Cut off space in FTX

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How to cut off space in FTX

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hey guys itamp;#39;s Richard youamp;#39;re watching the plain bagel I want to put out a quick unscripted and no frills video to talk about the whole FTX situation because you might have noticed that this past week itamp;#39;s not been very good for cryptocurrency investors weamp;#39;ve seen a lot of volatility in the space even with Bitcoin ether and tether a stable coin which briefly unpegged from the US dollar and it all seems to be tied to one institution which is FTX which if you arenamp;#39;t familiar is the worldamp;#39;s second largest crypto exchange that as of this morning filed for bankruptcy protection now this is a situation thatamp;#39;s still unfolding and one thatamp;#39;s already been covered by a few others including coffeezilla who I highly recommend you check out his video he does a really good job explaining how we got to this point but at risk of being redundant I do want to cover the basics as Iamp;#39;ve had a lot of viewers asking me about the FTX situa

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How much money has been recovered from FTX?

Sam Bankman-Fried resigned as CEO and the company filed for bankruptcy. FTX said Tuesday it had recovered assets associated with the exchange at the time of its collapse with an estimated value of between $14.5 billion and $16.3 billion.

Did FTX customers get their money back?

FTX founder Sam Bankman-Fried, left, arrives at a federal courthouse in Manhattan on Feb. 16, 2023. Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago.

How much is lost in FTX?

ing to the prosecution, Bankman-Fried stole billions of dollars from the crypto exchanges customers out of sheer greed. One key issue was how much money FTXs customers lost. During the trial, the prosecution and its witnesses repeatedly in fact, 97 times put that number at $US8 billion ($12 billion).

Did everyone lose their money on FTX?

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.

Did people lose money when FTX collapsed?

Sam Bankman-Fried, former CEO of the bankrupt cryptocurrency exchange FTX, presided over a spectacular collapse that cost his customers billions of dollars.

Withdrawal issues Why cant I withdraw from FTX?

On Nov. 8, FTX halted all non-fiat customer withdrawals. On Twitter, Bankman-Fried posted a string of apologies explaining FTXs liquidity issues and promising more transparency. Binance withdrew from the deal. FTX Crash: Timeline, Fallout and What Investors Should Know - NerdWallet nerdwallet.com article investing ftx-cra nerdwallet.com article investing ftx-cra

What happened to my FTX funds?

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. Payments will be made in cash within 60 days of a reorganisation plan going into effect.

How much money was wiped out with FTX?

The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTXs accounts, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users.

Will FTX users get their money back?

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.

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