There's a fox in the crypto henhouse.
And its name?
FTX
Crypto is under attack from the inside.
And I've been sent some information on how FTX is manipulating,
stealing and backstabbing any competitors in the space,
especially other layer 1 protocols that threaten the success of Solana.
And as we all know, Solana, SBF and FTX,
they're all in bed with one another,
which is good.
I'm--
I'm happy for SBF that someone actually get into bed with him.
But there's more.
FTX is ruining the chance
for the average person to make money in crypto.
They're playing games with people's lives.
And that's not right.
It's time to expose FTX and SBF for what they really are.
Let's get it!
Welcome to BitBoy Crypto!
My name is Ben.
Today, we're going to be talking about some manipulation on the market
that you've got to see to believe.
I was given information, charts and analysis from a reliable source
who wants to stay anonymous for the purpose of this video.
But me, my research team and my fact-checkers,
well, we've checked this out, and the story is legit.
FTX has been pumping up the price of tokens prior to their launch
and then dumping on retail investors
in key projects in the space who are competition for Solana.
Their targets so far?
Whew!
Axie infinity and ICP.
They specifically attack Axie Infinity's Ronin token
and direct attacks on ICP, the project of Dfinity.
So, what is Dfinity?
Well, it's a layer 1 protocol that boasts transaction speeds
that are already twice of Solana's.
ICP can do 11,500 per second and Solana 3,000.
For Ronin network,
well, it's backed by something called Sky Mavis.
And Ronin network's expected to be one of the top layer 1 gaming platforms.
Of course, Solana has very little exposure to the gaming world,
which many people believe, including myself,
this is how we bring the most people into crypto in the future.
But that hasn't stopped Solana.
They want all of the NFT pie.
And FTX, well, they're trying to be the Nasdaq of crypto.
SBF
FTX
Solana
What's their game plan?
Eliminate the competition.
How do you become the tallest building in town?
Well, you don't build a tall building.
You just knock all the other ones down.
That's their method.
So let's talk about what actually happened here with the shenanigans of FTX.
In January of 2022,
FTX listed Ronin perpetual futures contracts.
Now, this was weeks before the token RON came live on other exchanges.
So the day before it launched on all other exchanges,
traders on FTX pumped the price to a place the market couldn't even handle it.
So, what happens?
Launch occurs the next day,
and the retail investors get dunked on.
Absolutely dumped.
You can see on these charts, what happened is insane.
Definitely manipulation.
Then we have May of 2021,
the great top,
the end of the first phase of the last bull run.
So FTX, once again,
they listed ICP four days before it went live anywhere else.
So, what happens?
The price bubble balloons,
and now, all of a sudden, FTX shorts ICP as low as they can.
So, who are the traders that are doing this on FTX?
Well, you have to look no further than Alameda Research.
It's, of course, started by SBF, Sam Bankman-Fried.
What is that?
Well, it's a quant firm that brings in millions every day
with a staff of only 30 people.
So, why do we think they had something to do with this?
Well, they've got quite the track record.
They've made millions of dollars trading what's called the kimchi premium.
Kimchi premium is basically a way to trade arbitrage
for South Korean exchanges versus other exchanges.
It's a currency loophole, basically, that has been exploited for millions of dollars.
We know that the traders involved with Alameda Research
they exploit things.
It's what they do.
Now, SBF, of course, left Alameda Research in 2021.
"Left"
He still owns 90% of the company.
The fact is Alameda Research is SBF's secret weapon behind everything he does.
It's a secret financial weapon.
He uses this along with his money to gain influence with policymakers
so he can shape crypto in the way that he wants it,
not the way that we want it.
He wants to eliminate competition
and remove your ability to make money in this exciting new asset class.
The battle lines in crypto had been drawn.
On one side,
we have the manipulators.
We have the ones that want to see crypto turned into everything it wasn't supposed to be.
And on the other side,
we have the people.
And together,
we're stronger than the elite and we can do this.
Which side are you on?
That's all I got.
Be blessed.
BitBoy out.