Negate guide in FTX

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Aug 6th, 2022
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How to negate guide in FTX

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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.
Nearly all of FTXs former customers will get back almost 100% of the money they lost at the time of the cryptocurrency exchanges collapse if not more.
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.
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.
FTX customers will get their money back and morebut the biggest winners are bankruptcy traders. Sam Bankman-Fried, the former CEO of FTX, is serving a 25-year sentence. In a rare outcome for bankruptcy, customers of the failed cryptocurrency exchange FTX will recover all of their moneyand then some.
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.
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.

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