FTT-pumper, mens kreditorer holder fast i håbet om en FTX-genopstart

Hele kryptoverdenen blev overrasket, da den af Sam Bankman-Fried ledede, meget lovende, kryptobørs FTX indgav konkursbegæring i den anden uge af november. Nyheden var enorm for branchen, og dens indvirkning var også stor.

Som angivet i den 23‑siders konkursdokumentation havde FTX mere end 100.000 kreditorer, med forpligtelser i størrelsesordenen US$10‑US$50 milliarder. Bankman‑Fried, den berømte ejer af FTX, trådte tilbage som administrerende direktør for børsen, og næsten 130 tilknyttede virksomheder var en del af konkursprocessen. Disse virksomheder omfattede Bankman‑Fried’s kryptohandelsfirma Alameda Research og FTX.us, børsens amerikanske datterselskab.

Det, der chokerede hele branchen og endnu mere, var at FTX gik fra en værdiansættelse på US$32 milliarder til konkurs inden for blot få måneder.

Der er sket meget siden da. Et par dage efter, at virksomheden indgav konkursbegæring, rapporterede den om uautoriseret adgang til sine konti. Der var dog modstridende rapporter, der antydede, at bruddet var et insider‑job, mens mange mente, at det blot var et desperat hack mod FTX. Analysefirmaet Elliptic anslog, at næsten US$500 millioner manglede på børsen.

Med mange op‑ og nedture siden firmaet gik konkurs, er en ny mulighed for en FTX-genopstart angiveligt på bordet. Spørgsmålet er, om det overhovedet er muligt, eller om det blot er et nyt forsøg på at leve i benægtelse? Svaret er endnu ikke kommet.

Imens lad os se på, hvad der er sket hos FTX for nylig.

En plan af Ran Neuner

On December 8th, 2022, Ran Neuner tweeted the outlines of a plan to attempt the revival of FTX. For those who are not sure of Ran Neuner, he is the co‑founder and CEO of Onchain Capital, a Blockchain Investment Fund and Advisory Service.

However, his real fame stems from the fact that he launched Crypto Trader, the first global cryptocurrency show on television, featured on CNBC. Ran continues to be the host and executive producer of this popular show, which places him as one of the most discussed crypto influencers in the world.

Neuner’s plans start with issuing a new FTT token, followed by its distribution to creditors/depositors. He further pushes for accruing 100% of profit to token holders, and this way, as per him, FTX will eventually become the ‘biggest exchange in the world again, and users will be made more than the whole.

The plan gained momentum after the dislodged CEO of FTX, Sam Bankman-Fried, came out supporting it. He replied to Neuner’s idea, adding his own opinions to it. Bankman-Fried said that he considers Neuner’s idea a “productive path for parties to explore.”

Indvirkningen på FTT’s bevægelse

Neuner’s proposal and Bankman-Fried’s validation of it acted as a tailwind. Between two particular time slots on the same day of December 9th, 2022, the price of FTT went up from a low of US$1.33 to a high of US$1.91. Not only did the price go up, but the trading volume, too, went up from less than 6.5 million to nearly 29 million.

As per the latest available numbers, while the 24‑hours volume keeps surging, the price has somehow normalized to nearly US$1.6, with a 24‑hour volume of more than 72 million.

Hvad kan vi udlede af det?

The crypto industry has so far been in equal splits, both over Neuner’s proposal and the sudden surge in FTT price and 24‑hour volume. While some see it as a silver lining, many consider this to be an attempt to deny what has already happened and gone beyond the investor community’s control.

Many of Neuner’s past actions have been contended and vigorously challenged in the past. For instance, earlier, he was accused of dumping an altcoin while promoting the same to his audience.

A YouTube video posted by Crypto Exposed claimed that Neuner had sold Alien Worlds tokens on the same day he performed a live interview with one of the project’s team members. NeuNer had outrightly rejected the allegations as FUD.

In another instance, Larry Cermark, an investigative reporter and a former writer/researcher at Diar Newsletter, accused Neuner of failing to disclose that he was an investor in a fraudulent ‘blockchain’ project he promoted on Twitter.

Neuner denied these allegations as well. He termed the claims made by Cermark ‘ludicrous’. He further clarified that he had “only ever invested “north of $300 000″ in Blockchain Terminal and never offset tokens onto other parties.”

Irrespective of the validity of these allegations against Neuner, it would not be right to make long‑term assumptions on which way FTT would go based on his proposals and Bankman‑Fried’s approval of it.

Another crucial aspect would be to remember SEC’s new guidance published as recently as December 8th, 2022. Since the guidance is seen as an aftermath of agencies failing to protect investors from potential bankruptcies, such as FTX, its impact might offset the gains made by FTT in the short run.

SEC’s new guidance of crypto risks

According to the new guidance released by the SEC on Thursday, companies are now required to disclose to investors their exposure and risk to the crypto market if they are issuing securities.

More specifically, companies would now have to incorporate crypto asset holdings and their risk exposure to the FTX bankruptcy and other market developments in their public filings because – as mentioned at the very beginning of this article – FTX had more than 100,000 creditors.