Financial encyclopedia

There is a saying in the circle that playing with coins belongs to Zhao. Zhao is Zhao Changpeng's Zhao, the founder of Coin 'an, and one of the youngest Chinese richest people in the world. The acquisition of FTX by Binan this time can be described as printing.

It's a myth that playing coins belongs to Zhao and the coin circle lasts for ten years in one day.

An and FTX are two giants in the currency world. As far as customer trust is concerned, it can be said that they are the eldest brother and the second brother. Big brother has been sitting in half of the country, trading on other platforms in the currency circle.

It's not as good as the money security family. This time, it's like a commercial war movie. First of all, Kincoin Media first announced the possible shortage of FTX funds, pointing out that there is no native currency of the platform.

The foundation, like the US dollar, can be printed as much as possible, creating an excuse for selling. An re-cooperated with the announcement to throw out the original FTX coins in his hand. The market panic quickly, FTX assets

The balance sheet has rapidly evaporated by 90%, just like a bank's withdrawal. Even if the bank itself is stable, all customers can withdraw money together in a short time, which can blow up a bank.

FTX first sold his belongings to meet the withdrawal, but after half a day's support, he still couldn't cope with the crazy sellers in the currency circle, even some speculative short-selling forces, and finally he could only reach out for help.

To raise funds to solve the bankruptcy crisis. An Coin naturally became the ultimate white warrior, although he had the intention to imply that FTX was a hollow old man, and he also had a share in selling FTX native coins. But in the end

He is also the one who paid for this hot potato, which can be said to be a typical routine of commercial warfare. Finally, FTX boss would like to publicly thank this old rival for his salvation/acquisition.

This incident also has two inspirations for the currency circle.

FTX's Wall Street background, I believe, will contribute to the legal development of currency security, and its influence will be further expanded to the compliance level.

The other is as big as FTX, but it can also be short of liquidity in the short term. Investors believe that it will continue to move closer to currency security.