Cut state in FTX

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How to Cut state in FTX

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this is a simple case in my mind of where did the money go and I said Sam walk me back 24 months tell me the use of proceeds of the assets of your company where did you spend it and then he told me about a transaction that occurred over the last 24 months the repurchase of his shares from binance his competitor I didnt know this at the time but at some point CZ or binance who runs binance purchased 20 ownership in sandbank and Freeds firm for seed stock apparently ing to Sam bankman freed CZ would not comply with The Regulators requests in these different geographies these different jurisdictions to provide the data that would clear them for a license he withheld it ing to Sam Beckman freed the only option the management and sandbankment freed had was to buy him out

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What is the reason of FTX collapse?

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.

Is your money safe in FTX?

Since 2019, FTX has been a legit crypto exchange platform. It is used by millions of users around the world.

Will I ever get my FTX funds back?

Soon after, both companies filed for bankruptcy protection. As the companies attempt to reorganize their business affairs in bankruptcy court, FTXs clients are asking, Will I get my money back? The short answer: Probably not.

How much money will be lost in FTX?

From Tom Brady to Kevin OLeary See Who Lost Big in the Wake of the FTX Crypto Collapse. The crash exposed an $8 billion hole in FTXs accounts, leaving investors and customers scrambling to recoup their funds.

Why cant you withdraw from FTX?

Clients of FTX worldwide have been unable to get access to their money since the company entered bankruptcy last month and placed a block on withdrawals.

Will FTX clients lose their money?

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.

How much did people lose on FTX?

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.

Will I lose my funds on FTX?

Users are likely to have a hard time getting their money back in the near future. Bankruptcy proceedings began on Nov. 22, 2022, and many investors who had assets stored on FTX still couldnt withdraw their funds from the platform.

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