Beware They Saying Crypto.com aka Cro Is Next FTX

[Rembrandt]

What is the pratical application of this? Is this why there was so much scrutiny after the stock market crash?

It usually involves being intimately aware of a company financial's health and the market they're in. A mix of knowledge and faith. And if you're talking the current one, there's definitely a lot of money being made on people shorting a lot of media/tech companies. Ones that saw a lot of growth during a pandemic, where people were stuck inside and more engaged with that type of content.


So the companies saw a lot of growth which led to people buying more shares but a lot of people gambled that as the pandemic died down, so would subscribers/retention rate/overall engagement. As they report lower numbers of sales or subscribers, they start cutting content, firing people, etc and people sell


So if you're more intimately aware of a market than most, and can gather data from a bunch of sources to forecast a delay or something before a company announces it, you could short the company and make a lot of money.

 

[mannyrs13]

@mannyrs13 @satireprod @surf

what y'all think? I do have some coins in crypto.com, been holding onto it hoping for an eventual recovery

i have some cro also but on a wallet not the crypto.com site. for me its a 28 day unbonding period so not like I'm affected, cuz it could turn from 1000 to 100 by the time that passes. if you have major coins like btc and eth, move it to a wallet. they been draining funds from Crypto.com since last night.

This looks to be the crypto.com wallet. All transactions going out of various coins. Send what you can to metamask.

Ethereum Transactions Information | Etherscan

Transactions that have been mined and confirmed on the Ethereum Blockchain. The list consists of transactions from sending Ether and the transactions for interacting with a smart contract.

etherscan.io

Far as CRO, could bounce back but who knows. If its too much of a risk, just swap for stable. Depends on how much you need the money.

 

[Tr0yTV]

Nyknyc

 

[Vandelay]

It usually involves being intimately aware of a company financial's health and the market they're in. A mix of knowledge and faith. And if you're talking the current one, there's definitely a lot of money being made on people shorting a lot of media/tech companies. Ones that saw a lot of growth during a pandemic, where people were stuck inside and more engaged with that type of content.


So the companies saw a lot of growth which led to people buying more shares but a lot of people gambled that as the pandemic died down, so would subscribers/retention rate/overall engagement. As they report lower numbers of sales or subscribers, they start cutting content, firing people, etc and people sell


So if you're more intimately aware of a market than most, and can gather data from a bunch of sources to forecast a delay or something before a company announces it, you could short the company and make a lot of money.

I guess I just don't see why this would ever be legal. It seems like a loophole to profit off of the detriment of a company.

 

[Unknown Poster]

FTX is worthless now.
I feel bad for the people who put all their life savings into that...they will not see that money again.



I've never witnessed a currency crash of this magnitude...ever.

I mean, it's very realistic why people are skeptical about crypto.com now. The FTX collapse put a whole black eye on crypto for the time being.

 

[69 others]

nikkas losing real money playing with Monopoly money

They get what they deserve

Best description of all this bullshyt yet.

Years after calling Bitcoin ‘rat poison,’ Warren Buffett just invested $1 billion in a crypto-friendly bank | Fortune

The superstar investor may be seeing an entirely different kind of opportunity in digital financial service providers like Nubank.

fortune.com

yeah crypto is here for good but many coins and companies will fade away

That's a misleading headline. nubank is a growing online bank and one of the largest fintech in south america and was "crypto friendly". buffet investment had nothing to do with crypto. why will he go invest in crypto in brazil when he could have done it in the biggest crypto market in the world.

 

[Rembrandt]

I guess I just don't see why this would ever be legal. It seems like a loophole to profit off of the detriment of a company.

Because it's a gamble. Anything more than that is insider trading, supposedly.

But you're definitely on point about it being exploitable

 

[CoolinInTheCut]

damn this just killed my high

 

[Ghost Utmost]

Whats going on with crypto why are these big companies falling at the same time?

Only so long fake thugs can pretend.

Ponzi always collapses at some point.. cause it's built on lies

 

[Save $ not Hoes]

Was she not correct?

Y’all shyt on astrology, but those transits are accurate for world and life events.

No she wasn’t correct. Crypto ain’t dead, and it don’t take stars to see the value of everything is going bad with a week old prediction

Now if she would have said FTX is going steal your money on this day 4 years ago that be different. Stop being a goofy. Do better

 

[gonnagetit]

Its about to get worst

 

[Gloxina]

Giving yall heads up now

Heard this today.

Another stadium about to be searching for another name lol

 

[levitate]

Only good thing to come out of crypto is the blockchain tech.

Everything else is ponzi trash.

 

[Elim Garak]

Staples about to get them naming rights back lmao.

 

[Geek Nasty]

Whats going on with crypto why are these big companies falling at the same time?

Theres nothing really backing them. At least nothing with any weight behind it besides some pasty white 20 year-olds word.

I’m not on my computer but saw that crypto.com got caught trying to swap assets with another exchange so both could claim to have their assets backed.