A controversial solution was shared to solve the FTX problem, which caught the attention of its creator, Sam Bankman-Fried (SBF). The solution ended up reverberating through the community, with many opinions contrary to the action. On the 6th of November 2022, the FTX token crashed on concerns that the exchange ran out of money. To make matters worse, Binance CEO CZ publicly stated that he would start to unload his position in FTX Token (FTT), causing further declines in the exchange’s coin. A few days later, FTX already announced that it had no money and filed for bankruptcy with authorities. The case shocked the community, which until then had followed the growth of what became the third largest brokerage in terms of volume in the market. With the collapse of FTX, without credibility now, miraculous solutions begin to circulate in search of rekindling the platform.
What would be the way to solve the FTX problem, a solution that pleases the broker’s creator?
Several FTX clients remain at astronomical losses at the Bahamas-based brokerage. Unhappy, they appeal for “miraculous solutions” to try to save their assets, giving public pitacos. One of the miraculous suggestions was shared by Ran Neuner, a Twitter user and cryptocurrency trader. According to him, it is enough to reconnect the FTX and issue new FTT tokens to all customers who have balances blocked on the platform. In his opinion, the simple action would solve the problem and FTX could return, becoming the largest brokerage in the world with that.
“Activate FTX exchange. Issue new FTT token. Distribute token to creditors/depositors. Accumulate 100% of profits for token holders. It will be the biggest exchange in the world and users will be made more than whole.”
Upon seeing the suggestion, oddly enough, the creator of FTX, SBF, liked what he saw and said he hoped that the current managers of the bankrupt brokerage would explore the alternative.
“I continue to think this would be a productive avenue for the parties to explore! I hope existing teams will do so.”
I continue to think that this would be a productive path for parties to explore! I *hope* that the teams in place will do so. — SBF (@SBF_FTX) December 9, 2022
“Fraud of fraud”, say customers who did not like the suggestion
🇧🇷Let’s fix fraud with more fraud“, said one netizen that accompanied the SBF solution to recover the FTX. Another netizen stated that given Sam Bankman-Fried’s mismanagement experience, the suggestion is a bad one. The speeches are just a few that reverberated on “crypto twitter” and demonstrate the total dissatisfaction with the solution proposed by the creator of the brokerage. After the business goes bankrupt and the looting stops, Sam goes through problems with his image. So nothing he’s been talking about has made sense to his former investors, who hope to see him in prison.
“I still think you rotting in prison would be a productive avenue for the parties to explore! I hope existing teams do so.”
I continue to think that you rotting in prison would be a productive path for parties to explore! I *hope* that the teams in place will do so. — Farokh (@farokh) December 9, 2022
