Expunge fact in FTX in a few clicks

Aug 6th, 2022
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How to expunge fact in FTX

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Emily back to you you uh penned an op-ed for CNN uh entitled no one is coming to save the crypto industry uh break it down for us to start with sure so this theme is becoming more and more prominent you know crypto as you know Michael you wrote about something similar crypto the fundamental ideas of Bitcoin are decentralization and transparency Bitcoin came into the world on the heels of the financial crisis and the whole idea was to have a monetary system that did not rely on any one individual or entity you know a trustless system so to speak and now of course we have to say you know crypto and Bitcoin are separate and FTX does not represent Bitcoin these are two separate entities however the crypto industry I argue has sort of straight away from this original ideal of Bitcoin which is this decentralized system because what we saw with FTX and what we saw with Sam Baker freed is that so much trust was placed on this one individual and this one entity would became so powerful that whe

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ing to the agencies, Bankman-Fried and top executives lied about FTXs financial health to investors, customers, and lenders and hid a billion-dollar hole in its balance sheet with financial statements, inflated valuations of speculative s like FTXs FTT exchange coin, and cryptocurrencies borrowed from
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 customers are set to recover all funds lost, plus interest. Bankruptcy lawyers say they have collected $14.5 billion to $16.3 billion and are ready to distribute it to defrauded customers. Sorry, a summary is not available for this article at this time. Please try again later.
FTX says that nearly all of its customers will receive the money back that they are owed, two years after the cryptocurrency exchange imploded, and some will get more than that. FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors.
FTX customers will get their money back and morebut the biggest winners are bankruptcy traders. Sam Bankman-Fried, the former CEO of FTX, is serving a 25-year sentence. In a rare outcome for bankruptcy, customers of the failed cryptocurrency exchange FTX will recover all of their moneyand then some.
Tom Brady is the most famous face to promote and invest in FTX and he also may have suffered the greatest individual loss. The Tampa Bay Buccaneers quarterback owned over 1.1 million common shares of FTX Trading, which equaled about $45 million before the company went bankrupt, ing to Bloomberg.
How is FTX able to repay its customers? FTX is repaying its customers through the liquidation of its assets, which have appreciated docHubly in value, and through the positive effects of a bullish cryptocurrency market. 3.

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