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by firekvz 1312 days ago
You are right, but we are talking about binance shorting big amounts of tokens, not you shorting some amount in their own game

Tell me who at the same level of insider info, gonna OTC borrow you millions of FTT for you to short, when most likely that person/entity owning millions of FTT is already trying to protect their value?

You have to remember that when you short and you bet for price going down, the other side is betting for price going up or at least for the price to stay at the same levels, the person borrowing you has to be constantly doing DD to be sure that its the right moment to borrow the asset, and its pretty obvious that someone holding big amounts of FTT was/is very aware of whats comming

if I was an OTC shorter and had millions of FTT and you see Binance CEO comming to you to short, I inmediatly said no and cashed out those FTT instead of shorting, cause clearly at those levels there is certainty of what they are doing.

2 comments

I only shorted FTT at first. Then I shorted BTC and BNB instead when I realized this was going to crash the market. For some reason BNB was massively overbought yesterday. Binance hype or something. Almost reached 400 USD. I shorted it at the top and watched it melt down to < 300 USD.

God I wish I could be this lucky every single time.

They don't need to short FTT. They can short BTC. This is having a big impact on the whole market, and is going to continue to.