Blot fact in FTX in a few clicks

Aug 6th, 2022
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Your easy way to blot fact in FTX

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How to blot fact in FTX

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well once the largest cryptocurrency Exchange in the world where 32 billion dollars at its peak is bankrupt tonight and the crashing and burning of FTX is burning a slew of a-listers and Superstar athletes as well Tom Brady and Gisele were reportedly two of the biggest FTX investors and stand to lose 70 million dollars between them FTX promoters include Shaquille Oamp;#39;Neal Steph Curry shark Tankamp;#39;s Kevin Oamp;#39;Leary and others and who can forget Larry Davidamp;#39;s FTX Super Bowl commercial no one is confirming those celebrities invested in FTX and some of their reps say they only receive portions of the company as compensation an industry expert says they likely all invested but are too embarrassed to admit it so Pete you saw the celebrities and others jump on the bandwagon uh what do you believe is the lesson here I will agreed is grotesque itamp;#39;s absolutely grotesque I mean Tom Brady sells these uh supplements that he says provide immunity they donamp;#39;t

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FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors.
ing to the agencies, Bankman-Fried and top executives lied about FTXs financial health to investors, customers, and lenders and hid a billion-dollar hole in its balance sheet with financial statements, inflated valuations of speculative s like FTXs FTT exchange coin, and cryptocurrencies borrowed from
What Happened to FTX? FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion.
Former cryptocurrency mogul Sam Bankman-Fried was sentenced to 25 years in prison for what prosecutors said was one of the biggest financial crimes in U.S. history. Bankman-Fried was found to have stolen at least $8 billion from FTX customers.
The FTX scandal was allowed to happen because its young and charismatic founder exploited the flashy new cryptocurrency industry to mask what was essentially old-fashioned embezzlement, in which he stole billions of dollars from investors.
Customers and creditors that claim $50,000 or less will get about 118% of their claim, ing to the plan, which was filed with the U.S. Bankruptcy Court for the District of Delaware. This covers about 98% of FTX customers.
Some of the failures at FTX include unreliable financial statements, mishandling of confidential data, diversion of corporate funds to purchase homes for employees, poor recordkeeping, and a lack of centralized control of company cash.
FTX founder Sam Bankman-Fried testified Friday that his largest mistake was not having a dedicated risk management team and a chief risk manager at FTX. The result was no oversight for the bankrupt crypto exchange.

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