“I’m Giving You a Warning” – YouTube Streamer Ludwig Gives a Stone-Cold Warning to Cryptocurrency Users While Drawing Instances of Former FTX CEO Sam Bankman-Fried – EssentiallySports

Lately, the community has been becoming a victim of consequential losses after the downfall of cryptocurrency. Moreover, the entities closely related to it have been succumbing to significant losses. Unfortunately, the cryptocurrency exchange FTX was also affected by it. And YouTube streamer Ludwig stated his views regarding the uproaring situation in the community.

Ludwig Anders Ahgren is better known as Ludwig to the worldwide community. The personality has been known to be a popular and joyful streamer. Moreover, he is also known to be an eSports commentator and podcaster. “The Yard” is a podcast hosted by him. Recently, he put forward his views on the situation surrounding Sam Bankman-Fried and FTX.

Ludwig gives a warning and voiced his views about the situation surrounding the ex-CEO of FTX and the cryptocurrency

Surprisingly, Ludwig started his recently posted video by saying that he wouldn’t commence with any humor related-anecdotes in this one. Moreover, he warned his viewers by saying, “Today I’m giving you a warning and I hope you heat it very carefully. If you have crypto, do one of two things; if it’s on some site like Coinbase or in FTX, which we’re going to talk about today, throw that on a cold wallet immediately. A wallet that you have to remember 30 words for it to log into, it’s much safer and nobody can f*** with your money, or just sell it all.”

Moving forward, Ludwig drew instances and tweets published by the respective companies. Chiefly, Ludwig described the proceedings that went on before FTX filed for bankruptcy. Moreover, he did try to sum up the happenings by drawing a simple chronology.

Ludwig said, “Now the way this worked in the actual world is that allegedly FTX and specifically Sam transferred funds from FTX. From users who are investing into crypto to Alameda research, and then Alameda research would go right back and invest that money into FTT token. So, basically taking money from investors into different coins putting it into an investment group that would then put the money back into the coin, and then there that with a coin would go up and the people were like damn I cannot f******* miss.” 

Read More: $15.6 Billion Man and FTX CEO Lands in Troubled Waters Over Massive League of Legends Controversy

Thus with that, Ludwig explained his views of how Sam Bankman-Fried and FTX found themselves in such a situation. As reported by Coindesk, Bankman-Fried lost an estimated $14.6 billion dollars. Thus, only time shall unveil the future that lies ahead.

What partnerships did the cryptocurrency exchange have with the eSports community?

TSM has been a popular eSports organization that frequently participates in events regarding Valorant, League of Legends, and Apex Legends. As reported by The New York Times, TSM had agreed with FTX on a $210 million deal to change their name to TSM FTX.

Moreover, as per the deal, the company had to pay the money to the eSports organization over a span of 10 years. Following FTX’s bankruptcy situation, TSM released a statement stating their present and future with the company.

FTX has also been an avid contributor to eSports events. The cryptocurrency exchange had partnered with the eSports gaming platform providers Nerd Street Gamers. Moreover, Business Insider reported that they also invested in Riot Games’ North American League of Legends Championship Series.

What do you think lies ahead of FTX and its eSports partnerships? Feel free to drop your thoughts in the comments below.

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