Fix date in FTX smoothly

Aug 6th, 2022
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How to Fix date in FTX

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hi welcome back to Joe blogs this video is an update on the situation with regards to the FTX collapse in todays video Ill give you an update on whats been going on with regards to Sam bankman Freeds court case hes now submitted his plea and the date has been set for the actual trial well talk about some allegations that sambachman freed has managed to do some trading on some Alameda research blockchain accounts its reported that hes taken up to 684 thousand dollars out of those accounts so well have a look into those allegations well also talk about an alleged Hack That was undertaken on the FTX accounts around the time that it went into chapter 11 bankruptcy under which around six hundred thousand dollars disappeared Ill then give you an update on whats going on with regards to the asset recovery for FTX John Ray and the Bahamas authorities have fallen out in terms of the amount that theyve actually recovered and the difference is quite large its around three billion d

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FTX filed for bankruptcy on Nov. 11, 2022, after a surge of customer withdrawals earlier in the month. Then-CEO Bankman-Fried admitted that the company didnt have sufficient assets in reserve to meet customer demand.
Key Takeaways. FTX was a centralized cryptocurrency exchange specializing in derivatives and leveraged products that filed for bankruptcy protection in the U.S. in November 2022. FTXs founder and former CEO was arrested in the Bahamas, extradited to the U.S. and released on a $250 bond in late December.
Collapsed cryptocurrency exchange FTX says that around $415m (338m) of crypto has been stolen by hackers. About $323m was from its international exchange and $90m from its US platform since the firm filed for bankruptcy, FTXs CEO says.
FTX.US vs. Coinbase: Security. Both FTX.US and Coinbase prioritize security and have excellent track records to date. Of the two, Coinbase has been around much longer, but theyre both safe places to buy and sell cryptocurrency.
FTX is an emerging platform used for crypto derivatives trading. In fact, it is making this segment of trading popular. FTX attracts people at a high rate thanks to its advanced trading features and next-gen trading products. In 2020, the exchange launched a number of innovative products for crypto trading.
SBF then created his own crypto exchange, FTX, in 2019 based on the success of Alameda. The exchange grew fast with high-profile acquisitions, a hefty marketing budget, and promises of high returns. Users were told that they could earn much higher yields with FTX than with other traditional banks.
FTX got deep into crypto s and derivatives, promising a robust risk management system. Soon, it brought on board Binance, the worlds largest crypto exchange, as an investor. Between 2019 and 2022, FTX grew to become one of the largest exchanges in the world, competing with Binance.
FTX claims it has recovered $1 billion in assetsa fraction of the $8 billion or more missing. Some $3.1 billion is owed to the companys top 50 creditors, ing to a bankruptcy filing from FTX last month.
FTX in November 2022 faced a liquidity crisis and searched for bailout funds; rival exchange Binance considered buying portions of the company but quickly backed out. By Nov. 11, 2022, FTXs CEO stepped down and the company filed for bankruptcy.
The crypto exchange collapsed after it came to light that Alameda had been using FTX customer assets to cover trading losses. The owners of the company could really run free-rein between all of FTX international, FTX US, and Alameda Researchs assets, Ray testified.

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