#FTX #Bankruptcy Will Seem Like NOTHING | This is 10X Bigger!

1. FTX used clients money to take risky bets. Those bets lost as the market fell further.

2. Many companies saw their assets grow as clients saw crypto gaining. Once the trend changed companies problems started showing up.

3. #TETHER is the third largest #coin. It is a stable coin that aims to have parity with the USD. However, it has never been audited. Audit is every 5 years. It’s audit was meant to be carried out last August. This is suspicious having this hesitancy.

Again, if it turns out that its not fully backed then the we have another FTX X ten. This is very #dangerous for the whole #financial #industry.

https://www.youtube.com/watch?v=V57_yJjQv1w&t=1006s