Faint stain in FTX

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Aug 6th, 2022
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How to faint stain in FTX

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Mr Oamp;#39;Leary I know that you are a big supporter of crypto even after you lost 10 million dollars in ftxamp;#39;s collapse but you are an experienced investor so let me ask you do you believe that the potential benefits of crypto are so promising that we should accept weaker anti-money laundering rules we should apply the same regulatory structure that we apply to existing trading of stocks and bonds an exchanges tied to broker dealers that is not complicated itamp;#39;s already been implemented in other countries and so and I I take issue Senator with your concept that it makes it easier to do money laundering currencies have been used for drug trafficking since the 60s in the American dollar when it was thrown out of a Piper aircraft in a duffel bag the American dollar is also used by Bad actors all the time crypto doesnamp;#39;t get a pass to help the worldamp;#39;s worst criminals

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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.
BlockFi has said it is unlikely to fully repay customers who had interest-bearing BlockFi accounts. The company previously estimated that those customers might receive between 39.4% and 100% of the value in their accounts. As part of the agreement, BlockFi agreed to drop its lawsuit over 56 million in Robinhood (HOOD.
At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.
Distributions for BlockFi clients who were placed or opted in to the Convenience Class commenced in February 2024, and are currently ongoing. Convenience Class participants are entitled to a 50% distribution on allowed claims, up to $1,500.
Under the settlement, BlockFi will receive a total of $874.5 million in claims against FTX and Alameda Research. $250 million will be treated as a secured claim, which will prioritize payment to BlockFi after FTX plan to end bankruptcy, which was filed in December, is approved by its creditors.
FTXs bankruptcy advisers settled in March, providing BlockFi with $874.5 million in claims against FTX and Alameda.
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.

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