{"id":508974,"date":"2022-11-11T17:00:07","date_gmt":"2022-11-11T14:00:07","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years\/"},"modified":"2022-11-11T17:00:07","modified_gmt":"2022-11-11T14:00:07","slug":"ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years\/","title":{"rendered":"# FTX ex-exec floats &#8216;cool token&#8217; idea amid warning rebound may take years"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2d5d112b37c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2d5d112b37c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years\/#%E2%80%9D_FTX_ex-exec_floats_%E2%80%98cool_token_idea_amid_warning_rebound_may_take_years_%E2%80%9C\" >&#8221; FTX ex-exec floats &#8216;cool token&#8217; idea amid warning rebound may take years &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years\/#Filbfilb_%E2%80%9CIve_never_seen_such_a_debacle%E2%80%9D\" >Filbfilb: &#8220;I&#8217;ve never seen such a debacle&#8221;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years\/#FTX_ex-sales_head_shuns_bankruptcy_%E2%80%9Cboomer_procedures%E2%80%9D\" >FTX ex-sales head shuns bankruptcy &#8220;boomer procedures&#8221;<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_ex-exec_floats_%E2%80%98cool_token_idea_amid_warning_rebound_may_take_years_%E2%80%9C\"><\/span>&#8221; FTX ex-exec floats &#8216;cool token&#8217; idea amid warning rebound may take years &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-e13e51fa>Bitcoin (BTC) and cryptocurrency may \u201ctake years to recover\u201d from the FTX scandal, one industry analyst warns.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/filbfilb\/status\/1591048289008422915\">Twitter thread<\/a> on Nov. 11, Filbfilb, co-founder of trading suite Decentrader, said that the Terra LUNA debacle was itself still playing out.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Filbfilb_%E2%80%9CIve_never_seen_such_a_debacle%E2%80%9D\"><\/span>Filbfilb: &#8220;I&#8217;ve never seen such a debacle&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The crypto industry is experiencing \u201ca clear case of what goes up must come down,\u201d Filbfilb summarizes.<\/p>\n<p>As the fallout from FTX and Alameda Research only begins to become <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent, many industry businesses and associated tokens have been left reduced to a shadow of their former selves.<\/p>\n<p>Amid bankruptcy concerns\u00a0from those with exposure to FTX and investigations from regulators, the outlook looks bleak for the industry\u2019s reputation.<\/p>\n<p>For Filbfilb, FTX-Alameda is itself a product of the implosion of Terra, Three Arrows Capital and others earlier this year.<\/p>\n<p>\u201c1) Most of this all links back to the first 3 AC \/ Celius meltdown,\u201d he began.<\/p>\n<p>He highlighted two other key causes: <\/p>\n<blockquote><p>\u201c2) Businesses in the space compounded their aspirations based on supernormal, parabolic industry growth.\u00a03) Cash is king; cash flows of many entities are down to the tune of 80%.\u201d<\/p><\/blockquote>\n<p>The situation is in fact all too familiar; overly eager businesses create an ecosystem on steroids, which grows too quickly and takes on too much risk. <\/p>\n<p>\u201cPrice, users, cashflow and compounded, cross-collateralized businesses using rapidly declining assets as balance sheet assets with future obligations works when price go up &#8211; its suicide when the tide goes out,\u201d Filbfilb continued.<\/p>\n<p>As such, for the cycle not to repeat itself, it may take \u201cmany years\u201d of restructuring.<\/p>\n<p>\u201cSo yes, im annoyed about the whole thing, ive never seen such a debacle, i understand why we are where we are but it is inexcusable by some of the people involved and they need to be held to account,\u201d he concluded.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"FTX_ex-sales_head_shuns_bankruptcy_%E2%80%9Cboomer_procedures%E2%80%9D\"><\/span>FTX ex-sales head shuns bankruptcy &#8220;boomer procedures&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Feelings are tense for countless investors and businesses with funds tied up in now frozen FTX accounts.<\/p>\n<p><strong><em>Related:\u00a0Hodlers in loss sit on 50% of BTC supply after $5.7K Bitcoin price dip<\/em><\/strong><\/p>\n<p>On Nov. 11, Zane Tackett, the exchange\u2019s former head of international sales, confirmed rough liabilities totaled -$8.8 billion.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tackettzane\/status\/1591047749675651072\">Twitter thread<\/a> of his own, he quizzed users on whether FTX should create a &#8220;cool token&#8221; as a way of restructuring debt instead of filing for bankruptcy in the traditional manner, something he called \u201cboomer procedures.\u201d<\/p>\n<p>\u201cThere&#8217;s no way to paint a pretty image out of these numbers, but when I saw the balance sheet this evening i thought it was going to be much worse,\u201d he revealed. <\/p>\n<blockquote><p>\u201cNow, granted, there&#8217;s a massive hole in liquid assets, there is a pretty big chunk of change in the ventures portfolio.\u201d<\/p><\/blockquote>\n<p>Less than an hour after publication, the survey had accrued 3,100 responses, with 71% calling for token creation.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/c1acc6de-70f1-4bdd-b19a-c969ffa520ca.png\"><figcaption style=\"text-align: center;\"><em><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> survey (screenshot). Source: Zane Tackett\/ Twitter<\/em><\/figcaption><\/figure>\n<p>Such a move would be similar to that of fellow exchange Bitfinex, which in 2016 released its UNUS SED LEO token after it was hacked for $70 million in BTC.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-ex-exec-floats-cool-token-idea-amid-warning-rebound-may-take-years\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX ex-exec floats &#8216;cool token&#8217; idea amid warning rebound may take years &#8220; Bitcoin (BTC) and cryptocurrency may \u201ctake years to recover\u201d from the FTX scandal, one industry analyst warns. In a Twitter thread on Nov. 11, Filbfilb, co-founder of trading suite Decentrader, said that the Terra LUNA debacle was itself still playing out&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":508975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNDdhN2M2MWUtM2ViZS00MTg0LWFkN2MtYTQ5NWMwYTRjNzY4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,135234,4978,117,73785],"class_list":["post-508974","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-ftx","tag-bankruptcy","tag-business","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=508974"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508974\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508975"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}