If This Happens Soon Then Crypto Prices Could Start to Recover

By November 22, 2022The Sandbox
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FTX recover

Crypto prices have been absolutely hammered recently thanks to SBF’s mismanagement of the FTX exchange, and its unusual relationship with his hedge fund Alameda Research. Nevertheless, there are some who still hold out hope that prices could recover if SBF is somehow able to save the cryptocurrencies markets by raising the $8 billion required to fill the hole.

Can SBF raise $8 billion to help markets recover?

SBF has stated that the most important thing that he can do for the FTX community and the crypto industry is to raise as much as he possibly can over the course of the next two weeks: explaining “this is all that matters for the rest of my life”.

However, even for someone who believes himself to be one of the greatest fundraisers in the world, its a lot to ask for, and may be made increasingly difficult by the contentious position that he now finds himself in.

1. Loses $8 billion of customer funds in less than a week

2. Steals $600 million and fleas the country

3. Gets caught

4. Apologizes

5. Tries to raise more money https://t.co/Uo7EzkmIfr pic.twitter.com/JdH9ri8vyM

— Jordan F┃Stock Trader (@FT__Trading) November 16, 2022

Most significantly, SBF is now no longer the CEO of FTX thanks to stepping down to file bankruptcy, so he will not be able to make much of an impact on the company going forward. His ideas that he might be able to raise such a significant amount of money are almost completely delusional – it would have been extremely difficult for him to be able to do this even if he wasn’t likely heading to prison.

This moron @SBF_FTX is so delusional that his bio still says he is the CEO of @FTX_Official.

He can tweet 19 individual letters but he can’t delete that from his bio?

Nice. pic.twitter.com/XeSA47zUkj

If anyone is looking for a saviour in a criminal and fraudster, they would be better-served looking elsewhere.

Dash 2 Trade could have preventatively helped market participants

Dash 2 Trade is a brand new trading platform that hopes to position itself as the “Bloomberg terminal of crypto” and to bring a range of new features to holders that they haven’t traditionally had.

Traders using the platform wouldn’t have needed to recover from the FTX fallout, since they could have prepared in advance for the collapse: there were many clues that FTX would have fallen, and the nexus of technical and social analysis, with news pieces embedded as well, would have made it much easier for traders to take defensive positions. Some traders may even have chosen to short the FTT token, and would have profited handsomely.

TARO

TARO is the native token of the brand new RobotEra metaverse, which is aims to rival preexisting hegemons such as the Sandbox and Decentraland.

In this metaverse, users take on the role of a robot and are able to create their own cities and interact with other other robots, and to earn P2E rewards for participation.

Moreover, they are able to vote on the future and development of the project through the RobotEra DAO, which aims to decentralise the governance of the project moving forward.

The TARO presale is currently underway, with the price of the token currently being sold at $0.02, but this will rise to $0.025 at the next stage of the presale.

Relevant news:

  • Early Access Presale Live Now
  • Powers Crypto Analytics Ecosystem
  • Solid Proof Audited, CoinSniper KYC Verified
  • Trading Community of 70,000+ Members

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