EddieJayonCrypto
14 Nov 22
• FTX only has about one tenth of their debt equivalent in liquid assets, $900M• Kevin O'Leary and other institutional investors are calling for regulation of the space• CryptoCom is being targeted as the next possible exchange to go down, is that right?• Polygon notches another with VRJAM, building...
• FTX only has about one tenth of their debt equivalent in liquid assets, $900M• Kevin O'Leary and other institutional investors are calling for regulation of the space• CryptoCom is being targeted as the next possible exchange to go down, is that right?• Polygon notches another with VRJAM, building a VR-based arena in the CryptoverseThe effects of the FTX collapse is going to be far-reaching, but don't lose sight of other things in the news. Here is what is on my mind today.1. FTX confirms it is holding $900M in liquid assets. That is only one tenth of its current $9B debt. 2. Institutional investors like the famed Kevin O'Leary, who has seen his investment in FTX International go to zero, are calling for regulation of the space. I would agree in that there needs to be regulation to protect against investors looking to leverage industry for more than just investment and adoption of crypto. Think about leveraging, futures, etc. 3. I think CryptoCom is being targeted. First there was scrutiny of its reserves. That, in turn, caused a run on the bank leading to mass withdrawals that seemed to slow due to volume. I think people should take a breather and first look to see if there have been any actions by their chosen platform that would be deemed 'curious'. If not, then you may be the victim of FUD not facts. We all know action stemming from FUD is not good and could actually wind up leading to poor decisions. 4. As per a press release from VRJAM, they have partnered with Polygon to develop a VR-based arena in the Metaverse. This is yet another positive notch in Polygon's belt in a long string of wins.