Would you invest in FTX 2.0?

[bbc.reporter]

If there was an exchange that issued their own token similar to how FTX has done and it buys back their token from the market using a meaningful percentage of their revenue, would you invest in this token?

Also, let us create an assumption that this exchange has very honest developers who are very much respected by the community and their exchange operation is transparent which can be verified by everyone.

[mikel_012]

If they have a good product and a lot of volume, of course!

BNB is up 20% in the last month and they are the token of an exchange, it goes up because its one of the biggest with the most volume and products in the crypto ecossystem. It's like buying the stocks of a growing company.

The problem with FTX was the scam they did with user funds, not their token.

[Oshosondy]

What caused FTX to downfall was because of the exchange shady things which Binance CEO at the time, CZ let people know about. So if an exchange is transparent and not misappropriating their users money or coins, there is no problem. What people want are transparent platforms that do not misappropriate users coins.

[Darker45]

No problem. I may invest in their token just as I may invest in a pointless meme coin and other shitcoins or overpriced yet useless NFTs. But it would all be for the money. If it brings me profit, why not? I'd just take advantage of its potential, and that's it.

The problem with this scenario actually is the assumption, the assumption that a centralized crypto exchange has honest developers and its operation transparent. At most, that's wishful thinking. FTX once had this image. Sam once had this image--a simple man, an effective altruist whose business is geared toward helping humanity.

[God Of Thunder]

I think people have already learned from FTX. There is no need to invest in FTX 2.0. Exchanges and business owners usually promise a lot of things, but if they decide to scam you, you cannot do anything. Based on your description in the OP, I assume people would agree to invest in such a project. But when it comes to a company like FTX, which has collapsed once, I don't think people would take the risk and invest again in this company. Personally, I won't even use their exchange. Forget about their token or anything. I believe most people think this way. They won't use FTX anymore.

[bhadz]

Just for the context that if they're going to be just as FTX 2.0 obviously hell nah! But we can't determine on which is going to be the second version of them from the beginning. The utilities of exchanges are still a good coin to have when they've got the volume and they're quite popular. And having that said that if it's made by known people and reputable in the scene, it's one of the reason why people invests and that's because of trust and reputation. And with all of the factors that you've said, then, I'll give it some spare to invest with.

[bbc.reporter]

What caused FTX to downfall was because of the exchange shady things which Binance CEO at the time, CZ let people know about. So if an exchange is transparent and not misappropriating their users money or coins, there is no problem. What people want are transparent platforms that do not misappropriate users coins.

What caused FTX's downfall were Alameda Research's loans that used the exchanges' FTT token as collateral. The token did not have a very large and liquid market and when Alameda Research's overleveraged trades were going into liquidation, Sam began sending user deposits to Alameda to fund those trades.

There was a chance the downfall of FTX would have been avoided if CZ loaned money to Alameda to fund their trades, however, what did CZ do? He commanded the dump of Binance's share of FTT and announced that he will not help FTX heehehe. There was a fight between CZ and Sam already on social media before this.

[Apocollapse]

Unfortunately I'm someone who can't forget thing easily.

I won't invest in FTX because the business model is same, still a centralized exchange, still prone to get hacked, nothing change. How can I trust them when everything is the same? I won't buy any kind of promise better cold storage, multiple encryptions etc.

It's different if I got scammed in Bitcoin, I would examine whether I scammed through buying from fake exchanges, person, etc.

[avp2306]

If there was an exchange that issued their own token similar to how FTX has done and it buys back their token from the market using a meaningful percentage of their revenue, would you invest in this token?

Also, let us create an assumption that this exchange has very honest developers who are very much respected by the community and their exchange operation is transparent which can be verified by everyone.

On early phase if they show promising movement and they are doing great things to fulfill their promises then yes, there's good chance that we could earn some profit by investing on their token.

But I won't deal with them for long term because we already know the consequences brought up by doing this due to FTX collapsed incident. I don't want to experience losing my money that's why I'm more careful looking at those possibilities to invest on those tokens.

They are good for short term since  Bitcoin still the best for long term.

[albon]

They are good for short term since  Bitcoin still the best for long term.

We don't know how the token will react to the market, and how investors and the crypto community will regain trust in the new token after the massive losses caused by the original token and platform, or simply ignore it as if it never existed.

As for me, I wouldn't risk a single dollar on FTX 2.0 or any other token based on a centralized exchange. These tokens are influenced by any news related to the exchange itself. We've even witnessed BNB's sharp drop in the past when CZ was arrested.. And when it comes to FTX, it’s absolutely impossible for me to ever use that platform again. What happened was a nightmare that has already destroyed the brand name forever.

[Z-tight]

Transparency and centralized exchanges are hardly found in the same sentence. It is impossible to know what is happening behind the scenes, who knew sbf was misappropriating customer funds and running the service to bankruptcy. Buying tokens like the one you are talking about is simply like gambling, people who don't mind would buy it, probably with a small amount of money and see what happens.

[bbc.reporter]

@Z-tight. I very much agree. I was only trying to make an argument that if it was very much possible for FTX 2.0 to be transparent for their customers, would you invest in FTX 2.0?

In any case, I ask this question after I have read this article. It appears that FTX 2.0 might not be a CEX, it might be a DEX hehehe.



Asked Grok, ChatGPT and Gemini to Rank the Perp Dex Derby Top 10

I used Grok 4, Gemini 2.5 and ChatGPT 4o to analyze the publicly available information on 10 Perp Dexs in what I am calling the "Perp Dex Derby".
 
