Black out look in FTX

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Aug 6th, 2022
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How to black out look in FTX

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so the story behind FTX is one of the craziest involved hereamp;#39;s what you need to know this all starts back with Alameda research who is also partly owned by Sam bankman freed ing to a source for the Wall Street Journal Alameda needed Capital earlier this year so FTX lent out a large sum of customer funds to them now the problem is that ftxamp;#39;s term of service stated they would never do anything like this and to add to that Alameda held a large amount of ftt which is a native of FTX and made the two firms way too interconnected so all of this began when ftxamp;#39;s balance sheet was published in a coindesk article and CZ of binance decided to sell a large amount of the ftt s after offering them a deal CZ and binance realized just how bad their finances really were so they backed out of their deal this left scam bankrupt fraud with no other choice but to file for bankruptcy

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The collapse of FTX It began with the CoinDesk article and the leaked balance sheet. Binance initially announced it would sell all its FTT s because of the mishandled and blurred funds. The value of FTT dropped docHubly, prompting FTX customers to withdraw money from their accounts. FTX scam explained: Everything you need to know - TechTarget techtarget.com whatis feature FTX-sca techtarget.com whatis feature FTX-sca
Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion. Scores of investors and customers pulled their funds out of FTX, forcing the exchange to become insolvent and declare bankruptcy. The Collapse of FTX: What Went Wrong With the Crypto Exchange? investopedia.com what-went-wrong-with-f investopedia.com what-went-wrong-with-f
They tapped a wide range of sources, including digital currencies that FTX still owned when it filed for bankruptcy and company assets like shares in start-ups, which could be sold to bidders. The amount that FTX recovered is in general pretty unheard of, said Yesha Yadav, a law professor at Vanderbilt University.
FTX collapsed over 10 days in November 2022 and soon after filed for Chapter 11 bankruptcy a statute used to reorganize a failing company in the public interest. FTXs exchange, its main product, was not so much reorganized as shut down. Old-fashioned embezzlement: where did all of FTXs money go? | FTX theguardian.com business mar where-d theguardian.com business mar where-d
Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago. FTX, which filed for bankruptcy protection in November 2022, said in a court filing Tuesday that between $14.5 billion and $16.3 billion would be available for distribution. Nearly all FTX customers are getting their money back: What to know latimes.com business story ftx-crypto- latimes.com business story ftx-crypto-
Most FTX customers to get all their money back less than 2 years after collapse : r/news.
FTX said Tuesday it had recovered assets with an estimated value of between $14.5B and $16.3B. FTX has recovered enough assets to pay most of its creditors back in full, the failed crypto exchange said late Tuesday.

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