FTT
Article
FTT is a recurring concept in the Astral Codex Ten archive, appearing 2 times across 2 issues between November 16, 2022 and May 26, 2023. The archive places it in contexts such as “Exchanged-based coins like FTT are garbage”; “users continuing to ‘invest’ in FTT, the platform’s native cryptocurrency”; “getting people to “invest” in FTX’s native cryptocurrency FTT”. It most often appears alongside Alameda Research, Bahamas, FTX.
Metadata
- Category: Concepts
- Mention count: 2
- Issue count: 2
- First seen: November 16, 2022
- Last seen: May 26, 2023
Appears In
Related Pages
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- Alameda Research (2 shared issues)
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- Bahamas (2 shared issues)
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- FTX (2 shared issues)
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- Sam Bankman-Fried (2 shared issues)
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- SBF (2 shared issues)
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- Wall Street (2 shared issues)
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- wallstreetbets (1 shared issues)
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- 2013 Financial Services (Banking Reform) Act (1 shared issues)
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- 80,000 Hours (1 shared issues)
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- 80,000 Hours podcast (1 shared issues)
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- @AutismCapital (1 shared issues)
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- @eigenrobot (1 shared issues)
External Links
Source Context
Recovered passages from the original issue text. When the raw archive preserved outbound links inside the source passage, they are listed directly under the quote.
LET ME REPEAT THIS FOR EVERYONE AGAIN: Shitcoins are bad, and you should feel bad if you trade them. Get the fuck out of the shitcoin casino you dumb ass gamblers! Solana is garbage. TRON is garbage. Exchanged-based coins like FTT are garbage. Coins with fucking dogs faces are garbage. Bitcoin is the only cryptocurrency you should hold. Maybe ETH. Hedge your bets there. You need to CONTROL YOUR OWN KEYS. Don't lend your coins out to charlatans promising you 5%, 8%, 15%, or 20% "risk free" returns. They are all scam Ponzis. There is no such thing as risk free 20% returns. It doesn't exist. Stop chasing it. If you don't control your private keys, it's not your crypto. If you trust an exchange based in the Bahamas ran by a jabroni who thinks he needs SIX MONITORS, you are in for a bad time. I've been in cryptocurrency since 2010 when BTC was 81 cents. I lived through the MT GOX implosion. I have had more crypto stolen from me in hacks and exit scams than you probably have ever even seen. Learn from my experience. Listen to what I am saying. TWELVE YEARS now I have been in crypto. This too shall pass. Fuck all these frauds stealing everyone's shit. We will all be better off with them out of the industry. However, you all have to learn from this shit. CONTROL YOUR OWN KEYS! Stop gambling on shitcoins. You are being used as exit liquidity for idiots.
SBF, much like Ponzi, was desperately in search of something that would actually make his operation profitable, as SBF wasn't nearly as successful as he portrayed himself to be: according to bankruptcy professionals managing the entities that SBF helmed, between Alameda Research and FTX, he posted a net loss of $3.7 billion from inception to 2021. Raiding customer deposits – and getting people to "invest" in FTX's native cryptocurrency FTT – gave them the liquidity to keep operating.
Inline links: net loss of $3.7 billion from inception to 2021