FTX Exchange Drama Continues

FTX scam piece of shit SBF scum

FTX, a crypto exchange founded by 30-year-old Sam Bankman-Fried (SBF), is in crisis. It has filed for bankruptcy, and investors are writing down their investments. Bankman-Fried has resigned from the company.

The situation has left many in the crypto community shaken. It also raised questions about the power of centralized platforms. It is unclear what will happen to FTX’s assets, and whether or not FTX will ever recover. This is a huge event for the entire crypto industry. It could prompt regulators to crack down on the industry.

The FTX exchange was one of the largest in the world.

It has been backed by high-profile investors, including Sequoia Capital, SoftBank Vision Fund, and Tiger Global. The exchange also had a celebrity brand ambassador, Larry David. The company was expected to become the dominant player in the crypto world. It had a huge amount of tokens in its portfolio, which included Solana, a competitor to the popular Ethereum token. The price of FTT dropped by over 90% from its 2021 high.

FTX filed for bankruptcy on Friday.

The news broke after CoinDesk published an article on the exchange’s relationship with Alameda Research, a crypto hedge fund founded by Bankman-Fried. According to the article, FTX was lending high amounts of its own token to Alameda Research. This was a major concern for the crypto community, as the company held a large amount of one asset.

FTX’s bankruptcy is being investigated by the United States Attorney’s Office in the Manhattan district of New York. According to Reuters, Bankman-Fried transferred customer funds to Alameda without telling anyone. This move was the precursor to FTX’s collapse. Alameda Research had a substantial amount of FTX Tokens, and it owed FTX about $8 billion.

The news sent shockwaves around the world. It is estimated that there are more than 1 million creditors associated with FTX. The exchange’s assets can’t be moved without the approval of a provisional liquidator. Its legal team reportedly quit, and its website went down on Nov. 8. A class action lawsuit has been filed against FTX, alleging deception of consumers.

In the wake of the FTX meltdown, many investors are withdrawing their assets out of fear.

Some politicians have called for stricter oversight of the industry. Some big names in the industry are happy to have some scrutiny.

The FTX exchange has been the target of a class action lawsuit, and a provisional liquidator has been appointed by the Bahamian Supreme Court. The exchange is moving its digital assets to a new “cold wallet custodian,” a company that stores assets offline and without remote control. This move is expected to maximize recoveries.

The FTX crisis weakened trust in the industry. Many traders rushed to pull their funds from the FTX platform. The value of the crypto sector fell 12% in one day. The meltdown has left many in the industry worried about the future of crypto. The FTX bankruptcy will likely destroy billions of dollars of wealth, and it could encourage regulators to tighten their screws.

AMD doubles Intel for the first time in terms of capitalization

amd intel war

49 billion dollars. That’s the amount AMD invested last week in its acquisition of Xilinx, a California-based semiconductor giant that initially specialized in programmable SoCs, but is now very diversified. This acquisition allows AMD’s market capitalization to soar to $198 billion, surpassing that of its rival Intel ($193.70 billion as of February 17). A first in the history of both companies.

This increase in AMD’s valuation is also the consequence of a number of shares that has greatly inflated following the purchase of Xilinx: 1,628 billion compared to approximately 1,200 billion previously.

AMD and Intel’s valuation is still far from approaching that of Nvidia

However, with this new valuation, investors’ expectations are also revised upwards towards Lisa Su’s company. As underlined by the specialized site Guru3D, the purchase of Xilinx gives hope for a greater potential of growth thanks to a more marked diversification.

It must be said that until now AMD was mainly specialized in the design of processors and graphics cards for laptops, desktops and servers. Remember that on the x86 CPU market (AMD’s core business) the firm only has about a third of the market share. The rest is controlled by Intel, says Guru3D.

For AMD, the whole issue of buying Xilinx is therefore to expand the field of possibilities … and to establish itself on other sectors. Getting its hands on Xilinx is therefore a smart move by AMD. It is indeed a manufacturer who touches everything.

The brand has been able to establish itself in the sectors of 5G equipment, the Internet of Things, but also in the field of technologies dedicated to autonomous vehicles. Xilinx also has a strong presence in the embedded chips and devices sector, as well as in the networking devices market. These are all areas in which AMD will now be present, at least indirectly.

Note that it is this drive towards diversification that has allowed Nvidia to reach its current market capitalization, estimated at 662 billion dollars. AMD and Intel are far from it. As a reminder, the GPU giant has invested in the field of AI and neural networks, two high-growth sectors.

Holidays: 5 tips to disconnect from your smartphone

disconnect phone on holidays

You’re going on vacation in the next few days, and of course, you’ll take your trusted smartphone with you. Until then, no problem. Except you won’t get away with it because you’re so addicted to your phone! Discover our tips on how to intelligently disconnect from your little handheld computer!

Between Facebook, emails and SMS, you are spending a lot of time on your smartphone. In the morning you consult social networks, in the afternoon you discuss WhatsApp, and in the evening you do all kinds of addictive activities.

Smartphones are addictive. You use as a camera, a notebook, a walkman, a game console and much more. Except now you’re going on vacation, so it’s time to take a break from the screen. How are you going to avoid temptation?

  • Deactivate notifications on your smartphone

Just like looking at your friends’ holiday photos on social networks won’t do you any good because you’re on holiday yourself! So please disconnect from all this and enjoy your trip! The fewer notifications you see on the screen, the less likely you are to click on them.

  • Disconnect your company’s mailbox

To avoid being bothered by emails from your colleagues, bosses or clients, don’t hesitate to disconnect your inbox before leaving. This way, you won’t be tempted to check your latest emails regularly. More generally, you will no longer have any awareness of what is happening at work while you are away! And that’s the purpose of the holidays.

  • Dare to use the airplane mode

If you want to disconnect completely, there’s a much more radical solution. Not everyone will dare to do it, but it’s very efficient. And it will also increase the autonomy of your smartphone: put it in airplane mode, you still can take pictures and listen to music (even in Spotify if you have a paid subscription), on the other hand, you cut all your connections, and the battery stops running out for nothing.

  • Enable automatic replies for emails

It is so easy to avoid clients sending emails while making the recipient of the message want to call you. Activate an automated response. All email clients let you do this whether you’re using Gmail or Outlook. To do this, define your message and a start and end date.

  • Don’t take your smartphone with you everywhere

You’re on vacation, so there are many places where your smartphone won’t do you any good. You weren’t planning on swimming with him, were you? No matter how waterproof your smartphone is, vacations are sacred. And even if it’s waterproof, you could damage it on the beach because of the sand or even worse if it’s stolen.