CRYPTOCURRENCY | LIFE SAVINGS | INVESTING

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?

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…