Digging deep into the collapse of FTX

Ladies and gentlemen, I want to write a quick excerpt based on the findings that I have found numbers wise.

Below is a graph and link on Tableau Public showing the closing price and volume of FTT stock stemming from when FTX went public in cryptocurrency trading to as recent as November 22nd, which was yesterday.

If you click on the link above, you will be able trace the numbers in full detail.

Please take note that the closing price is the raw price or cash value of the last transacted price in a security before the market officially closes for normal trading.

The volume refers to the total number of shares or transactions exchanged between buyers and sellers of a security during trading hours on a given day.

Unlike the stock market, which is regulated and centralized; the cryptocurrency market is deregulated and decentralized making it much more volatile to trading. I've learned more about crypto after attending some bitcoin meetups. Just when you have an idea on how to maneuver with crypto, that market will always evolve a lot faster than you know.

Please take note of the big spikes in volume during the range of dates:

• The first big spike involves more people buying into the hype of FTX.
• The second big spike involves a lot people selling all of their FTT stock after reading tweets from the founder of Binance shown above exposing the illegitimacy of FTX, resulting in Sam Bankman-Fried, FTX's founder, to lose a ton of money and resign after not being able to pay back the money to customers while holding their stock.

Always, remember the number one important rule when it comes to investing or trading:

Controversy always sells, unfortunately.

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