Faint city in FTX

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Aug 6th, 2022
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How to faint city in FTX

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foreign the website closed and a lot of people had a lot of money on the platform I have been contacted by people telling me Oh I put all my savings so can I get my money back of course there is a the civil procedure the criminal procedure and everything but there is also the psychological part people need to talk to each other just to know that they are not alone and I know there have been people who were very very bad because Kelly and we were talking with them to say that there is a lot of people in your situation and it was I think the most important in the beginning foreign

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In the aftermath of FTXs fall 2022 collapse, media estimates of customer losses ranged from $8 billion (the worth of assets on FTXs balance sheet that were unaccounted for) to $16 billion (the amount of funds frozen) to $32 billion (the market value of FTX prior to its implosion).
FTX said Tuesday it had recovered assets associated with the exchange at the time of its collapse with an estimated value of between $14.5 billion and $16.3 billion. Ray, a restructuring specialist, took over as CEO in November 2022 to shepherd what was left of the firm through bankruptcy.
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.
People who lost their money in FTX, once one of the biggest cryptocurrency exchanges in the world, are to be paid back, with interest. Billions were lost when the cryptocurrency exchange headed by convicted fraudster Sam Bankman Fried went bust in November 2022, with an estimated one million customers losing funds.
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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