Influencer gets thumbs up from Ripple CTO after predicting FTX crash, shares new forecast
Crypto Influencer Ben “Bitboy” Armstrong suggested Buying on the crypto market should be avoided until there is a better understanding of how much damage has been caused by the collapse of the major FTX exchange. Before the whole situation, the blogger had repeatedly spoken negatively about both the exchange and its chief Sam Bankman-Fried.
In particular, Armstrong claimed that Bankman-Fried is lobbying with the authorities for a law to strictly regulate the crypto sphere and also promised to expose many other bad deeds of SBF. Moreover, in late October, Bitboy claimed FTX was screwing its users after the exchange’s API was exploited.
The End in Sight for the “Invisible Hands” of the Crypto Market
The blogger’s insight into the crypto-entrepreneur’s tragic notoriety was also noted by Ripple CTO David Schwartz. Armstrong warned us of what a devil Bankman-Fried was long before these events, Schwartz says.
Apart from advising people to refrain from buying and wait while monitoring the situation, Armstrong also suggested that no more market makers would be able to have so much influence on the markets, being its “invisible hands.” With this thesis, the blogger once again poked fun at the head of FTX, which had a reputation for organizing pumps and dumps directly through his own exchange.
