David Gokhshtein, known as a politician, shared an altcoin that he would buy “as much as he could” to turn the FTX crisis into an opportunity.
David Gokhshtein will hoard this altcoin in the FTX crisis
The large-scale FTT balance sheet of Alameda Research, the trading firm that Sam Bankman-Fried is behind, has catapulted the market into disaster. Shortly after this was revealed, Binance CEO CZ announced that his exchange would sell its FTTs, citing concerns that Alameda might go bankrupt. Later, the entire cryptocurrency market, especially FTX Token and Solana, went into decline. Gokhshtein, a former US congressional candidate, says he will take his chances with Binance amid the FTX crisis.
The crypto phenomenon recently stated that he plans to buy as much BNB as he can “as much as he can” from his Twitter account:
I will just wait patiently and collect as much BNB as I can.
BNB Coin peaked at $400 yesterday after Binance announced plans to acquire FTX. Meanwhile, FTT price found an opportunity to recover from $15 to $18. However, it lost more than 70% in almost an hour after the news of the acquisition. BNB, which Gokhshtein says he will collect, is holding around $300, while FTT price is in free fall below $5.
Meanwhile, Cardano founder Charles Hoskinson said on November 9 that Binance should abandon the purchase. The founding name says that FTX is facing bigger problems in the coming periods.
Sam Bankman-Fried deletes tweets reassuring investors
At the beginning of the above events, SBF, which sent tweets reassuring FTT investors, preferred to delete its shares today. The FTX founder and CEO seems to have taken back his words about the security of client assets in FTX. He removed tweets where he tried to reassure customers that FTX and the funds on the platform were “good”.
As you follow on Kriptokoin.com, the CEO of FTX released four different series of tweets on November 7 addressing investor concerns. He claimed that FTX was “strong enough to cover all client funds.” Bankman-Fried also said the firm does not invest with client funds. However, it stated that it has processed all withdrawals and will “continue to do so.” In a now-deleted tweet, he said, “We have a long history of protecting client funds. This is also true today,” he said.
Some crypto watchers are not too optimistic about future events for those who continue to hold their funds in FTX. Dylan LeClair, senior analyst at UTXO Management, says FTX users are now unsecured creditors:
I do not mean to be a bearer of bad news here. But if you still have money in FTX, they’re gone. You are now an unsecured creditor. The likely outcome is Chapter 11 bankruptcy. Then a class litigation process that took years.