A Simple Explanation on Why FTX Went Bankrupt

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4.8 • 1.7K Ratings

🗓️ 1 December 2022

⏱️ 3 minutes

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Summary

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In today's video, Patrick Bet-David talks about the importance of controlling the pace and standing firm on your values.

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Transcript

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0:00.0	It doesn't seem like everything's changing so quickly.
0:01.9	One minute FTX is the company to be a part of 32 billion dollars,
0:05.0	guy raised two billion dollars, Sequoia, BlackRock.
0:06.9	Next thing you know, they go down,
0:08.7	Binance is not given the money, the guy says, I f'd up.
0:11.1	And then they just resign and the company's not filing bankruptcy.
0:14.1	Twitter's going to Twitter blue.
0:15.3	No, we're not going to Twitter blue.
0:16.4	Yes, we are going to Twitter blue.
0:18.0	Market's going up.
0:18.8	Market's going down.
0:20.0	This person's getting elected.
0:21.2	That's such constant change chaos.
0:24.4	It's probably the most unpredictable time.
0:28.3	And a long time where most things cannot be predicted today, right?
0:32.0	Economy, elections, all that stuff.
0:34.4	So in seasons like this, how should you and I react?
0:37.2	Okay.
0:37.9	If you give value from this video, give it a thumbs up and subscribe to the channel.
0:41.6	There's a whole concept of thermostat versus thermometer.
0:45.4	Okay.
0:46.3	A thermometer, the temperature could change this morning.
	...

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