Embed period in FTX

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Aug 6th, 2022
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How to embed period in FTX

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I just want you to imagine me uh reporting that I am now a hero on CNBC Sam whoamp;#39;s a storyed a brilliant guy heamp;#39;s the Mark Zuckerberg of crypto heamp;#39;s bought 30% of my business weamp;#39;re gonna have this generational transfer of knowledge and uh weamp;#39;re going to go out and uh help him grow his business grow our business Etc such great excitement nine short weeks later Iamp;#39;m back on television having to tell people unfortunately I sold my business to somebody that uh we didnamp;#39;t know it at the time but he was guilty of fraud I mean he was convicted of Fraud and heamp;#39;s now serving a jail cell in a jail cell itamp;#39;s a very very painful experience so I went from hero to zero in a nine week period of time and uh it was a terrible situation for me

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Nearly all customers of FTX will get their money back, plus interest, after the cryptocurrency exchange imploded 17 months ago. FTX, which filed for bankruptcy protection in November 2022, said in a court filing Tuesday that between $14.5 billion and $16.3 billion would be available for distribution.
Crypto experts have for months expected docHub recoveries in the FTX bankruptcy. Some opportunistic investors have bought bankruptcy claims from the exchanges customers for pennies on the dollar, hoping to profit when the payouts begin.
Nearly all of FTXs former customers will get back almost 100% of the money they lost at the time of the cryptocurrency exchanges collapse if not more.
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 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. However, this plan still needs to be approved by a US bankruptcy court and by creditors.
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.
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.
At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.

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