Cut pecularity in FTX

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Aug 6th, 2022
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How to cut pecularity in FTX

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all right letamp;#39;s talk uh letamp;#39;s talk a bit about Sam bankman free because you you want to you know you do uh FTX founder Sam bankman free did continue to speak out you want him heamp;#39;s available now apparently uh this of course after the collapse of the cryptocurrency exchange he sat down with Andrew Ross Sorkin yesterday at the deal book Summit bankman freed struck back against those who accuse him of fraud I didnamp;#39;t ever uh try to commit fraud on anyone I I was excited about the prospects of FTX a month ago I saw it as a thriving growing business I was shocked by what happened this month and you know reconstructing it I for other things I wish I had done differently there was no person who was chiefly in charge of positional risk of customers on FTX and that feels pretty embarrassing in retrospect didnamp;#39;t really keep a close eye on that Alameda apparently uh Jim uh it was his first interview apparently he may have done another one already today uh I w

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Strong internal controls prevent the unusually close relationships, poor corporate culture and compromised systems that exposed FTX shareholders to elevated risks. Could Two Common Financial Controls Have Prevented the Fall of aprio.com could-two-common-financial-c aprio.com could-two-common-financial-c
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: new technology, old-fashioned embezzlement At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTXs hedge fund arm. Old-fashioned embezzlement: where did all of FTXs money go? | FTX theguardian.com business mar where-d theguardian.com business mar where-d
FTX customers are set to recover all funds lost, plus interest. Bankruptcy lawyers say they have collected $14.5 billion to $16.3 billion and are ready to distribute it to defrauded customers.
FTX was a leading cryptocurrency exchange that went bankrupt in November 2022 amid allegations that its owners had embezzled and misused customer funds. Sam Bankman-Fried, the CEO of the exchange, was sentenced to 25 years in prison and ordered to repay $11 billion. 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
In order to submit a claim you will first need to create an account on the FTX Digital Claim Portal. Once you have created your account you will be able to link your FTX accounts, view the account balances (per the JOLs records) and submit a claim.
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.

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