Reading pen work｜It is the blessing of "ghosts"! Review of FTX Thunderstorm Incident・

I wrote down the review and conclusion of this FTX thunderstorm incident piecemeal, and adopted the method of "saying what comes to mind" to list the points. It is relatively lacking in context when reading. Please bear with me!

No further digging ❌

As one of the writers who edited the " Chain Learning Currency Circle Daily ", I read a Coindesk report in thesecond on -chain data analysis of the 2022/10/27 daily report, which was about the largest increase in the crypto market in the past 15 months. single-day short liquidation. Among them, the liquidation amount of the FTX exchange exceeded 519 million US dollars, which was much higher than the 71 million US dollars of the second OKX exchange. The gap between the two was as much as 7.3 times. Could it be that the people who play contracts on the FTX exchange are less skilled? Or is there something hidden beneath the surface in "The Water Is Deep"?

Crypto exchange FTX recorded over $519 million in short liquidations, the most among its counterparts, followed by OKX at $71 million and Binance at $46 million. Some on Crypto Twitter remarked the move was unusual.

I didn't even think about it when I read it. In hindsight, I just want to be alert to myself. I must develop more sensitivity to news, analysis and judgment skills, and know how to extend it to further DYOR to dig more.

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Slow response❌

For investment, we should be careful about FOMO (Fear of Missing Out). As for divestment, it is not necessarily a bad thing to respond to FOMO after hearing some troubles. It is better to earn less than to lose the principal.

Before Thunderbolt, two people around me felt that FTX was "weird" and expressed in the small group that they would withdraw funds, but I didn't take their actions seriously at the time. Later, FTX really prohibited users from withdrawing funds, and it was only later that I tried to withdraw cash for the first time in the morning of 2022/11/10, and it was smooth and unimpeded?

It turned out that when I wrote the article " Guigui Wallet Phantom " in September, based on the relationship between the expanded article content (second edition), I directly registered the "FTX" account through the built-in guide in the Guigui Wallet App. This "FTX" defaults to FTX US instead of FTX Pro . Since then, I have regularly recharged this account without thinking, but gradually forgot my "FTX" nationality. It turns out that I am an "American" rather than an "international".

In short, it can only be said that it is the blessing of "ghosts", and luckily escaped. Lack of conscious risk awareness, strictly speaking, I have to be classified as the victim of the FTX thunderstorm incident.

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Don't put "time" in the same basket⭕️

This is the only place where I have done better.

I still remember the UST/LUNA crash in May, and I was also a small affected person. The above part was the LUNA/OSMO liquidity pool of Osmosis, a decentralized exchange (DEX). After the incident, he had to wait for 14 days to be released, and he could not do anything urgently , so he simply released him directly.

The review at that time was written in the article that I dispersed assets, but put "time" in the same basket. Since then, I have been particularly sensitive to the matter of "tied" funds (the concept of fixed deposit). Later, I had the opportunity to come into contact with the wealth management products of the two platforms of AAX and Steaker. Regardless of their safety, as soon as I saw the word "tied", the lessons of the previous Terra incident would flash in my mind. I want to spread the "time" Risk, let’s pass those high interest rate opportunities first!

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At present, I still have some funds "tied up", which is the kind that is directly pledged (staking) on the public chain with a hot wallet. The main force is placed on $ATOM and $OSMO tokens... Of course, there are LikeCoins!

I also recharged the cold wallet that lost power earlier, exchanged some bitcoins, and just put them in for storage, so I can be a HODLer.

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