Inlay point in FTX in a few clicks

Aug 6th, 2022
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How to inlay point in FTX

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the collapse of cryptocurrency exchange FTX has rattled the crypto world and set off a scramble to find billions of missing dollars and to make things even more complicated cryptocurrency exchanges are so new the bankruptcy courts havenamp;#39;t yet had to sort out complex legal questions surrounding their collapse so here are three things to know about ftxamp;#39;s bankruptcy case first thereamp;#39;s a growing jurisdiction battle over where bankruptcy proceedings should take place the U.S or the Bahamas on November 11th the day that FTX founder Sam bankman freed resigned FTX and more than 130 corporate Affiliates filed for chapter 11 bankruptcy in Delaware but the Bahamas government appears to be challenging that venue on November 15th a Bahamas court-appointed Liquidator filed for chapter 15 bankruptcy in New York on behalf of FTX digital markets and he essentially asked to move some of the legal proceedings to the Bahamas he argued that the Bahamas has jurisdiction over FTX digi

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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.
At trial, the court heard from an accounting expert who said that $11.3bn in customer funds were supposed to be held at Alameda Research, FTXs hedge fund arm. But only $2.3bn could be located. The rest had gone toward investments, political contributions, charity foundations and real estate purchases.
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.
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 investors filed a class action lawsuit against FTX and its celebrity endorsers on Nov. 15, 2022. The civil suit claimed FTX used false representation and deceptive conduct. The lawsuit also accused FTX of using a Ponzi scheme to misuse funds and move customer money between entities.
ing to the prosecution, Bankman-Fried stole billions of dollars from the crypto exchanges customers out of sheer greed. One key issue was how much money FTXs customers lost. During the trial, the prosecution and its witnesses repeatedly in fact, 97 times put that number at $US8 billion ($12 billion).
The FTX has constantly failed to regain momentum, resulting in the altcoin recording a YTD of -56.11% in valuation. Furthermore, the Simple Moving Average (SMA) displays a bearish convergence in the chart, suggesting the price will continue losing value in the coming time.
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.

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