Clear up highlight in FTX

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Aug 6th, 2022

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How to clear up highlight in FTX

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foreign whatamp;#39;s up everyone welcome to another live stream sorry we missed you guys uh last week we were in uh Dubai but my name is Toby Iamp;#39;m Heidi and Iamp;#39;m gonna get right into a couple news things before we get into the main stuff okay so youamp;#39;ve seen whatamp;#39;s happened in the last couple weeks um now we have the bank of England Deputy Governor saying that the UK might need to uh a digital pound following the FTX collapse yes weamp;#39;ve been saying this for a very long time that this is whatamp;#39;s going to be used uh as you know you have the scapegoat here which is FTX you know that played a big role in the economy of the UK so that definitely makes sense yeah on a on a brighter note thatamp;#39;s ridiculous man yeah these these guys really want their cbdcamp;#39;s Central Bank digital currencies if you donamp;#39;t know what that is you can check out some prior videos what weamp;#39;ve done on cbdcamp;#39;s itamp;#39;s very important it

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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?

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.

How much money will be recovered from FTX?

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.

What are the ethical dilemmas of FTX?

Some of the failures at FTX include unreliable financial statements, mishandling of confidential data, diversion of corporate funds to purchase homes for employees, poor recordkeeping, and a lack of centralized control of company cash.

How will FTX repay customers?

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.

Have FTX customers been repaid?

FTX said in recent court filings that 98% of its customers will be able to receive full repayment within 60 days of a bankruptcy court approval of its wind-down plan. The faster payment option will cover all customers who are owed up to $50,000.

Have FTX customers lost money?

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

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