Clear up note in FTX

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

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Iamp;#39;m very excited to introduce you to Sam bankman freed everybody likes a story about an underdog heamp;#39;s the CEO of the cryptocurrency exchange FDX the wealthiest person under 30 in the world someone out of the ordinary what makes him so different and so rich he said you always wanted to get rich but not for the reasons you might expect an unlikely genius who comes once in a lifetime living with roommates sleeping on a bean bag in his office yeah the guyamp;#39;s a nut he doesnamp;#39;t sleep Sam is a genius and Michael Jordan of crypto if you will somebody who wants to change the world for good he decided that he wanted to dedicate his life to doing good for the world this is not one of those stories in the span of about one week sand bank and freed went from a crypto billionaire to bankruptcy the southern district of New York has confirmed the arrest of FTX founder Sam bankman freed the once crowned king of crypto now adorned in handcuffs in the month of November 2022

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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.
Most FTX customers to get all their money back less than 2 years after collapse : r/news.
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.
John J. Ray III, Chief Executive Officer and Chief Restructuring Officer of FTX, said: We are pleased to be in a position to propose a chapter 11 plan that contemplates the return of 100% of bankruptcy claim amounts plus interest for non-governmental creditors.
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.
Whats in FTXs New Plan? The new plan provides for 98% of all customers, including those holding claims of $50,000 or less, to receive up to 118% of their allowed claims within 60 days.
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.

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