SPONSORED POST*
The FTX scandal has made global headlines, being the biggest crypto crash to date. Alongside losing billions of investors’ money through risky investments, the scandal has caused further decline throughout the crypto market, with currencies such as ETH and BTC hitting new annual lows. While the general market remains in decline, Orbeon Protocol (ORBN) continues to rise in value, logging a 655% price increase over recent weeks.
Summary
What is The FTX Scandal?
FTX was one of the world’s largest cryptocurrency exchanges, where investors would buy and hold cryptocurrency. Once regarded as a ‘safe’ place to invest, the cryptocurrency exchange has since filed for Chapter 11 bankruptcy.
On the same day it filed for bankruptcy, the founders claimed the platform was hacked, with hackers stealing over $600 million from user wallets. The company’s balance sheet has since been published by the Financial Times and shows a ratio of 10:1 of liabilities to assets. With so many liabilities, it’s possible that investors holding funds on the platform may lose everything.
The company’s founder, Sam Bankman-Fried has since resigned and has been replaced by John J. Ray III. John is known for his work with Enron, who he helped through the bankruptcy and liquidation process 20 years prior.
The value of FTX’s native token FTT has since crashed in price, going from $21.41 to $1.44 in just 10 days. This has had a market wide impact, with Bitcoin reaching a two-year low. However, despite this news, the Orbeon Protocol continues to thrive.
Orbeon Protocol Remains Strong Despite FTX Scandal
Orbeon Protocol (ORBN) offers the most utility out of the projects released this year. Designed to disrupt the venture capital market, it provides investors with an entire ecosystem, including a dedicated wallet, Exchange, Launchpad, NFTs, and even a Metaverse.
Orbeon Protocol revolutionizes the fundraising market by allowing retail investors to buy equity in real-world startups with fractionalized NFTs.
Startups can use Orbeon Protocol to mint NFTs that represent equity in their company. These can be purchased as fractionalized NFTs, allowing everyday investors to support early stage ventures. This removes traditional barriers to entry and opens new funding opportunities for businesses.
One unique advantage of Orbeon Protocol is that it protects investors from bad investments. All NFTs have a “Fill or Kill” functionality that refunds investors if a startup misses its financial targets within a set period of time.
All ORBN holders are rewarded with lower trading fees, early access to funding rounds, access to exclusive member groups, voting rights, and cashback. With so many benefits, and a thriving ecosystem, it’s predicted that ORBN will continue to surge in price, selling out in weeks during its second presale phase. It’s currently ongoing third phase has seen ORBN rise to $0.030 – a 655% increase since the start of presale. This makes it a great investment to make while the general market remains in decline.
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Telegram: https://t.me/OrbeonProtocol
*This article has been paid. The Cryptonomist didn’t write the article nor has tested the platform.
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