[hayesh]

Who do you guys think will be the next crypto bankruptcy. From what im reading I believe its going to be Gemini since they are now freezing withdrawals

[Hackers]

Even though MATIC pumped recently, we are building on the Polygon network and I can see it easily continuing to grow for years to come if devs keep making defi apps on it :)

[shreder]

Even though MATIC pumped recently, we are building on the Polygon network and I can see it easily continuing to grow for years to come if devs keep making defi apps on it :)

Polygon is building a true ETH L2.

Pretty good read.

https://thedefiant.io/polygon-true-layer2

[Omniscient]

When was Gemini withdrawals disrupted for more than an hour or two?

Their Earn program was something that was clearly defined as risk with the potential to lose the funds. I actually posted about that as used it as a reason to avoid it. I think it's fine for an exchange to use a 3rd party to manage the risk. With FTX, it appeared that funds were diverted without users even knowing. Gemini is also tightly regulated in NY. It's actually the very last exchange I would expect to shut down. It's owned by the Winklevoss Twins too.

But who is next? Probably Solana imho. Technically not an exchange but it could collapse a huge NFT market.

[shreder]

When was Gemini withdrawals disrupted for more than an hour or two?

Their Earn program was something that was clearly defined as risk with the potential to lose the funds.  I actually posted about that as used it as a reason to avoid it.  I think it's fine for an exchange to use a 3rd party to manage the risk.  With FTX, it appeared that funds were diverted without users even knowing.  Gemini is also tightly regulated in NY.  It's actually the very last exchange I would expect to shut down.  It's owned by the Winklevoss Twins too.

But who is next?  Probably Solana imho.  Technically not an exchange but it could collapse a huge NFT market.

Grayscale might be next actually

Grayscale next to fall? Withholding proof of reserves and trading almost at 50% discount compared to the bitcoin equivalent.

https://www.reddit.com/r/CryptoCurrency/..._proof_of/

[Hackers]

But who is next? Probably Solana imho. Technically not an exchange but it could collapse a huge NFT market.

Do you think some of the marketplaces are too heavily invested in Solana? In my opinion marketplaces should be trying their best to support as many chains as possible so that 1 crash can't destroy their business. However, I am looking and a lot of these marketplaces are limited in that area. Magic Eden for example only "recently" supported Ethereum after starting as only Solana.

[LeetSpeed]

Do you think some of the marketplaces are too heavily invested in Solana? In my opinion marketplaces should be trying their best to support as many chains as possible so that 1 crash can't destroy their business. However, I am looking and a lot of these marketplaces are limited in that area. Magic Eden for example only "recently" supported Ethereum after starting as only Solana.

Yes, This is exactly it. Too many vested into these projects that end up not being able to deliver and turn into vaporware. As for the next failure you just have to look at how exchanges are run.

[Omniscient]

Crypto.com is in a pretty shitty situation as well.

I disagree. Basically FTX was a Ponzi scheme. Crypto.com is not far as I can tell. There were people blowing the whistle on FTC and it was mainly ignored. I ain't read one legit person calling Crypto.com a scam.

So please explain how Crypto.com is in a "shitty situation".

[Hackers]

Yes, This is exactly it. Too many vested into these projects that end up not being able to deliver and turn into vaporware. As for the next failure you just have to look at how exchanges are run.

I mean, it makes sense once you realize that if it was so easy to offer high returns in crypto, the same could be true for USD or any other currency. In fact, with the way we print money like it's nothing, it'd be easier...

[Swip3r]

Genesis is rumored to be filing for bankruptcy any day now :L

Unfortunate turn of events in the market.

[Omniscient]

Oh fuck, just realized I think a family member has a bunch of ETH in Gemini Earn program. FUGG.....