Clear up fact in FTX

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Aug 6th, 2022
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How to clear up fact in FTX

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Fallout from the collapse of the cryptocurrency exchange FTX could impact crypto for years to come from mega mansions to a super well commercial exchange hacks and live tweets from the man sitting at the top of the pyramid a constant stream of Revelations brings confusion speculation and the potential for another bankruptcy with so much going on it can be hard to know where to start so hereamp;#39;s 20 key things about the fall of FTX so you can know exactly what happened number one the fraud FTX owes nine billion in liabilities which it cannot meet but where did the money go letamp;#39;s break it down 2.3 billion was given as a loan to paper bird Inc an entity majority owned by the CEO of FTX Sam backman free otherwise known as SBF a further 1 billion loan was also given to SPF thereamp;#39;s also a 300 million cash out from a recent FTX fundraising round and finally 121 million on Bahamas Real Estate this leaves 5.3 billion dollars unaccounted for number two the spend FTX spent hu

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Binance founder and CEO Changpeng Zhao (commonly known as CZ) was the crypto billionaire who lost the most money following the crypto crisis of 2022, with a net worth drop amounting to 82 billion U.S. dollars.
Star NFL quarterback Tom Brady, who received a multimillion-dollar deal to be the leading FTX brand ambassador, was estimated to lose $30 million in the aftermath of the collapse. Companies and venture capital firms also saw their money vanish.
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.
FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.
People who lost their money in FTX, once one of the biggest cryptocurrency exchanges in the world, are to be paid back, with interest. Billions were lost when the cryptocurrency exchange headed by convicted fraudster Sam Bankman Fried went bust in November 2022, with an estimated one million customers losing funds.
0:00 3:52 Thousand dollars 61 62 000 if you want to round up at home so all these things considered. TheresMoreThousand dollars 61 62 000 if you want to round up at home so all these things considered. Theres kind of a a hefty Delta.
FTX customers are set to recover all funds lost, plus interest. Bankruptcy lawyers say they have collected $14.5 billion to $16.3 billion and are ready to distribute it to defrauded customers. Sorry, a summary is not available for this article at this time. Please try again later.
FTX now says that 98% of its creditors, including individual investors who had US$50,000 or less with FTX, will receive the funds they lost. Payments will be made in cash within 60 days of a reorganisation plan going into effect. However, this plan still needs to be approved by a US bankruptcy court and by creditors.

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