Negate side in FTX

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How to negate side in FTX

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What if I lost money in FTX?

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 happens if FTX goes under?

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.

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.

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.

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 FTX allow negative code?

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.

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