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FTX, what will happen next?


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Posted

The Website and the app is still not accessible. 

Users can't login to the website. The Website shows 503 Error which is commonly used for Server not reachable or under maintenance. The Website and the app are down for more than 48 hours now. 

Users can't see their Balance and their Trade History. 

It is unclear what will happen with the open future positions.

Withdrawals are no halted. 

Clients need to expect to wait long to receive the funds. It's as well likely that a (great) part or all is lost. 

Posted

According to Bloomberg Sam Bankman-Fried said in an Interview with Odd Lots that there is a Box that has value only because other people put money in it.

Seams that money was used and spend on some crypto projects that only have very little value left. 

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