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FTX Collapse 'Worse Than Enron' as Contagion Spreads & Blockfi, USDC & USDT Also Face Collapse

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FTX was the second largest CRYPTO Currency Exchange and is now in Chapter BANKRUPTCY with over 1 Million Creditors. The failure of FTX has caused CONTAGION in the sector. BLOCKFI is now reported to also be BANKRUPT & GEMINI is experiencing a run on its assets. In this video I provide more details on the FTX situation, look at the risks to the Crypto markets and discuss whether this could be a BLACK SWAN Event that causes another GLOBAL FINANCIAL CRISIS.

For specific details please check out the CHAPTER list below.

Thanks for watching and please LIKE and SUBSCRIBE.

Chapters:
0:00 Intro
3:22 FTX
9:05 FTT TOKENS
13:43 PROPRIETARY TOKENS
15:30 BLOCKFI
16:54 FUNDRAISING & VALUATION
21:35 BLOCKFI FUNDRAISING
22:41 CASH FLOW
25:00 CONTAGION
27:49 SUMMARY & CONCLUSION

#china
#Belt&Road
#globalrecession
#globalfinancialcrisis
#russia
#Evergrande
#China
#Recession
#Zhenro
#Bonds

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20 Comments

  1. Kamikoto has several special offers going on right now and is offering my viewers an extra USD50 off on any purchase with discount code JOEBLOGS. Go to to https://kamikoto.com/JOEBLOGS to get your Kamikoto Japanese steel knives today 😁

  2. I don’t think crypto failing is a Black Swan event at all. Warren Buffett and Charlie Munger said crypto was nothing but funny money with no intrinsic value a couple of years ago but it has taken awhile for people to realize that.

  3. The imbeciles who put a pension fund's assets into FTX should be fired, fined, and prosecuted.

  4. I'm lately being told the WEF is going to outlaw cash and force the world into digital money solely. Is this the help I've been praying for? I don't want to go digital. I prefer cash.

  5. All cryptocurrencies are built on the idea that there's a bigger fool out there, somewhere, who will give me real money for the crypto that I paid real money for. I think we've reached peak fool.

  6. CHAPTERS?
    I want the whole show about The Bahamas 10 on Amphetamine where is the popcorn!?!
    Ah, Kniffes. Kill Bill vibes 😂

  7. Let the contagion spread. I did not sell in 2008 and recovered fine. I'm not selling now no matter what happens.

  8. The peak valuation of Cryptocurrency was not a result of money flowing into crypto. It was in fact a result of a relatively small number of transactions inflating the overall valuation. For example, if there are 1 billion xyz tokens that I invent, and I manage to sell 1 of them for $1, then the theoretical valuation of the rest of my stash is $1B. In truth however, only $1 of real money has actually been invested. In reality, only a few tens of billions of real money has gone into crypto currencies, and most of that value has been drawn back out by paying real-world wages, and paying for electricity. The complete and total collapse of all crypto will have relatively little impact on the greater economy.

  9. Finally subscribed. Always enjoy your take. Incredibly useful, and as factual as I've experienced. On a side note, love your decor. Tasteful, well presented, fantastic audio and video. What more could one hope for. Kudos

  10. This crypto market reminds me of the comic book market; sellers pulling prices out of the air for graded books.

  11. Thank you for your excellent explanation of the current crypto situation, bringing in ponzi schemes and fantasy football made some good comparisons, I still thing the the whole thing is a bunch of smoke and mirrors and the people selling them no better than fraudulent bankers.

  12. Thanks a lot Joe for your lucid explanation, now I finally know what the FTX fiasco is all about

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