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ASIC And The Collapse Of FTX…

The FTX Story continues to run with reports of missing funds and deceptions. In Australia, ASIC appears to have been asleep again, as we find that the local instance of FTX – who owes money to some 30,000 investors – used a back door method of get a local license to operate.

So once again the financial cop was found wanting!

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Written by Walk The World

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  1. DeFi smart contracts that are permisonless, have multiple audits, contain no admin keys and run without human input are the future
    In all these collapses its always the loans taken out on truely decentralised financial systems which get paid back first because you cannot get lawyers to negotiate with a smart contract, it just liquidates your position

  2. Guys this wasn't a pack of dumb kids gone bad, this is an NSA, CIA FED US GOV DEM TAKE DOWN OF MOST OF CRYPTO just like the way they took down every non-USA-based offshore banking hub they didn't do business with, The United States of America is basically insolvent and is in a fight to maintain the dominance of the dollar in Internation trade US Sanctions, hacks, leaks, threats, provocations, red flag attacks, coups and wars are a tool in the fight to suppress its rivals, Sad but true.

  3. ASIC should keep out of it they give everyone a false sense of security. They are useless and don't provide any protection to consumers they should be disbanded, so investors know they are on their own when it comes to investing in Australia.

  4. Prices will probably fall for everything on bricks. We got a safe haven in Australia. Good education values, nice neighbourhoods. It is worth investing in, just wait to see how the global bit plays out.

  5. Crypto has always been a Ponzi scheme, yet people saw it as a alternative to the fiat currency, banking etc! But it is not regulated or have any government guarantee if it gets in trouble! There is a history of these events, tulip boom bust, Florida land boom, 1890 land boom bust, Melbourne, banks went bust! “If it sounds too good to be true, it probably is”! Have people forgotten Bernie Madoff?

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