In this video, I’m talking about the recent crash of the FTX crypto market. I’m calling out the SmartBrief Finance (SBF) project for their role in the crash, and discussing why I think they need to take responsibility.
First, I talk about how SBF’s project was created to help investors and traders identify potential opportunities in the crypto market. Initially, it seemed like a great idea, as the project seemed to be able to identify market trends with incredible accuracy. Unfortunately, this accuracy was too good to be true, and it was eventually revealed that the data was manipulated, leading to an artificial increase in the prices of certain coins.
When this was discovered, the prices of those coins crashed, leading to the FTX crash. I believe that SBF needs to take responsibility for the crash, as their manipulation of the data was the main catalyst for the crash.
Finally, I discuss a few solutions to the problem, such as better regulation of crypto markets, and increased transparency in the crypto market. I believe that these steps would help to prevent similar crashes in the future, and would ensure that investors are better protected.