Darken clause in FTX

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Aug 6th, 2022
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How to darken clause in FTX

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FTX headers are filing a lawsuit against grayscale Investments our crypto reporter David Hollerith has the latest on that story hey David hey Shawna yeah so the this just came out in a press release um FTX is alleging uh through its affiliate firm uh Alameda research once a hedge fund for uh Sam bakeman freed uh that grayscale if they were to lower their fees and stop preventing redemptions would give uh FTX effectively 550 million dollars more or approximately 90 percent more than the current value that FTX Shares are today so this is grayscaleamp;#39;s Bitcoin and ethereum Trust which both traded Hefty discounts because um they canamp;#39;t automatically be redeemed um and and created as they are closed-ended funds so what whatamp;#39;s been going on here is actually shareholders for grayscaleamp;#39;s Bitcoin trust have raised similar issues with other asset managers coming out to sort of propose taking over the trust and while most of that has been a bit of a PR campaign it loo

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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.
NEW YORK, March 28 (Reuters) - Sam Bankman-Fried was sentenced to 25 years in prison by a judge on Thursday for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkinds dramatic downfall.
A group of FTX investors and customers has agreed to drop their claims against co-founder Sam Bankman-Fried in exchange for his cooperation against other defendants in a sprawling set of lawsuits over the cryptocurrency exchanges collapse.
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 Trading Ltd., commonly known as FTX (short for Futures Exchange), is a bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund.
(FuTures EXchange) A now-defunct cryptocurrency exchange headquartered in The Bahamas.
In November 2022, crypto exchange FTX suffered a major liquidity crisis and filed for Chapter 11. FTX created a wave of bankruptcies throughout the industry. In 2023, BlockFi, Genesis, and 3AC (a hedge fund), all of whom had money in or loaned to FTX, failed.
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.

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