Cut issue in FTX

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Aug 6th, 2022
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How to cut issue in FTX

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even though you were able to get money off the exchange you still had tens of Millions on the exchange when it comes to FTX trapped there Sam bankman freed has been pretty vocal in the media the last couple of days let alone since the crash had really started to happen the question I have for you is what do you still need to know what hasnamp;#39;t been said that needs to be made clear yeah you know itamp;#39;s kind of surprising that his lawyers are letting him speak uh having watched his two interviews the word delusional kept coming into mind right that heamp;#39;s in a reality thatamp;#39;s not real um a lot of narcissism a lot of grandiosity that but the reality is like Sam and his cohorts perpetuated a fraud they used customer money to make bets that he poorly risk managed after he made them uh like letamp;#39;s forget about the risk management the problem was he took our money and so he needs to get prosecuted the authorities need to dig in and figure out exactly what happe

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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 on Nov. 9, 2022. FTX Crash: Timeline, Fallout and What Investors Should Know - NerdWallet nerdwallet.com article investing ftx-cra nerdwallet.com article investing ftx-cra
CEO and founder Sam Bankman-Fried resigned when the exchange collapsed. In March he was sentenced to 25 years in prison for the massive fraud that occurred at FTX. FTX files plan to fully reimburse customers defrauded of billions by cbsnews.com news ftx-chapter-11-remiss cbsnews.com news ftx-chapter-11-remiss
It isnt going to be an immediate payout. The bankruptcy judge has to approve the plan and that could take months, and then once the plan is approved, the funds will be paid within 60 days after it goes into effect.
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. FTX said that it has between $14.5 billion and $16.3 billion to distribute to creditors.
FTX said in recent court filings that 98% of its customers will be able to receive full repayment within 60 days of a bankruptcy court approval of its wind-down plan. The faster payment option will cover all customers who are owed up to $50,000.
FTX collapsed in early November 2022 after journalists reported an affiliated trading firm, Alameda Research, derived most of its value from speculative cryptocurrency s. The Collapse of FTX: What Went Wrong With the Crypto Exchange? investopedia.com what-went-wrong-with-f investopedia.com what-went-wrong-with-f
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 scam explained: Everything you need to know - TechTarget techtarget.com whatis feature FTX-sca techtarget.com whatis feature FTX-sca
FTX customers will get their money back and morebut the biggest winners are bankruptcy traders. Sam Bankman-Fried, the former CEO of FTX, is serving a 25-year sentence. In a rare outcome for bankruptcy, customers of the failed cryptocurrency exchange FTX will recover all of their moneyand then some.

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