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How to bind question in FTX

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lawmakers on Capitol Hill trying to get answers from Regulators in the aftermath of the crypto chaos Jennifer schomberger is tracking that for us hey Jen good afternoon in a colorful display Tuesday we heard from a lawmakers before the Senate Banking Committee and their opinions on ftxamp;#39;s bankruptcy they pointed fingers at top banking Regulators while also asking them what could be done to prevent an FTX situation can you tell me who in our federal financial services regulatory administrative state was watching FTX to make sure that no one there stole peopleamp;#39;s money was anyone watching them FTX lent out customer assets for proprietary trading with its affiliate Alameda research misusing its custody assets which it did not own and breaking its promises to its customers so like Senator Toomey I agree this is a lot like MF Global in 2011. but I think some of this obligation is on you to provide some clarity about how that could work uh and and and as I say I what Iamp;#39;

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What was Sam Bank Friedmans sentence?

Samuel Bankman-Fried, also known as SBF, 32, of Stanford, California, was sentenced today to 25 years in prison, three years of supervised release, and ordered to pay $11 billion in forfeiture for his orchestration of multiple fraudulent schemes.

What went wrong with FTX?

FTX crashed due to mismanagement of funds, lack of liquidity and the large volume of withdrawals. Binance announced it would buy FTX to prevent a larger market crash, but quickly bailed out of the deal as more news reports of mishandled customer funds surfaced.

How to claim funds from FTX?

Using the Customer Claims Portal Step 1: Login. Step 2: Email Verification. Step 3: Providing Know Your Customer Information. Step 4: Review Account Balances. Step 5: View Your Proof of Claim Status. Step 6: Voting. Step 7: Distributions - Tax Requirements. Step 8: Distributions - Payout Options.

Can people get their money out of FTX?

While some could recover as much as 142% of what they held, the vast majority are likely to receive 118%. The specific pay day is estimated to be months away. While the gains are unusual and impressive, the biggest winners in the FTX affair are those who trade bankruptcy claims.

Can I still claim from FTX?

The deadline for filing a proof of claim on account of your customer claim was on September 29, 2023 at 4pm ET. The Kroll Portal will remain accessible after the Bar Date to amend or file a claim.

Can I get back my FTX money?

Under FTXs re-organisation plan, customers whose claims amount to US$50,000 or less will receive roughly 118 per cent of the amount of their allowed claim. About 98 per cent of creditors will receive this compensation.

How much money did FTX steal?

NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkinds dramatic downfall.

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