Correct effect in FTX smoothly

Aug 6th, 2022
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How to Correct effect in FTX

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. GEOFF: 2022 HAS BEEN A BRUTAL YEAR FOR CRYPTOCURRENCY AFTER docHubING A PEAK OF $3 TRILLION IN VALUE IN 2021, CRYPTOCURRENCIES HAVE SPENT THE BETTER PART OF THIS YEAR IN A TAILSPIN FIELD BY FINANCIAL LOSSES, A PUBLIC PERCEPTION CRISIS AND A FRAUD SCANDAL. THE FOUNDER OF THE CRYPTO FIRM FTX SAM BANKMAN-FRIED WAS CITED ON A BATTERY OF FRAUD CHARGES. HE HAS DENIED KNOWINGLY DEFRAUDING INVESTORS. LOOK, I SCREWED UP. I WAS CEO. I WAS THE CEO OF FTX. THAT MEANS I HAD A RESPONSIBILITY. WE DIDNT. WE MESSED UP BIG. GEOFF: MATTHEW HOMER JOINS US NOW. HES A FORMER CRYPTO REGULATOR AND NOW ACTIVE INVESTOR AND ADVISOR IN THE CRYPTO INDUSTRY. HE HAS NO DIRECT RELATIONSHIP WITH ANY OF THE COMPANIES WE ARE DISCUSSING TODAY. ASK FOR BEING WITH US. PLEASURE TO BE HERE. GEOFF: YOU COULD ARGUE THAT THE FALL OF FTX HAS MORE TO DO WITH GREED AND FRAUD THAN IT HAS TO DO WITH CRYPTO. FROM WHERE YOU SIT, WHAT DO YOU SEE AS THE TAKEAWAYS? THREE BIG TAKEAWAYS. THE FIRST IS THIS IS FRAUD. THE RISKS A

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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
The collapse of the crypto exchange FTX seemed to materialize out of nowhere: Within one week in November, FTX transformed from one of the most respected and trusted parts of the crypto industry to a bankrupt disgrace that lost more than $8 billion of its customers money, ing to authorities.
FTX founder Sam Bankman-Fried on Thursday said the millions of customers who lost money from the collapse of his cryptocurrency exchange could get their money back.
Is FTX Exchange Legit? Since 2019, FTX has been a legit crypto exchange platform. It is used by millions of users around the world.
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
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 collapse of the crypto exchange FTX seemed to materialize out of nowhere: Within one week in November, FTX transformed from one of the most respected and trusted parts of the crypto industry to a bankrupt disgrace that lost more than $8 billion of its customers money, ing to authorities.
In addition to any lasting reputational damage, Brady and his supermodel ex-wife, Gisele Bndchen, have likely lost most or all of the sizable financial stake they had in FTX.

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