Embed date in FTX

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How to Embed date in FTX

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- [Narrator] Over $150 billion. In three days, thats how much the worlds 15 largest cryptocurrencies lost in market value. Its because of the Crypto Exchange platform FTX, which is behind this token, named FTT. On November 6th, the tokens value began to fall, losing more than 80% of its worth in the span of 72 hours. Once seen as a survivor in a struggling market, the fall of FTX has sent shockwaves through the cryptocurrency industry. So, what went wrong? FTX is the brainchild of Sam Bankman-Fried. Hes commonly known as SBF on social media. Hes been previously hailed as a savior of the crypto industry. - You were called the JP Morgan of crypto. - [Sam] Yep. - Does that bother you or not? - It doesnt bother me too much. - [Narrator] Bankman-Fried founded the quantitative trading firm Alameda Research in 2017. Two years later, he started FTX, an exchange platform for buying or selling cryptocurrencies. Right now, hes the majority owner of both firms. - That kinda aroused some s

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Why does FTX collapse?

What happened to FTX? 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 as of Nov. 9.

When was FTX collapse?

The cryptocurrency fell by 22% in less than a day, between Nov. 7 and Nov. 8, as investors struggled to assess the impact of a potential FTX collapse and the likelihood of a Binance-backed FTX bailout. It dipped below $16,000 several times in the following weeks.

Is FTX allowing withdrawals?

Feb. 20, 2023, at 8:36 p.m. TOKYO (Reuters) - The Japanese unit of failed cryptocurrency exchange FTX said on Monday it would allow customers to withdraw deposits of fiat currency and crypto assets beginning Tuesday after months of suspension.

Who lost the most money in FTX?

CharacteristicNet worth loss in billion U.S. dollarsSam Bankman-Fried (FTX)23Brian Armstrong (Coinbase)4.7Gary Wang (FTX)1.7Chris Larsen (Ripple)1.31 more row Jan 12, 2023

Did FTX get ?

Collapsed cryptocurrency exchange FTX says that around $415m (338m) of crypto has been stolen by hackers. About $323m was from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTXs CEO says.

What really happened at FTX?

In just a few days, the cryptocurrency exchange went from a company with a peak valuation of $32 billion to filing for bankruptcy. The liquidity crunch had customers demanding withdrawals, and Binance abandoned the non-binding acquisition agreement they had with FTX.

How much did FTX collapse?

FTX, which a year ago was valued at $32bn, filed for bankruptcy protection on 11 November. It has been estimated that $8bn of customers funds was missing.

Will FTX customers get money back?

Collapsed crypto exchange FTXs customers in Japan can now get their frozen money back, as the local subsidiary becomes the first to restart withdrawals. Its a rare case of customers being able to recover funds that have been locked on the crypto exchanges platform since it imploded in November.

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