Conceal spot in FTX

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Aug 6th, 2022
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How to conceal spot in FTX

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for those that donamp;#39;t know Arthur Hayes was the founder of bitmax which at one point in time was one of the top exchanges in the world and they actually ran into some legal trouble uh because the way they were actually allowing U.S uh customers on board and I think Arthur Hayes was actually placed on house arrest for a period of time so you know he more than anyone knows what itamp;#39;s like uh to be in this position and working in this industry and you know from the early looks of it all signs you know point to the fact that FTX was probably advocating customer funds um and you know I think when we were like talking about this before the show

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ICYMI: FTX, the crypto exchange that has become a byword for fraud and a black eye on the face of the entire digital asset industry, said that virtually all of the people who had money frozen on the platform will get their money back, plus interest. That is an extraordinary outcome.
What about FTX 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.
In November 2022, crypto exchange FTX suffered a major liquidity crisis and filed for Chapter 11. FTX created a wave of bankruptcies throughout the industry. In 2023, BlockFi, Genesis, and 3AC (a hedge fund), all of whom had money in or loaned to FTX, failed.
Wanting to hold customers money. Bucknam believes it was a major red flag that FTX encouraged customers -- and even, reportedly, FTX employees -- to keep their money on the exchange.
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.
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.
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.
Bankrupt Crypto Firm FTX Is Going to Pay Customers Back in Full Plus Interest A majority of customers would get at least 118% of their money back under a proposed plan, as the company now has up to $16.3 billion in cash to use.

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