VCs are calling it the CLOB wars which personally doesn't make sense to me because the first word in CLOB is centralized and we're talking about DECENTRALIZED exchanges. So yeah, Perp Dex Derby sounds better to me. Sue me.

In this exercise I did not alter any raw outputs from Grok, Gemini, or ChatGPT. I just put them into Google sheets to organize for a prettier output.

Read in full https://x.com/satoshiheist/status/1950289674498457871

[bbc.reporter]

If the speculations and rumors on there is a new centralized exchange is insolvent after the big dump occurrence on October 10 is real, this might bring the discussion and the storyline on the need for more decentralized exchanges in the cryptospace.

I speculate that there are developers who are very much aware of this and some of them are beginning to develop their old DEXs and rebuild them to become better. They are also going to give the revenue of the DEX to the holders of the DEX token. This might be the next big storyline?



Aerodrome developer Dromos Labs will launch a new protocol and token in the second quarter of 2026 in a bid to supplant Uniswap as the dominant decentralised exchange in the Ethereum ecosystem.

The new protocol, Aero, will simplify the arduous process of swapping tokens across different blockchains and prove more efficient at luring the investors who provide liquidity, according to Dromos Labs executives. That liquidity, in turn, will allow Aero to offer crypto traders better prices than its competitors.

Aero will also launch on Ethereum, putting it in direct competition with Uniswap on the blockchain where it has long dominated.

Dromos’ announcement came just days after Uniswap leadership proposed a major overhaul of the protocol’s token. That overhaul includes the long-debated “fee switch,” an upgrade that would divert a portion of protocol revenue from liquidity providers to tokenholders.

Read in full https://www.dlnews.com/articles/defi/aerodrome-devs-target-uniswap-with-new-ethereum-protocol/

[noorman0]

-snip-
I speculate that there are developers who are very much aware of this and some of them are beginning to develop their old DEXs and rebuild them to become better. They are also going to give the revenue of the DEX to the holders of the DEX token. This might be the next big storyline?

The golden age of DEXs actually began with the emergence of Uniswap. So, I believe this is the narrative some DEX developers are trying to revive, capitalizing on the Oct. 10th dump, not to mention the rumors of CEX bankruptcy if they turn out to be true.

This is simply a narrative cycle; the decentralized industry always needs a scapegoat to fall back on the slogans and hype "not your keys, not your coins," "we need more decentralization", and so on. Unfortunately, even half of DEX users don't understand the true benefits of decentralization. They mostly come just for the incentives and airdrops, then everyone forgets about them three months later, until the next disaster.

[NotATether]

If Bernie Madoff made another investment program, would you put your money in it?

That is exactly the kind of scale of fraud we are talking about.

Anyone who deposits money into such a platform is just asking to be rugpulled.

[avp2306]

If Bernie Madoff made another investment program, would you put your money in it?

That is exactly the kind of scale of fraud we are talking about.

Anyone who deposits money into such a platform is just asking to be rugpulled.

Its called financial suicide if they invest on I also think same level of scheme made by that person and these what they called FTX 2.0

If they are considering to trust and think about those scams will never happen again I think those people think that way have low IQ.

Since normal people would provably go away and learn a hard lesson on those scams they made. So for sure that there's still a huge chance that same scamming situation will happen again once FTX collect substantial funds to their new investors.

[bbc.reporter]

If Bernie Madoff made another investment program, would you put your money in it?

That is exactly the kind of scale of fraud we are talking about.

Anyone who deposits money into such a platform is just asking to be rugpulled.

It appears that you did not read the assumptions argued when I created the thread. Also, it appears that you are making an assumption that an exchange is something similar to a ponzi scheme?

You read what I have asked again and give us another reply. There were assumptions given and these assumptions are very important. You can argue that might be impossible, however, that will be for another discussion.

[NotATether]

It appears that you did not read the assumptions argued when I created the thread. Also, it appears that you are making an assumption that an exchange is something similar to a ponzi scheme?

You read what I have asked again and give us another reply. There were assumptions given and these assumptions are very important. You can argue that might be impossible, however, that will be for another discussion.

Still, an exchange whose market cap is mostly just its own token's supply is not one that should be used.

You'll be surprised how many exchanges try to cook the books like this, but those are mostly small exchanges we don't really hear of, whilst FTX is an example of a big exchange that managed to get there using those accounting tricks with its token price.

[bbc.reporter]

@NotATether. However, it can be argued that an exchange with an own token is creating value for the token especially if it is doing what Binance is doing where revenue on the exchange is being used to buy the BNB token.

If I remember correctly FTX was also doing something similar on their token FTT. If we compare this on other cryptocoins on the market there is nothing behind them except speculation. Bitcoin can be argued as something like this.

[noorman0]

@NotATether. However, it can be argued that an exchange with an own token is creating value for the token especially if it is doing what Binance is doing where revenue on the exchange is being used to buy the BNB token.

If I remember correctly FTX was also doing something similar on their token FTT. If we compare this on other cryptocoins on the market there is nothing behind them except speculation. Bitcoin can be argued as something like this.

And in practice, they do more than just create value, which is just the initial work. They have to maintain value or increase it somewhat by buyback, burning some of the supply or changing their tokenization model. And at the same time, you have to trust the entity behind it that their business will be fine forever.