FTX, one of the largest components of Sam Bankman-Fried’s empire, looks as though it could now be about to collapse as the FTT token experiences significant sell pressure and Binance decides to offload their FTT holdings.
The crypto bear market has been extremely brutal for many companies, with a series of high profile companies having gone completely bankrupt, and a series of high profile coins and tokens having fallen to zero – now it seems as though FTX could be the next domino to fall.
Some of the most incredible collapses have been those of Three Arrows Capital, the Celsius Network, and Terra. Many believed that the worst days were now a thing of the past, and that the liquidation cascades weren’t to continue.
However, it seems that there are still more companies that are in the firing line, and could soon be suffering.
It looks as though FTT may now collapse
Over the past few days there has been rampant speculation that FTX may have taken out too much leverage and could now be underwater.
Large speculative attacks are being conducted. That excessive leverage can be used to short too. $FTT open interest has 2.5x in last 24 hours, +$100m or so for a small spot market, illiquid free float and more spot selling (CZ) arriving soon. pic.twitter.com/VvmTJAQhEx
— Dylan LeClair (@DylanLeClair_) November 7, 2022
It seems as though FTX took on far too many debts and now may not have the collateral required to pay all of their loans.
This has been worsened by the news that CZ, the CEO of Binance, has announced that he is going to sell the reminaing $500 million worth of FTT tokens that they hold, given that he believes that the company is collapsing.
Calvaria: Duels of Eternity (RIA)
Calvaria is a brand new play to earn gaming project that is changing the space of gaming in the Web3 world, and is currently in its presale stage.
The RIA token can be used in the game to wager against other players, can be used in the marketplace for the ecosystem, and as a governance token for the Calvaria DAO.
Decentralised Autonomous Organisations (DAOs) are a type of organisation that can only exist thanks to the nature of blockchains, and
The project is aimed at bridging the divide between the worlds of Web2 gaming and Web3 gaming, meaning that there is a large focus on onboarding people who aren’t familiar with the world of cryptocurrencies – an area in which many Web3 games have historically been lacking.
Stage 3 – Sold Out!
We're happy to announce that 3rd stage of our presale has been sold out and next stage is officially open!
Stage 4 Is LIVE
30M RIA | 1 USDT = 40 RIA
Don't miss a chance to get RIA at the best price
— Calvaria: Presale is Live! ✨ (@CalvariaP2E) November 4, 2022
The Impact Project (IMPT)
IMPT is a project focused focused around changing the nature of carbon credits by incentivising users of their shopping platform with cash back rewards if they shop with companies that are deemed socially responsible.
The IMPT that is distributed as cash back rewards for those who shop with companies that have been onboarded to the ecosystem.
Currently there are over 25,000 companies that the team has managed to onboard through their affiliate programme, and the number is growing all the time.
When one shops with these companies (which have been vetted to ensure that they are ESG friendly) they can earn IMPT as cash back rewards, which can then be redeemed for NFTs as carbon credits.
Dash 2 Trade (D2T)
Thus far, the Dash 2 Trade platform has managed to raise $5.4m over the course of the last two weeks, meaning that
Outperforming FTT by investing in presales
The three aforementioned projects that may provide higher returns than investing in Sam Bankman-Fried’s FTT are all in their presale phase.
Presales provide an opportunity for investors to capitalise on early-stage projects before they go viral and reach market saturation.
- 13 Best Altcoins to Invest in 2022 – Which New Altcoins to Buy?
- Traders’ Dream Dash 2 Trade to List on LBank – Raises $500k in 24 Hours to Pass $4m
- Carbon Offset When You Shop Using the IMPT Token – $12m Raised So Far in Huge Presale
Dash 2 Trade - New Gate.io Listing
- Also Listed on Bitmart, Changelly, LBank, Uniswap
- Collaborative Trading Platform Token
- Featured in Bitcoinist, Cointelegraph
- Solid Proof Audited, CoinSniper KYC Verified
- Trading Community of 70,000+ Members