### If (and it’s a big if) Binance pushes through with buying FTX.COM (UPDATE! Binance called it off), it will save a lot of FTX depositors from losing their money. However, Alameda Research still has huge problems with the FTT token value having crashed around 80% already. Contagion is looming on the horizon.

Updated November 10, 2022. 

With FTT going down, Alameda Research other SBF related entities and all their lenders will suffer huge drops in their assets. FTT was used in many transactions as collateral. So, a lot of lenders could be left unpaid and holding collateral with uncertain value. The worse news is that there is a contagion scenario in play. 

![chart](https://imagedelivery.net/HML6qmlXDXx6EPV6zNm9VA/6a3f9dc8-d548-4e1d-cd4f-f103ce38b100/public)

When lenders [Celsius](https://www.cnbc.com/2022/07/17/how-the-fall-of-celsius-dragged-down-crypto-investors.html) and [Voyager](https://fortune.com/2022/07/08/voyager-crypto-bankruptcy-protection-next-steps-life-savings/) went bankrupt, anybody that were owed money took a hit. The same thing will happen again if (or we should say when) the Alameda bankruptcy progresses to defaults. 

The bankruptcies’ damage rippled through the credit chain, and there were liquidity vacuum all over the place. Cash strapped entities were left stuck between a rock and a hard place. On the one hand, they could sell crypto (which would cause the prices to tank more) or they could hold but need to wait a long time for crypto to recover. To date, crypto has not recovered but has only moved sideways. 

A credit crunch or default contagion could push the prices lower and leave lingering downward pressure for many more months as cash strapped entities may sell every little rally that comes along. 

For us at cryptoflash.report, we try to look for opportunities. We believe that there is good reason to continue DCA (not financial advice) into crypto ecosystems that are not directly affected by the FTT issue, like bitcoin, ethereum, cardano, polygon, and even our favorite memes like dogecoin and shiba inu. Lower prices means our regular DCA will return us more tokens than before. 

Also, for those who haven’t started self-custody of crypto, it’s a good time to learn. There’s a saying going around in the cryptoverse that all in crypto should take to heart: “not your keys, not your cyprto”. Don’t keep your stash on exchanges! Find a self-custody solution that works for you. Need ideas for selfcustody, check out this article from [Time](https://time.com/nextadvisor/investing/cryptocurrency/best-crypto-wallets/). 

It may be hard to see, but as they say “this too shall pass.” …and when it does, you’ll be happy if you filled your bags for cheap.

If (and it’s a big if) Binance pushes through with buying FTX.COM (UPDATE: Binance called it off!), it will save a lot of FTX depositors from losing their money. However, Alameda Research still has huge problems with the FTT token value having crashed around 80% already. Contagion is looming on the horizon.

Wed Nov 09 2022

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Wed Nov 09 2022 Bigger Dumps are Possible. The Alameda Contagion is Still In Play

Generation Blockchain: Research Shows Gen Z’s Embrace Cryptocurrencies With Zeal

Bitcoin Sets A New Standard As It Overtakes Solana In The NFT Blockchain Ecosystem

On-Chain Milestone: 1 Million Bitcoin Wallets Achieve 1 BTC Or Higher

Stablecoins Vs CBDCs: Which Will Prevail In The Quest For Financial Innovation?

Is 2023 the Year for Accumulation?

Bitcoin Sets A New Standard As It Overtakes Solana In The NFT Blockchain Ecosystem

Wed Nov 09 2022

Bigger Dumps are Possible. The Alameda Contagion is Still In Play