Conceal feature in FTX

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Did people who invested in FTX lose their money?

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

What was the FTX coin called?

FTX currently offers XRP, BNB, TRX, BTC, ETH, EOS, USDT and LEO leveraged s. A year after its founding, FTX Exchange introduced the exchange called FTX or FTT. The FTT coin is an ERC-20 standard that is actively used by ecosystem participants.

What was FTX trying to do?

FTX supported trading for popular cryptocurrencies, non-fungible s (NFTs), and spot, derivatives, and leveraged markets. Although FTX stock was never available for public trading, the exchange did issue a (FTT) that traded on cryptocurrency markets.

What happens to my assets in FTX?

Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago. FTX, which filed for bankruptcy protection in November 2022, said in a court filing Tuesday that between $14.5 billion and $16.3 billion would be available for distribution.

What was FTX worth?

As of November 2022, FTX was the third-largest digital currency exchange boasting an active trading volume of USD 10 billion and a valuation of USD 32 billion.

Did normal people invest in FTX?

Many low-income people invested in the now-disgraced crypto exchange FTX. Thats because the exchange allegedly targeted poor and underbanked people and convinced them that FTX was just as safe as a regular bank.

Why did people invest in FTX?

What is FTX? FTX was one of the largest digital currency exchange platforms for buying and selling cryptocurrencies. As more people invested in cryptocurrencies, they turned to these platforms because they provided a digital wallet to store cryptocurrencies directly in a personal account.

What made FTX so popular?

SBF cofounded Alameda Research, a crypto hedge fund named after his hometown, in late 2017. SBF then created his own crypto exchange, FTX, in 2019 based on the success of Alameda. The exchange grew fast with high-profile acquisitions, a hefty marketing budget, and promises of high returns.

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