Shit happens.
A year in crypto feels like a decade in the stock market.
This year in crypto, we have LUNA/UST meltdown, 3AC and Lending CEFI platforms going under, and now we have a top tier FTX exchange in liquidity crisis? And not to mention those protocol hacks we see now and then on DEFI platforms.
I thought June was like the bottom for crypto, and the worst was already over. And then FTX happened. Honestly, I thought it was all FUD. But with a ‘anything can happen in crypto’ mindset, I managed to withdraw most of my assets out before withdrawal was halted.
I was also lucky that I off ramped 70% of my funds back to the bank before this shit happened. Cause I’m not entirely sure how I would do that now without FTX. I know there’s Gemini and Crypto.com, but I haven’t really used those to off ramp before.
What next? Well, I was running some gridbots, and unfortunately because market went south yesterday, I now hold a bag of ETH and BTC. I don’t see market recovering soon. We still don’t know to what extend the Alameda blow up is. Until then, I’m just going to explore what I can do with my ETH on arbitrium network, hopefully to farm some tokens, if and when arbitrium decides to airdrop tokens. ;P
And if you hold any crypto, you have to follow CT (crypto twitter) for the latest rumors, news, to save your bags. If you don’t know who to follow, here’s a list https://twitter.com/i/lists/1476992161409376269 created by @zachxbt that you can follow.
Until then, stay safe. And go touch some grass.