Inlay spot in FTX

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Aug 6th, 2022
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How to inlay spot in FTX

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so the doj expects that jury selection is going to take no longer than a single day they think that we might be uh hearing opening arguments as soon as tomorrow should that happen should we stick to this timeline what might you expect the doj to say or what will we hear as the prosecutors take the stand in a day or so uh with opening arguments Iamp;#39;m looking forward to hearing what their theory of the case is going to be their broad overview of how we got from a guy who always said he was an effective altruist uh getting earning millions billions of dollars just to give it all away how that guy turned into this alleged fraudster who allowed for billions of dollars to be stolen from his own customers right that is going to be at the heart of this case weamp;#39;re not going to get to hear how he allegedly achieved each aspect of this uh Scandal uh tomorrow but we are going to get to hear a broad overview if we get to that point

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FTX said in a court filing late Tuesday that it owes about $11.2 billion to its creditors. The exchange estimates that it has between $14.5 billion and $16.3 billion to distribute to them.
At Bankman-Frieds sentencing hearing, Kaplan agreed. He said FTXs customers had lost some $8bn and that its investors had lost $1.7bn.
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.
Bankman-Fried was found to have stolen at least $8 billion from FTX customers. He was also ordered to pay $11 billion today.
FTX margin trading lets you buy and sell FTT using funds that could exceed the balance of your account. Unlike futures and derivatives trading, spot FTX margin trading involves buying or selling the actual underlying assets, rather than financial contracts.
The collapse of FTX, caused by a spike in customer withdrawals that exposed an $8 billion hole in FTXs accounts, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users.
In November 2022, crypto exchange FTX suffered a major liquidity crisis and filed for Chapter 11. FTX created a wave of bankruptcies throughout the industry. In 2023, BlockFi, Genesis, and 3AC (a hedge fund), all of whom had money in or loaned to FTX, failed.
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.

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