Hi HODLers,
Quick message and reminder about the crazy situation we are in.
GET OUT OF CRYPTO.COM
You will thank me later. The entire organisation is shady and I am a customer (just for the Credit Card to be honest).
I did not have time to publish my "short-seller" thesis (Yes I do short the hell out of this shit coin) BUT I just wanted to show some information you might find interesting.
$FTT before it went to shit was traded mostly on FTX. It is the exchange's coin so it makes sense right?
BNB is mostly traded on.... Binance!
KCS is mostly traded on... Kucoin!
Crypto.com is mostly traded on... "it's complicated"
If Crypto.com spends 10x more in sponsoring/marketing than competitors but is not even the main exchange for its own coin and has a shitty real volumes for other main pairs (BTC/ETH...).
How did they get all this money?
My main thought is that they do provide staking (higher APR than competition btw) and that they have been dipping their hands into those to pay withdrawals. As these lock-ups will come to an end, users might withdraw their coins and... this is when shit hits the fan!
Time will tell.
Stay safe,