last november

trading company

Cryptocurrency

Many US giants are gradually filing for bankruptcy.

In particular, FTX, the world's second-largest digital asset exchange after Binance, filed for bankruptcy on Nov. 11. It has had a huge chain effect, as

FTX has about 130 affiliates, more than 100,000 creditors and about 100,000 debts.

$10,000–50,000 million, about 1.8 trillion baht, is the largest bankruptcy in US history.

After filing for bankruptcy, Sam Bankman-Fried

The founder and CEO of FTX also tweeted his resignation, leaving his client and creditor positions.

and appointed a bankruptcy lawyer as the CEO instead

One of FTX's most notable creditors is Temasek Fund.

The Singapore government invested in FTX more than $ 275 million, about 9,900 million baht, resulting in Mr. Lee Hsien Loong, Prime Minister of Singapore.

Many questions were asked by the Singapore Parliament, causing Ms. Ho Ching, wife of the Singapore Prime Minister.

Former Temasek CEO

Must post on Facebook that

“The loss may have been caused by mismanagement by the company without professional oversight.

It is our disgrace to make such an unforgivable mistake.”

Last November 29 BlockFi, a major cryptocurrency deposit service provider.

which had deep ties to FTX, subsequently filed for bankruptcy.

With more than 100,000 creditors, $1 billion to $10 billion in liabilities and assets, BlockFi stated that we are exposed to significant risks to FTX and its associated companies.

including any obligations owed by Alameda to us, assets held by FTX.com, and amounts withdrawn from our credit facilities with FTX.US.

News reports indicate that FTX before filing for bankruptcy had assets of more than $ 30 billion, more than 1 trillion baht, with about 130 affiliates entering the bankruptcy process at the same time.

Including Alameda Research and FTX.US, while BlockFi subsequently filed for bankruptcy with a value of $ 4.8 billion, about 172 billion baht. An interesting point is that Mr. Sam Bankman-Fried

The founder and CEO, an MIT graduate, is also the CEO of FTX and CEO of Alameda Research.

Before Bankman-Fried, the CEO of FTX filed for bankruptcy.

There were news that FTX had transferred coins to a mysterious wallet, Mr. Miller, a consultant at FTX.US, later confirmed that there had been an “unauthorized transaction”. Company wallets to wallets that are not under the control of the FTX board, according to the news.

$600 million of customer funds stolen from the system and converted into Ethereum

(Another cryptocurrency) and WBTC (Bitcoin based on the Ethereum blockchain).

Ren Protocol Platform Moves Approximately $30 Million To New Wallet

FTX is not the first lawsuit

There is the theft of customer money in the board, including the owner of the board secretly using the customer's money without the customer's knowledge.

Therefore, there is a question that Blockchain technology is the most secure in the world.

Is it really transparent and secure?

Why is the money in the system easily stolen by hackers? Why is the platform owner able to take the client's money for personal use, both with encryption, consensus and decentralization?

The initial FTX investigation made it clear that Sam Bankman-Fried

FTX founder and CEO lacks transparency

This makes it difficult to assess debt and repay debt.

There is currently a massive seizure of FTX assets, creditors are worried.

Mr. Bankman-Fried

to escape from the United States

All of his transactions go through the Bahamas tax haven.

Anyone thinking of investing in

Cryptocurrency should have to think 80 times a day to get rich quickly without having to work hard. It's not real.

"The Wind Changes Direction"