Negate flag in FTX

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How to negate flag in FTX

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clearly in the wake of the FDX implosion there has really been this urgency for regulation in this space when it just comes to regulation of the space in general um I know a lot of people are calling for it um they they want immediate action um but I think at the heart of things we really have to remember this really is a fraud burst and not necessarily something that that touches all of the crypto space in general you know a lot of the svf FTX favored legislation will probably not survive at this point there are a ton of other bills and and in front of Congress I donamp;#39;t think weamp;#39;re going to see um then moving forward quickly right now

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What happens if FTX goes under?

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.

What is the loss of FTX?

From Tom Brady to Kevin OLeary See Who Lost Big in the Wake of the FTX Crypto Collapse The crash exposed an $8 billion hole in FTXs accounts, leaving investors and customers scrambling to recoup their funds.

What is the mistake of FTX?

FTX founder Sam Bankman-Fried testified Friday that his largest mistake was not having a dedicated risk management team and a chief risk manager at FTX. The result was no oversight for the bankrupt crypto exchange.

What is the FTX allow negative code?

Take the allownegative function in the code for FTX, which allows a customer to withdraw into the negative. The only customer to get this privilege: Alameda.

What is the negative balance of the FTX?

Court filings have revealed a line buried deep in FTXs code that allowed Alameda to have a negative balance of as much as $65 billion on the exchange. Normal users couldnt go negative on FTX. They were subject to an automatic liquidation process, in which FTX sold off their assets if their balances fell below zero.

How did FTX use customer funds?

Peter Easton, an accounting professor at the University of Notre Dame, testified that FTX customer funds were used to fund a variety of investments, including at SkyBridge Capital, the asset management firm founded by Scaramucci, former White House communications director for Donald Trump.

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