Change issue in FTX smoothly

Aug 6th, 2022
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How to Change issue in FTX

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ladies and gents we need to have a real talk we gotta have a serious conversation it has been less than 48 hours since I came back from my five-week trip in Korea and it seems like within this short time span the most amount of activity happening within the crypto space the craziest things unfolded right in this time I just needed to have a conversation with you guys regarding FTX because they are a platform that we worked with not only that I had a lot of my funds with FTX I actually had half a million dollars within that exchange and uh yeah this has probably been the most stressful time for me in this last week all right so since Ive returned back from my trip in Korea which by the way was my first ever trip that Ive taken uh the last time I was in Korea I was only just three years old anyways I returned back for my trip in Korea and all of this has been unfolding and to my knowledge the most recent update regarding the FTX situation is just the fact that they have now filed for

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Bankman-Fried siphoned billions of dollars in customer deposits from FTX and used the funds to purchase luxury real estate, invest in other companies, make political contributions and fund cryptocurrency trading at Alameda Research, the hedge fund he also owned.
Tom Brady is the most famous face to promote and invest in FTX and he also may have suffered the greatest individual loss. The Tampa Bay Buccaneers quarterback owned over 1.1 million common shares of FTX Trading, which equaled about $45 million before the company went bankrupt, ing to Bloomberg.
Quarterback Tom Brady, his former wife Giselle Bndchen and his former boss, New England Patriots owner Robert Kraft, are listed among the losers in the FTX Groups bankruptcy court papers.
The man with the most to lose is Changpeng Zhao, CEO of Binance, cryptos largest exchange, a sprawling global network of murky subsidiaries.
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
In addition to any lasting reputational damage, Brady and his supermodel ex-wife, Gisele Bndchen, have likely lost most or all of the sizable financial stake they had in FTX.
FTX has recovered at least $5 billion of liquid assets, including cash, crypto and securities, attorneys told a Delaware bankruptcy judge.
What happened to FTX? FTX and FTX.US crashed due to a lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from rattled investors. The value of FTT plummeted, taking other coins down with it including Ethereum and Bitcoin, which docHubed a two-year low as of Nov. 9.
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.
Since 2019, FTX has been a legit crypto exchange platform. It is used by millions of users around the world. It is regulated by the Hong Kong financial authority.

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