️ The Black Swan Event: FTX's Fourth Anniversary Bankruptcy: November 11, 2022 – November 11, 2026 Seeing this chart again brings back many memories. Those who experienced the 2022 bear market will likely find it hard to forget what happened in those days. November 2nd: Alameda's balance sheet was exposed; November 6th: CZ announced the liquidation of his FTT holdings, and Alameda's CEO publicly stated his willingness to buy all of it at $22; November 7th: SBF confidently assured on Twitter that FTX was operating normally and user assets were safe; November 8th: Binance announced it was considering acquiring FTX, and the market briefly thought there was still hope; November 9th: Binance abandoned the acquisition; November 11th: FTX officially filed for bankruptcy protection. Four years later, while FTX creditors have begun receiving compensation, it's primarily calculated based on the dollar value at the time of the bankruptcy in November 2022. For example, if you had 1 BTC held in FTX back then, your claim at the time of bankruptcy would have been valued at only about $16,900, and obtaining 100% repayment would have been extremely difficult. Many people understand wealth growth as constantly seizing opportunities, but those who have experienced the entire cycle should understand that the ability to hold onto earned money long-term is itself a severely underestimated skill. Hopefully, everyone has recovered, and hopefully, we'll have fewer such costs in the future!