Blot out formula in FTX

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Aug 6th, 2022
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How to blot out formula in FTX

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Instagram this video is brought to you by skillshare stick around to hear more about the special offer they are providing to the entire upper echelon community how do I even begin here to be honest there are a lot of different angles and separate ways to cover the story I could for example go down the road of technical analysis the economics of downfall whereas the money why it all happened Etc and that would probably be the most logical approach given the circumstances alternatively I could go down the road of emotional appeal inflammatory rhetoric Sensational language and try tapping into a sense of betrayal in the crypto industry for maximum viewership even more abstract I could approach the topic as a futurist where does it go next contagion Fallout Etc or lastly I could tackle the subject as a pseudo-intellectual thought leader this is how it is this is what you should think about it and here is why those conclusions are obviously correct all of these supremely different angles ar

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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.
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.
Under the proposed plan, almost all creditors are expected to receive over 100% of their claims, with those claiming $50,000 or less receiving about 118%.
All of FTXs creditors, except the government, will get 100% of their money back in cash plus interest, the bankrupt cryptocurrency exchanges estate said late Tuesday.
FTX has said its reorganization plan would give 98% of creditors 118% of their claims in cash within 60 days of court approval.
Whats in FTXs New Plan? The new plan provides for 98% of all customers, including those holding claims of $50,000 or less, to receive up to 118% of their allowed claims within 60 days.
While FTX said it expects to collect enough cash to pay them 100% of what theyre owed, plus interest, theres a catch. Theyre not getting their crypto back. Instead, theyre getting US dollars based on what the accounts were worth when FTX went bust in November 2022.
FTX Exchange was a leading centralized cryptocurrency exchange specializing in spot markets, derivatives, options, volatility, and leveraged products.

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