5min chapter

Making Markets cover image

Quarterly Market Recap: Q4 2022 - [Web3 Breakdowns, EP.53]

Making Markets

CHAPTER

CZ Announces He's Going to Sell FTX

Sam was getting heat because he was negotiating the digital act, like what Congress would try to pass. When people got wind of a leak draft, they read it and believe that DeFi would be excluded. So then CZ announces on Twitter that he's going to sell. That causes a drop in the token, which causes a crisis of confidence,. Cause a run on FCX. And this point, nobody yet believes that FTX is a fraud. They just believe it's being attacked.

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