no longer have an interest in crypto. Something big is happening. Money is shifting. and I'm not sure where it's headed. And I personally don't have the finances to play around and find out. lol.