Correct circle in FTX smoothly

Aug 6th, 2022
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How to Correct circle in FTX

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thank you [Music] welcome to bitboy kryptos around the blockchain come to you Monday through Friday at 5 PM Eastern standard time today were talking usdc and apple teaming up that is right Apple pay is going to allow crypto this is huge news what does it mean for crypto and also just got voted down in the cosmos Community a huge upgrade why do they deny it and is this good for the ecosystem maybe a little q a uh maybe lets check out the markets today have been but first oh sorry were checking out the markets now we checking out the market sorry yes we will come back to you uh we do have Bitcoin up it looks like a nice little pump the Poland news there was a huge when I was a huge compared to recent events but there was a drop off after the Poland news and it seems like the markets have slightly recovered um you can see a little bit of a pull down I think it was about right there and then uh too hard to see but a nice little bounce back who do we have on today though were going to

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Collapsed cryptocurrency exchange FTX says that around $415m (338m) of crypto has been stolen by hackers. About $323m was from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTXs CEO says.
FTXs collapse wiped out $200 billion in the total value of the cryptocurrency market, and it hit retail investors in emerging economies the hardest.
FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. Then-CEO Sam Bankman-Fried admitted that the company didnt have sufficient assets in reserve to meet customer demand.
The crash exposed an $8 billion hole in FTXs accounts, leaving investors and customers scrambling to recoup their funds.
How did FTX fail? FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. Then-CEO Sam Bankman-Fried admitted that the company didnt have sufficient assets in reserve to meet customer demand.
What happened to FTX? FTX and FTX.US crashed due to a lack of liquidity and mismanagement of funds, followed by a large volume of withdrawals from rattled investors. The value of FTT plummeted, taking other coins down with it including Ethereum and Bitcoin, which docHubed a two-year low as of Nov. 9.
The liquidity crunch had customers demanding withdrawals, and Binance abandoned the non-binding acquisition agreement they had with FTX. The FTX exchange had no choice but to file for bankruptcy on November 11, 2022. There are many stories and even more questions coming out of this collapse.
CharacteristicNet worth loss in billion U.S. dollarsSam Bankman-Fried (FTX)23Brian Armstrong (Coinbase)4.7Gary Wang (FTX)1.7Chris Larsen (Ripple)1.31 more row Jan 12, 2023

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