Clear up pattern in FTX

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

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The Saga with FTX really goes deep Iamp;#39;m going to bring you everything you need to know today the first thing is that there have been major developments that I need to bring to you previous to this video I covered everything that happened that video had received at least at the time of this recording well over a hundred thousand views and I showed you so many different things that has happened but now I need to bring you what has happened since then the second thing is the politics the donations so many people have been asking me to cover that aspect I found out some information that I wanted to make sure I shared even though I shared some in the previous and the third we go down the rabbit hole so if you stick with me through this video Iamp;#39;m going to bring you everything letamp;#39;s begin so Iamp;#39;ll take you through the whole timeline right here and I want to make it quick because a lot of people are already aware of what happened especially the stuff over the past

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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.
ing to the prosecution, Bankman-Fried stole billions of dollars from the crypto exchanges customers out of sheer greed. One key issue was how much money FTXs customers lost. During the trial, the prosecution and its witnesses repeatedly in fact, 97 times put that number at $US8 billion ($12 billion).
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.
FTX investors filed a class action lawsuit against FTX and its celebrity endorsers on Nov. 15, 2022. The civil suit claimed FTX used false representation and deceptive conduct. The lawsuit also accused FTX of using a Ponzi scheme to misuse funds and move customer money between entities.
At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTXs hedge fund arm. But only $2.3bn could be located. The rest had gone toward investments, political contributions, charity foundations and real estate purchases.
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.
ing to the agencies, Bankman-Fried and top executives lied about FTXs financial health to investors, customers, and lenders and hid a billion-dollar hole in its balance sheet with financial statements, inflated valuations of speculative s like FTXs FTT exchange coin, and cryptocurrencies borrowed from
FTX crashed due to mismanagement of funds, lack of liquidity and the large volume of withdrawals. Binance announced it would buy FTX to prevent a larger market crash, but quickly bailed out of the deal as more news reports of mishandled customer funds surfaced.

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