Bold expense in FTX

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Aug 6th, 2022
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How to bold expense in FTX

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hello and welcome to our Channel today weamp;#39;re bringing you an update on the ongoing story of Sam bankman freed also known as SBF the disgraced former crypto billionaire as you may recall SBF was charged with multiple crimes including conspiracy to commit wire fraud and money laundering in the collapse of his exchange FTX while FTX customers only face the possibility of economic loss due to the collapse of the exchange SPF is facing serious criminal charges yet he has caused outrage by attempting to regain control of his Robin Hood shares which are worth over 460 million dollars and claiming that he needs the shares to pay for his criminal defense implying that he needs the money more than FTX customers do this lack of empathy has many people wondering who are SBS backers and how are they supporting him despite the charges against him and his unempathetic actions letamp;#39;s find out in this video as we go on also remember to like this video subscribe and drop any questions or

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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.
FTX supported trading for popular cryptocurrencies, non-fungible s (NFTs), and spot, derivatives, and leveraged markets. Although FTX stock was never available for public trading, the exchange did issue a (FTT) that traded on cryptocurrency markets.
Prosecutors say Bankman-Fried looted billions of dollars in customer funds to prop up Alameda, buy real estate and donate more than $100 million to U.S. political campaigns to burnish his influence. He has pleaded not guilty, and argues that while he made mistakes running FTX, he did not steal funds.
The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTXs accounts, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users.
All told, FTXs endorsement spending, directed by Bankman-Fried including renaming the Miami Heat basketball arena, a Superbowl ad starring Seinfeld creator Larry David, and deals with Tom Brady and Gisele Bndchen totaled $1.13 billion, Singh testified.
FTX founder Sam Bankman-Fried and senior staff spent customer funds on technology investments, luxury real estate and political contributions, among other things. The missing funds are at the heart of Bankman-Frieds criminal trial, which kicked off in Manhattan federal court this week.
At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTXs hedge fund arm. But only $2.3bn could be located. The rest had gone toward investments, political contributions, charity foundations and real estate purchases.

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