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How to clear up epitaph in FTX

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lot of you wanted a breakdown of the FTX drama and Iamp;#39;m Vivian your Rich BFF and your favorite Wall Street girly and Iamp;#39;m gonna deliver tldr crypto CEO Sam bangman Freedamp;#39;s company FTX imploded hereamp;#39;s why the bad news started when coindesk released a report that basically was like uh spfamp;#39;s crypto trading firm Alameda research and his trading platform FTX may be more intermingled than they should be sus a few days later the CEO of binance FTX number one competitor decides to sell 530 million dollars worth of ftt a coin FTX invented and when users saw this they panicked and also sold about 6 billion in withdrawals happened over 72 hours which FTX couldnamp;#39;t fulfill but all seemed okay when FTX announced that binance was going to buy them effectively bailing them out but after a little research binance said FTX is a lemon and for that reason weamp;#39;re out no bailout meant FTX had to file for bankruptcy and SPF resigned as CEO and lost 94 of h

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How much money was stolen from FTX?

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.

What happened to the FTX collapse?

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.

What happened to people who had money in FTX?

On Jan. 31, 2024, FTX announced it would not restart its cryptocurrency exchange. Instead, it will liquidate all assets and return the money to customers. The exchange was in negotiations for months with investors and bidders but could not get enough money to rebuild.

How much money did FTX lose?

At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.

What happened to people with money in FTX?

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.

What happens to my crypto in FTX?

Almost all customers of collapsed cryptocurrency exchange FTX will get their money back and more, ing to a court filing. FTX estimates that it owes creditors around $11.2 billion. FTX said that it has between $14.5 billion and $16.3 billion to distribute to creditors.

Are FTX customers getting money back on Reddit?

Most FTX customers to get all their money back less than 2 years after collapse : r/news.

Will FTX users get their money back?

Almost all customers of collapsed cryptocurrency exchange FTX will get their money back and more, ing to a court filing. FTX estimates that it owes creditors around $11.2 billion.

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