this post was submitted on 02 Nov 2023
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I think you're thinking about Celsius. SBF absolutely had his own coin, and it is tantamount to the whole FTX collapse. Their competitor owned a shit load of it, it was called FTT iirc. He then just decided to tweet out that they were selling all their FTT, and then everyone started selling FTT which started a run on the token.
The company also pumped FTT and other tokens value through their hedge fund Alameda research. The man deserves every last day of sentencing.
I think you're right. I must be mixing up all these crypto-based scams.
It's almost like crypto itself is one giant Ponzi scheme?! Forget I said that. It's tHe FutUrE
Also, be glad you didn't put money in Celsius. I have a friend that did for the interest that they were offering. It worked... Til it didn't. He lost $50k.