Embed point in FTX

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Aug 6th, 2022
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How to embed point in FTX

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for those that donamp;#39;t know Arthur Hayes was the founder of bitmax which at one point in time was one of the top exchanges in the world and they actually ran into some legal trouble uh because the way they were actually allowing U.S uh customers on board and I think Arthur Hayes was actually placed on house arrest for a period of time so you know he more than anyone knows what itamp;#39;s like uh to be in this position and working in this industry and you know from the early looks of it all signs you know point to the fact that FTX was probably advocating customer funds um and you know I think when we were like talking about this before the show

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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.
FTX was the third-largest cryptocurrency exchange in the world when it filed for bankruptcy protection in November 2022 after it experienced the crypto equivalent of a bank run. CEO and founder Sam Bankman-Fried resigned when the exchange collapsed.
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.
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.
FTX says most customers of the bankrupt crypto exchange will get all their money back. Almost all customers of collapsed cryptocurrency exchange FTX will get their money back and more, ing to a court filing.
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.
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.

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