The recent Blood bath of the Crypto Market cost my friend her life savings

Shall I blame it on Sam Banksman Fried the owner of FTX and Alameda Research?

Elvie Lins
4 min readNov 14, 2022
cypto chart bearish market, FTX downturn
Screenshot of a candle stick chart for 24 hours time frame. Image design on Canva by Elvie

Who is FTX and Alameda Research?

FTX is a cryptocurrency exchange built by traders, for traders. FTX offers innovative products including industry-first derivatives, options, volatility products and leveraged tokens. We strive to develop a platform robust enough for professional trading firms and intuitive enough for first-time users. Source

According to their website:

Alameda Research is a leading principal trading firm. They use internally developed technology and our team’s deep crypto expertise to trade thousands of digital asset products, including all major coins and altcoins, as well as their derivatives. Source

Many of my circle of friends depend on the income they make from trading cryptocurrencies. If you heard about Futures, Spot, or Margin Trading? Yeah, those kinds of weird stuff my husband doesn't even understand.

This type of trading is in the company like FTX, Binance US, Coinbase Pro, and Coinsph in the Philippines or maybe Blockfi in the UK.

These company called Crypto exchanges where you can deposit and then trade (buy and sell) in different categories such as spot or Futures trading.

The most dangerous one is doing Futures trading. I think it is.

A quick overview for better understanding, to get started owning cryptocurrencies, you need to create a digital wallet. A good example of this is the Binance platform. Personalize and only dedicated to you is an address of Bitcoin, Ethereum, etc, wallet addresses you can create.

The signup process is very simple, you can go directly to the website or download their app.

What is spot trading in crypto?



Elvie Lins

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