Cancel banner in FTX smoothly

Aug 6th, 2022
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How to Cancel banner in FTX

4.8 out of 5
58 votes

yeah absolutely could pull it off without my math degree I use very little math um use a lot of like Elementary School math being comfortable with risk is very important we tend not to have things like stop losses I think those arent necessarily great risk management tool trying to think of a good example of a trade where Ive lost a ton of money um well I dont know I probably dont want to go into specifics too much with that [Music]

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From Tom Brady to Kevin OLeary See Who Lost Big in the Wake of the FTX Crypto Collapse. The crash exposed an $8 billion hole in FTXs accounts, leaving investors and customers scrambling to recoup their funds.
FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. Then-CEO Sam Bankman-Fried admitted that the company didnt have sufficient assets in reserve to meet customer demand.
Collapsed cryptocurrency exchange FTX says that around $415m (338m) of crypto has been stolen by hackers. About $323m was from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTXs CEO says.
FTX collapsed in early November 2022 following a report by CoinDesk highlighting potential leverage and solvency concerns involving FTX-affiliated trading firm Alameda Research. FTXs collapse shook the volatile crypto market, which lost billions at the time, falling below a $1 trillion valuation.
FTX is a now-defunct cryptocurrency exchange founded by Sam Bankman-Fried in 2019, who served as CEO until Nov. 11. The exchange issued its own , FTT, and was the fourth-largest crypto exchange by volume as of Nov. 9.
The collapse of the crypto exchange FTX seemed to materialize out of nowhere: Within one week in November, FTX transformed from one of the most respected and trusted parts of the crypto industry to a bankrupt disgrace that lost more than $8 billion of its customers money, ing to authorities.
Zhao said he would sell his $580 million worth of FTT s. This caused the price of FTT to fall by over 80% and within a few days, worried investors withdrew $5 billion of their funds from the platform. This led to a classic bank run, leaving FTX with an $8 billion liquidity shortfall.
CharacteristicNet worth loss in billion U.S. dollarsSam Bankman-Fried (FTX)23Brian Armstrong (Coinbase)4.7Gary Wang (FTX)1.7Chris Larsen (Ripple)1.31 more row Jan 12, 2023

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